Replies to post #253 on FieldPoint Petroleum Corp. (FPPP)

[Stockguru55]

Today the stock hit $2.95 which is very bullish on the short term and needs to break though the 200 day moving average of $3.30 for long term bullish buy signal.

Chart will be better when we hit $3.00

[OilStockReport]

Here are the latest highlights I had in my notes.

This stock has moved up from a low of $1.270 per share and now trades at just over $3 per share.

Fieldpoint has 304 gross producing wells (82.53 net). They are currently the operator of 59 of these wells.

This company has been actively buying back shares which total 810,000 at an average cost of $1.86 per share. Since the stock has ripped it seems this was a very good business decision.

Fieldpoint expanded its debt cap to $10.5 million last December. Fieldpoint has a combination of oil and natural gas wells through Texas, New Mexico, Louisiana, Wyoming and Oklahoma.

It also recently purchased a 440 to 800 acre play in the Bakken for $155 per acre. Fieldpoint is currently profitable, and by its new Bakken position seems to be going after oil.