FIELDPOINT PETROLEUM CORP - FORM 10-K/A - EX-99.1 - EXHIBIT 99.1

Attached files

file	filename
10-K/A - FORM 10-K/AMENDMENT NO. 1 - FIELDPOINT PETROLEUM CORP	c10705e10vkza.htm
EX-32 - EXHIBIT 32 - FIELDPOINT PETROLEUM CORP	c10705exv32.htm
EX-31 - EXHIBIT 31 - FIELDPOINT PETROLEUM CORP	c10705exv31.htm
EX-99.2 - EXHIBIT 99.2 - FIELDPOINT PETROLEUM CORP	c10705exv99w2.htm

Exhibit 99.1

RESERVE AND ECONOMIC EVALUATION
FIELDPOINT PETROLEUM CORPORATION
SEC CASE ECONOMICS
AS OF JANUARY 1, 2010

PREPARED FOR

RAY REAVES

MARCH 10, 2010

FLETCHER LEWIS ENGINEERING, INC.


March 10, 2010		5001 N. PENNSYLVANIA, SUITE 300 PENN PARK OFFICE CENTER OKLAHOMA CITY, OKLAHOMA 73112 (405) 840-5675

Fieldpoint Petroleum Corporation
Mr. Ray Reaves
1703 Edelweiss Dr.
Cedar Park, TX 78613


		RE:		Reserve and Economic Evaluation
				Fieldpoint Petroleum Corporation
				SEC Case Economics
				As of January 1, 2010

Mr. Reaves:

As requested, I have prepared the Reserve and Economic Evaluation of various oil and gas properties owned by Fieldpoint Petroleum Corporation as of January 1, 2010. These evaluations consist of seventy-two (72) properties located throughout Oklahoma and Hemphill County, Texas. Many of these properties contain numerous wells with Behind-Pipe completions, additional drilling development potential and additional waterflood reserves. This report contains eighty-four (84) evaluations consisting of seventy-two (72) Proved Developed Producing properties, nine (9) Behind-Pipe properties and three (3) Proved Undeveloped properties. The three Proved Undeveloped properties consist of three (3) waterfloods.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 2

The Future Net Reserves and Future Net Revenue of the evaluated Fieldpoint Petroleum Corporation interests as of January 1, 2010, are as follows:


					FUTURE		DISCOUNTED
					NET		PRESENT
	NET OIL		NET GAS		REVENUE		WORTH 10%
	(BBLS)		(MCF)		$		$

Proved Developed Producing		58,725		85,617		1,934,538		1,236,677
Behind-Pipe		168,474		503,784		6,567,205		3,281,458
Proved Undeveloped		42,194		22,576		1,71,0949		717,830

Summary Proved		269,393		611,977		10,212,692		5,235,965

Following this report is a table listing the individual well or lease locations and the evaluated Working Interest and Net Revenue Interest. Following is a table listing the individual and summary Future Net Reserves and Future Net Revenue as of January 1, 2010. Also following this report are the individual production and economic projections of each of these wells and their summaries.

RESERVE CATEGORIES

The reserves were assigned as Producing, Possible and Probable. There may be some variation on the individual reserve entity but the aggregate of the reserves were multiple entities should adhere to the required probabilities.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 3

The reserves are estimated and anticipated to be recovered from known accumulations from a given date forward. These are based on the analysis of drilling, geological, geophysical and engineering data with the use of established technology under specified economic conditions which are generally accepted as being reasonable.

Proved reserves are those reserves that can be estimated with a high degree of certainty to be recoverable. There is at least a 90% probability that the quantities actually recovered will equal or exceed the estimated Proved reserves.

Probable reserves are those additional reserves are less certain to be recovered than Proved reserves. There is at least a 50% probability that the quantity actually recovered will equal or exceed the sum of the estimated Probable reserves.

Possible reserves are those additional reserves that are less certain to be recovered than Probable reserves. There is at least 10% probability that the quantity actually recovered will equal or exceed the sum of the estimated Possible reserves.

