Replies to post #258 on FieldPoint Petroleum Corp. (FPPP)

[Stockguru55]

If You Thought That Was Big, Just Wait: XEC, CXO, FPP
Cimarex Energy, FieldPoint Petroleum, and Concho Resources, Marbob, are poised to strike gold, errrr, black gold.
By James E. Brumley Reprinted

Though the bears attacked everything yesterday, and though I'm actually expecting a marketwide pullback (short-term, but still) from here, I do think there's one area that's poised to continue its advance. And I think there's one stock in particular that's on top of the heap.

I've made no bones about my bullishness on the energy sector lately, focusing specifically on the refiners and equipment plays in the last few days. After further digging, a company called FieldPoint Petroleum Corp. (AMEX:FPP) has popped up on my radar, and for good reason.

On the surface, FieldPoint Petroleum, AMEX FPP looks like any other well operator. If you take a closer look though, you'll find the company is (1) profitable, and (2) likely to get a whole lot more profitable. It's the second aspect that's the real opportunity, in that few folks realize it.
Odds are that the average consumer hasn't heard of an area in New Mexico called Bone Springs (part of the Permian Basin). A lot of oil companies have heard of it though, and if their recent interest - and growing activity - in Bone Springs is any indication, the area may well turn out to be oil's equivalent to a gold mine.
Concho Resources (NYSE:CXO), for instance, just paid $1.4 billion in cash and a truckload of common stock to a company called Marbob plus another $150 million in debt (maturing in 2018) for drilling rights to what's expected to be 76 million barrels being drawn up by 2300 producing wells. Where are they? A great number of those proven drill sites are in, you guessed it, Bone Springs.

What's that got to do with FieldPoint Petroleum? Nothing directly, but a ton, indirectly.... with a company called Cimarex Energy (NYSE:XEC) being pulled into the mix.
Update After News Announced on Cimarex / FieldPoint Joint Venture!
FieldPoint Petroleum is currently in contract with Cimarex to drill three new wells at Bone Springs. As of early November their drilling partner Cimarex is 9600 feet down and going horizontal. Results from the first hole are expected in late November.
FieldPoint owns a 43.75% working interest, Cimarex owns a 37.5% working interest, and other partners owns the remaining 18.75% working interest in the three planned wells.
For More Info go to WWW.FPPCORP.com