FieldPoint Petroleum Corporation609 Castle Ridge Road, Suite 335, Austin, Texas, United States

FieldPoint Petroleum Corporation was founded in 1989 by Ray D. Reaves for the purpose of acquiring, operating, and developing oil and gas properties across the country. Ray began his career with North American Oil and Gas and subsequently purchased an interest in 10 of their wells and formed Bass Petroleum, Inc. Under Ray’s management in the years that followed, Bass Petroleum gained majority control of the 10 original wells and acquired interest in another 60 wells. Bass Petroleum merged with Energy Production Corporation and, as a result, FieldPoint Petroleum Corporation was born.  Today, FieldPoint enjoys varying ownership interests in 480 gross producing wells (96 net) located across Texas, Oklahoma, Wyoming, New Mexico, and Louisiana.

OPERATIONS:Producing Oil & Gas Properties We operate 19 wells, while independent contractors operate the other wells per standard industry contracts. With non-operated wells, we have a long history with experienced and efficient operators, such as Cimarex, Denbury, EnergyQuest II and Linn, to name a few.

Business Strategy

In the past, FieldPoint’s business strategy centered on expanding its reserve base while increasing production and cash flow through the acquisition of producing oil and gas properties. The ideal acquisition included not only oil and gas production, but also leasehold and other working interests in exploration areas.  More recently, we have chosen to focus on promising areas for oil and gas exploration, such as the Lusk Field in Lea County, New Mexico, and our Ranger Project in the Taylor Serbin Field near Giddings, Texas. In projects such as these, FieldPoint partners with companies that compliment internal expertise in evaluating opportunities and in making investment decisions. Going forward, we expect to continue to largely rely on experienced drilling and operating partners for these projects, such as we have done with Cimarex in the Lusk Field and Riley Exploration in the Ranger Project.  We recognize the ability to implement our business strategy will depend in part on our ability to raise additional debt or equity capital to fund future acquisition, exploration, and development activities. We feel that the company is well positioned to do so, should the need arise.

Code of Ethics

• (Under Section 406 of the Sarbanes-Oxley Act of 2002)  This Code of Ethics is designed to promote honest and ethical conduct, full, fair, accurate, timely and understandable disclosure of financial information in the periodic reports of FieldPoint Petroleum Corporation (the “Company”), and compliance with applicable laws, rules, and regulations.
• APPLICABILITY OF THE CODE This Code of Ethics (the “Code”) applies to the Company’s directors and executive officers, including its chief executive officer, the chief financial officer, controller, and such other finance, accounting, tax or internal audit personnel as the chief executive officer or chief financial officer may from time to time designate. The persons listed in the preceding paragraph are referred to as the “Covered Persons.”
• HONEST AND ETHICAL CONDUCT In performing his or her duties, each of the Covered Persons will act in accordance with high standards of honest and ethical conduct including taking appropriate actions to permit and facilitate the ethical handling and resolution of actual or apparent conflicts of interest between personal and professional relationships.
• FULL, FAIR, ACCURATE, TIMELY, AND UNDERSTANDABLE DISCLOSURE In performing his or her duties, each of the Covered Persons will endeavor to promote, and will take appropriate action within his or her areas of responsibility to cause the Company to provide, full, fair, accurate, timely, and understandable disclosure in reports and documents that the Company files with or submits to the Securities and Exchange Commission and in other public communications.
• COMPLIANCE WITH APPLICABLE GOVERNMENTAL LAWS, RULES, AND REGULATIONS In performing his or her duties, each of the Covered Persons will endeavor to comply, and take appropriate action within his or her areas of responsibility to cause the Company to comply, with applicable governmental laws, rules, and regulations and applicable rules and regulations of self-regulatory organizations.
• REPORTING VIOLATIONS OF THE CODE Each of the Covered Persons will promptly report any violation of this Code to the Company’s general counsel or to the Company’s audit committee, as applicable.
• WAIVER AND AMENDMENT OF THE CODE The Company’s audit committee, as well as the Company’s board of directors, will have the authority to approve a waiver from any provision of this Code. The Company will publicly disclose information concerning any waiver or an implicit waiver of this Code as required by applicable law. A waiver means the approval of a material departure from a provision of this Code. The Company will publicly disclose any substantive amendment of this Code as required by applicable law.
• ACCOUNTABILITY FOR ADHERENCE TO THE CODE The Company’s audit committee will assess compliance with this Code, report violations of this Code to the Board of Directors, and, based upon the relevant facts and circumstances, recommend to the Board appropriate action. A violation of this Code may result in disciplinary action including termination of employment.