RESERVE DETERMINATION

All of the evaluated properties are disbursed by Ram Operating Company, although only slightly more than half are operated. The Ram Operating Company properties have production histories available through August and October 2009. The outside operated properties had sales histories available through August 2009.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 4

The Proved Developed Producing properties were assigned reserves by assigning the latest available production rates and then extrapolating each property’s historical production decline until its economic limit was reached.

The Mount Gilcrease Unit has significant Behind-Pipe reserves located throughout the unit. Productive Calvin, Thurman, Earlsboro and Lower Booch sands are found in numerous wells; nineteen of these wells have recently been completed in these sands, although it should be noted that in these wellbores, additional Behind-Pipe sands still exist. Behind-Pipe Lower Booch reserves were assigned to the remaining forty-seven (47) wellbores on a ten acre tract basis and on fifteen (15) wellbores for the Calvin, Thurman and Earlsboro sands on a 40 acre tract basis; utilizing the porosities, water saturation and feet of net pay exhibited in the well logs, a 90% gas recovery factor for the Calvin, Thurman and Earlsboro zones and a 20% recovery factor for the Booch zones. These wells were scheduled to be completed in 2012 to 2016. These Behind-Pipe reserves are presented in two evaluations.

An additional two Gilcrease zones have been found to be productive in a recent recompletion and these same two zones are Behind-Pipe on the Britt Lease. Reserves were determined volumetrically utilizing the average net pay; porosity and water saturation exhibited though the area and a 15% recovery factor with a ten acre drainage per Behind-Pipe well. It is estimated that there are two wells with Behind-Pipe Gilcrease intervals in this lease. Reserves were assigned using an average initial production rate and decline to produce the volumetric reserves of each well and the recompletions are scheduled for January 2011.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 5

The Diamond Lease is producing from the Booch formation which is a viable waterflood candidate throughout this area. Additional Behind-Pipe Earlsboro and Thurman reserves were assigned in two wellbores as seen in the well logs with reserves based on the regional volumetric recoveries and a 40 acre drainage area per well; these Behind-Pipe reserves were scheduled for January 2011. Proved Undeveloped Booch reserves were assigned to this lease based on the difference between the Proved Developed Producing reserves and 35% of the original oil-in-place determined by volumetric analysis with resulting Proved Undeveloped reserves of 92,270 BBLS. The waterflood has been initiated in 2004, however the Diamond Lease has yet to see a significant response to the water injection and has actually exhibited a reduction in production as prior producing wells were converted into water injectors. A typical waterflood production schedule was assigned to produce the calculated reserves.

The Butler property has an additional well with Behind-Pipe Gilcrease, Booch, Thurman and Earlsboro reserves. Gas reserves were assigned the Thurman and Earlsboro on a 40 acre basis utilizing the exhibited net pays, porosities and water saturations and utilizing a 90% recovery factor and oil reserves for the Gilcrease and Booch on a ten acre basis utilizing a 20% recovery factor. This recompletion was scheduled for January 2011.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 6

The Nan #1-30 has Behind-Pipe Booch and Thurman and the Nan #2-30 has Behind-Pipe Thurman. The Nan #1-30 was scheduled to complete the Behind-Pipe zones in January 2011, and the Nan #2-30 was scheduled to complete the Behind-Pipe zone in April 2011.

Additional Proved Undeveloped drilling locations were assigned to the Butler and Provence A leases. Two drilling locations were assigned the Butler Lease and two to the Provence A lease in currently undrilled locations with reserves determined by both volumetrics and analogy with the offset producers. The Butler and the Provence A were both scheduled for July 2011.

