FieldPoint Petroleum (FPP) Announces Stock Buyback of Up To $250k
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FieldPoint Petroleum Corporation (AMEX: FPP) announced that on May 15, 2009, its Board of Directors authorized the Company to repurchase shares of its Common Stock at an aggregate cost not to exceed $250,000. Stock purchases may be made in open market or privately-negotiated transactions, if and when management determines to effect purchases. Repurchases shall occur subject to prevailing market conditions and will be funded from available cash. Repurchases will also be subject to compliance with applicable federal securities laws, including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.
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