FieldPoint Petroleum: In The News...

AUSTIN, Texas, February 22 /PRNewswire

FieldPoint Petroleum Corporation (OTC Bulletin Board: FPPC) (the "Company") today announces that Robert G. Wonish has been named a member of its Board of Directors effective March 1, 2002. Mr. Wonish serves as President, Chief Operating Officer and Director of Panaco, Inc. (Amex: PNO - news) He joined Panaco in 1992 as a Consulting Engineer and in 1994 became Vice President until 1999 when he became Executive Vice President Chief Operating Officer later to become President in 2000.

FieldPoint Chairman, Ray D. Reaves, commenting on the announcement said, ``We are delighted that Bob has agreed to join our Board. His extensive industry knowledge and experience will prove an invaluable asset as we continue to expand our asset base.'' Current Board members include Ray D. Reaves, Roger D. Bryant Chief Executive Officer of International Gateway Exchange (IGE, LLC), Don H. Stevens Vice President Capital Markets and Treasurer of Forest Oil Corporation (NYSE: FST - news) and Robert A. Manogue President of R.A. Manogue Construction.

FieldPoint Petroleum Corporation is engaged in oil and gas exploration, production and acquisition, primarily in Oklahoma, Texas and Wyoming. The Company's business strategy is to continue to expand its reserve base and increase production and cash flow through the acquisition and development of low risk producing oil and gas properties which offer the opportunity for moderate to high return on investment. Additional informational about FieldPoint Petroleum Corporation may be obtained by contacting the Company's President, Ray D. Reaves, at (512)250-8692 or by visiting the Company's website at www.fppcorp.com .

This release contains certain forward-looking statements within the meaning the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable, but which are subject to a wide range of uncertainties and business risk. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission (at www.sec.gov ), including its Annual Report on Form 10KSB for the year ended December 31, 2000.

This release contains certain forward-looking statements within the meaning of the Federal Securities Laws. Such statements are based on assumptions that the Company believes are reasonable, but which are subject to a wide range of uncertainties and business risks. Factors that could cause actual results to differ from those anticipated are discussed in the Company's periodic filings with the Securities and Exchange Commission (at www.sec.gov), including its Annual Report on Form 10-KSB for the year ended December 31, 2000.