Reserve estimates are only as reliable as the amount and quality of data that is available. The reserves assigned were developed with accepted engineering and evaluation principles, and are believed to be reasonable; however, the reserves should be accepted with the understanding that additional information subsequent to the date of this report might require their revision.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 7

ECONOMIC ANALYSIS

The new SEC rules require an average oil and gas price to be used that is derived from the first of the month oil and gas spot market prices as of the first of the month beginning in January through December 2009. The average posted price used was $56.66 per barrel and $3.30 per MCF. The individual first of the month prices and average prices are as follows:


	OIL PRICE		GAS PRICE
JAN 1, 2009	$	40.00	$	4.61
FEB 1, 2009	$	36.65	$	3.09
MAR 1, 2009	$	39.35	$	2.64
APR 1, 2009	$	43.98	$	2.74
MAY 1, 2009	$	48.62	$	2.73
JUN 1, 2009	$	63.87	$	2.73
JUL 1, 2009	$	64.38	$	3.26
AUG 1, 2009	$	64.50	$	3.10
SEP 1, 2009	$	63.04	$	2.42
OCT 1, 2009	$	65.81	$	3.50
NOV 1, 2009	$	72.06	$	4.34
DEC 1, 2009	$	77.68	$	4.43
AVERAGE	$	56.66	$	3.30

The monthly oil price actually received was $5.54 below the posted prices and an oil price of $51.12 was used for these properties. This price was held constant for the life of the evaluation.

This average posted gas price was then adjusted by the individual remittances (differential) to assign the average price for each well. Plant products were incorporated into the gas price. These gas prices were held constant for the life of this evaluation.

Operating expenses were examined and the average historical operating expenses were calculated for each property utilizing Joint Interest Billings supplied to Fieldpoint Petroleum. The Behind-Pipe and Proved Undeveloped properties were assigned operating expenses typical to the formation and area. These operating expenses were held constant throughout the life of the evaluation.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 8

The estimated costs for completing the Behind-Pipe zones in the Mount Gilcrease Unit are $16,500.00 per Lower Booch completion and $16,500.00 per well for the shallower gas completions (the shallower completions will require additional cementing costs) for a single zone completion and $17,600.00 per well for a dual zone completion. The estimated remaining cost of initiating the waterflood for the Diamond Lease assigned Proved Undeveloped Booch reserves is $26,400.00. The estimated costs to drill and complete new development wells are $55,000.00 per well.

Applicable Severance and Ad Valorum Taxes have been considered in the economic evaluations. No consideration has been given to depreciation or Federal or State Income Taxes. Also, no future value was given for salvage equipment nor future costs to plug or abandon these wells (in most cases the salvage value is equal to plugging costs), for this evaluation.

GENERAL

In evaluating the information available for this appraisal only the engineering data was evaluated with no potential legal or accounting considerations. The conclusions expressed were derived using accepted and sound engineering methods; however, inherent uncertainties in interpretations of engineering data do exist and the conclusions represent only informed professional judgment.

FLETCHER LEWIS ENGINEERING, INC.

Fieldpoint Petroleum Corporation
SEC Case
Page 9

The basic data and computations are not in this report, but are available for inspection and study by authorized parties. Should any additional information be required, please do not hesitate to call.


Sincerely,



Fletcher Lewis, P.E.

