One-Page Deal Sheet
FieldPoint Acquires Interest in Block Field
Fieldpoint Petroleum Corp. Not Disclosed
Announced Date
September 16,2009
Effective Date
September 01,2009
Close Date
September 16,2009
Transaction Type
Property
Enterprise Value (EV)($MM)
4
Asset/Basin:
{Permian}
Transaction Details: Subscribe to see
FieldPoint Petroleum Corporation today announced the acquisition of a working interest in the Block Field in Andrews County, Texas. The acquisition price of $4,400,000 is for working interests of 74% -100% and net revenue interests of 59% - 87.5% in the leasehold and related equipment, effective September 1, 2009. Based upon engineering reports and certain standard assumptions, this is expected to add approximately 204,000 BOE in proved developed producing reserves net to FieldPoint based on a $70.00 oil price. FieldPoint believes that this field offers an attractive opportunity for drilling…
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