Fieldpoint-report 2010 sec

GENERAL INFORMATION
FIELDPOINT PETROLEUM CORPORATION PROPERTIES

NET

WORKING

REVENUE

INTEREST

WELL NAME

LOCATION

COUNTY

ALEXANDER #1-3

3 B&B SUR

HEMPHILL

0.0585

0.0180

BARGER #1-11

11-9N-11W

CADDO

0.1953

0.1587

BARGER #2-11

11-9N-11W

CADDO

0.1953

0.1485

BARROW #1-31

31-10N-11W

CADDO

0.0974

0.0842

BARROW #2-31

31-10N-11W

CADDO

0.3896

0.3367

BRITT LEASE

20-4N-7E

PONTOTOC

25.0000

18.5797

BRITT 10 LEASE

20-4N-7E

PONTOTOC

25.0000

20.3125

LOWINDA BROWN #6-8

7-1N-8E

COAL

21.8750

9.5703

OIL

19.5703

GAS

BUTLER LEASE

30-5N-8E

PONTOTOC

25.0000

20.9003

CHANUTE LEASE

36-5N-7E

PONTOTOC

25.0000

21.8750

CITY OF ARDMORE #1-3

3-5S-2E

CARTER

0.8536

0.6651

DEVAUGHAN #1-31

31-10N-11W

CADDO

0.3896

0.3367

DIAMOND LEASE

30-5N-8E

PONTOTOC

25.0000

20.8840

ECKROAT #1-15

15-12N-2W

OKLAHOMA

16.7637

13.4109

FRANK EDGE #1-11

11-9N-11W

CADDO

0.1953

0.1587

IDA EDGE #1-11

11-9N-11W

CADDO

0.1953

0.1587

FOLMAR #1-27

27-12N-2W

OKLAHOMA

17.1875

14.9274

DORA HELMS #3-2

2-1N-7E

OKLAHOMA

18.8423

15.7478

DORA HELMS #4-2

2-1N-7E

PONTOTOC

18.8423

17.1831

HENDRICKS #1-15

15-6N-9W

CADDO

0.1094

0.0634

HENDRICKS TRUST #1-27

27-12N-2W

OKLAHOMA

25.0000

20.3125

IDA HOLLIE #1-20

20-7N-23E

LEFLORE

0.5207

0.4232

IDA HOLLIE #2-20

20-7N-23E

LEFLORE

0.5207

0.4232

E E HOUSE #10-12

12-1N-7E

PONTOTOC

21.8750

9.5704

OIL

19.1407

GAS

JESSIE #1-24

24-12N-13W

CADDO

0.4035

0.3531

JESSIE TOWNSITE #1-2

2-1N-7E

PONTOTOC

18.8064

17.0021

KOLB #1-15

15-12N-2W

OKLAHOMA

21.8750

17.7734

LEWIS #1-11

11-5N-2W

MCCLAIN

11.2386

9.6085

fieldpoint 2010 — TABLESGENERAL

GENERAL INFORMATION
FIELDPOINT PETROLEUM CORPORATION PROPERTIES

NET

WORKING

REVENUE

INTEREST

WELL NAME

LOCATION

COUNTY

LIVELY #1-6

6-5N-20E

LATIMER

0.3906

0.2930

MCBRIDE #1-8

8-9N-11W

CADDO

0.0977

0.0794

MCCURTAIN #1-1

1-1N-7E

PONTOTOC

20.5625

17.9922

MCDONALD LEASE

19-5N-8E

PONTOTOC

25.0000

21.8750

MCINTOSH #1-11

11-4N-9W

COMANCHE

0.1297

0.0979

MOONEY #1-29

29-6N-2W

MCCLAIN

17.1875

13.6211

MOUNT GILCREASE #1-6

26-5N-7E

PONTOTOC

25.0000

21.8250

MOUNT GILCREASE #1-7

25-5N-7E

PONTOTOC

25.0000

21.8250

MOUNT GILCREASE #2-12

25-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #2-16

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #3-12

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #4-2

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #5-3

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #5-4

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #8-6

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE #8-9

36-5N-7E

PONTOTOC

25.0000

21.8750

MOUNT GILCREASE UNIT

25,26&35-5N-7E

PONTOTOC

25.0000

21.7707

MUSE #1-33

33-2N-7E

PONTOTOC

6.2500

5.4688

NAN #1-30

30-5N-8E

PONTOTOC

25.0000

19.8242

NAN #2-30

30-5N-8E

PONTOTOC

25.0000

19.8242

NORTH STEEDMAN #2-11

36-5N-7E

PONTOTOC

25.0000

21.8750

NORTH STEEDMAN #8-1

36-5N-7E

PONTOTOC

25.0000

21.8750

NORTHEAST FITTS UNIT

22 & 23-2N-7E

PONTOTOC

0.0009

.00075

PARMENTER #2-4

4-18N-15W

DEWEY

2.8438

2.2395

K O PAYNE #1-10

10-17N-12W

BLAINE

1.1349

0.9431

PETTYJOHN B

1-1N-7E

PONTOTOC

25.0000

20.5078

CE PETTYJOHN

1-1N-7E

PONTOTOC

25.0000

20.5078

GLADYS PETTYJOHN

1-1N-7E

PONTOTOC

25.0000

21.0937

POLLARD #2-31

31-19N-4W

LOGAN

4.5921

3.7411

POWELL D #1-22

22-7N-8W

GRADY

3.1250

2.5000

PROVENCE #1-2

2-1N-7E

PONTOTOC

25.0000

20.8733

fieldpoint 2010 — TABLESGENERAL

GENERAL INFORMATION
FIELDPOINT PETROLEUM CORPORATION PROPERTIES

NET

WORKING

REVENUE

INTEREST

WELL NAME

LOCATION

COUNTY

PROVENCE A LEASE

2-1N-7E

PONTOTOC

25.0000

20.8733

ROSSER #1-31

31-10N-11W

CADDO

0.0974

0.0842

ROZIE #1-31

31-10N-11W

CADDO

0.0974

0.0760

SANDY A #1-8

8-1N-8E

COAL

4.9781

4.0771

SHAW #1-11

11-9N-11W

CADDO

0.1953

0.1587

SHAW #2-11

11-9N-11W

CADDO

0.1953

0.1587

R W SIMPSON #1-12

12-1N-7E

PONTOTOC

21.8750

19.1407

TEX #1-14

14-4N-16E

PITTSBURG

0.8203

0.6768

THOMAS #1-20

20-2N-7E

PONTOTOC

21.8750

18.8241

GEORGE THOMPSON #1-1

1-1N-7E

PONTOTOC

15.1563

12.3145

PHARR THOMPSON #1-2

2-1N-7E

PONTOTOC

5.6989

4.9680

THOMPSON HEIRS #4 & 5-1

1-1N-7E

PONTOTOC

17.5938

15.0108

TROGDEN #1-15

15-6N-9W

CADDO

0.0936

0.0708

VIRGINIA #1-31

31-10N-11W

CADDO

0.0974

0.0676

fieldpoint 2010 — TABLESGENERAL

RESERVE AND ECONOMIC EVALUATION
FIELDPOINT PETROLEUM CORPORATION
AS OF JANUARY 1, 2010


		NET OIL		NET GAS		FUTURE NET		DISCOUNTED
NAME	STATUS	BBLS		MCF		CASHFLOW		10% $

ALEXANDER #1-3	PDP		1		139		155		118
BARGER #1-11	PDP		4		214		524		389
BARGER #2-11	PDP		4		33		107		94
BARROW #1-31	PDP		4		381		1,195		794
BARROW #2-31	PDP		13		1,143		3,444		2,545
BRITT LEASE	PDP		0		0		0		0
	BHP		6,799		0		286,323		161,497
BRITT 10 LEASE	PDP		0		0		0		0
LOWINDA BROWN #6-8	PDP		1,207		16,469		61,026		44,848
BUTLER LEASE	PDP		51		119		48		47
	BHP		565		61,239		77,549		59,271
	PUD		18,812		22,576		843,802		367,670
CHANUTE LEASE	PDP		2,037		0		50,806		33,977
CITY OF ARDMORE #1-3	PDP		0		1,223		2,573		2,169
DEVAUGHAN #1-31	PDP		5		815		2,091		1,567
DIAMOND LEASE	PDP		12,364		0		366,072		248,182
	BHP		0		23,904		12,265		9,331
	PUD		19,266		0		741,352		274,224
ECKROAT #1-15	PDP		63		0		291		274
FRANK EDGE #1-11	PDP		6		77		287		229
IDA EDGE #1-11	PDP		16		386		1,653		1,029
FOLMAR #1-27	PDP		6,189		0		230,523		129,282
DORA HELMS #3-2	PDP		726		10,779		42,647		27,623
DORA HELMS #4-2	PDP		0		2,816		1,954		1,661
HENDRICKS #1-15	PDP		0		17		7		6
HENDRICKS TRUST #1-22	PDP		0		0		0		0
IDA HOLLIE #1-20	PDP		0		2,082		5,155		4,050
IDA HOLLIE #2-20	PDP		0		294		198		167
E E HOUSE #10-12	PDP		0		18,127		23,860		17,237
JESSIE #1-24	PDP		0		304		386		342
JESSIE TOWNSITE #1-2	PDP		5,968		0		212,619		128,918
KOLB #1-15	PDP		0		0		0		0



fieldpoint 2010 — TABLES		1

RESERVE AND ECONOMIC EVALUATION
FIELDPOINT PETROLEUM CORPORATION
AS OF JANUARY 1, 2010


		NET OIL		NET GAS		FUTURE NET		DISCOUNTED
NAME	STATUS	BBLS		MCF		CASHFLOW		10% $

LEWIS #1-11	PDP		405		8,023		22,859		13,646
LIVELY #1-6	PDP		0		1,151		2,116		1,680
MCBRIDE #1-8	PDP		0		0		0		0
MCCURTAIN #1-1	PDP		471		1,856		12,541		10,092
MCDONALD LEASE	PDP		1,054		0		12,726		10,697
	BHP		9,398		24,910		434,637		267,257
MCINTOSH #1-11	PDP		0		479		735		480
MOONEY #1-29	PDP		1,046		0		23,812		14,795
MOUNT GILCREASE #1-6	PDP		0		0		0		0
MOUNT GILCREASE #1-7	PDP		0		0		0		0
MOUNT GILCREASE #2-12	PDP		0		0		0		0
MOUNT GILCREASE #2-16	PDP		0		0		0		0
MOUNT GILCREASE #3-12	PDP		0		0		0		0
MOUNT GILCREASE #4-2	PDP		0		0		0		0
MOUNT GILCREASE #5-3	PDP		0		0		0		0
MOUNT GILCREASE #5-4	PDP		0		0		0		0
MOUNT GILCREASE #8-6	PDP		0		0		0		0
MOUNT GILCREASE #8-9	PDP		0		0		0		0
MOUNT GILCREASE UNIT	PDP		3,313		0		19,181		17,944
MOUNT GILCREASE UNIT	BHP		0		371,328		306,327		227,068
MOUNT GILCREASE UNIT	BHP		136,562		0		4,911,788		2,230,814
MUSE #1-35	PDP		1,156		0		32,244		20,612
NAN LEASE	PDP		1,045		0		16,578		12,836
NAN #1-30	BHP		0		22,403		25,256		19,721
NAN #2-30	BHP		2,974		0		113,144		76,958
NORTH STEEDMAN #2-11	PDP		0		0		0		0
NORTH STEEDMAN #8-1	PDP		0		0		0		0
NORTHEAST FITTS UNIT	PDP		118		0		2,393		2,005
PARMENTER #2-4	PDP		0		1,006		1,295		1,127
K O PAYNE #1-10	PDP		0		278		176		165
PETTYJOHN B	PDP		0		0		0		0
CE PETTYJOHN	PDP		24		1,253		152		288



fieldpoint 2010 — TABLES		2

RESERVE AND ECONOMIC EVALUATION
FIELDPOINT PETROLEUM CORPORATION
AS OF JANUARY 1, 2010


		NET OIL		NET GAS		FUTURE NET		DISCOUNTED
NAME	STATUS	BBLS		MCF		CASHFLOW		10% $

GLADYS PETTYJOHN	PDP		0		0		0		0
POLLARD #2-31	PDP		75		2,393		3,504		2,729
POWELL D #1-22	PDP		0		1,935		2,636		2,162
PROVENCE #1-2	PDP		0		0		0		0
PROVENCE A LEASE	PDP		0		7,523		5,756		4,639
	BHP		12,176		0		399,916		229,541
	PUD		4,116		0		125,795		75,936
ROSSER 1-31	PDP		1		140		324		251
ROZIE #1-31	PDP		4		448		1,257		806
SANDY A #1-8	PDP		0		0		0		0
SHAW #1-11	PDP		0		0		0		0
SHAW #2-11	PDP		0		0		0		0
R W SIMPSON #1-12	PDP		0		0		0		0
TEX #1-14	PDP		0		2,245		2,139		1,547
THOMAS #1-20	PDP		17,324		0		657,819		399,076
GEORGE THOMPSON #1-1	PDP		1,500		0		41,910		26,803
PHARR THOMPSON #1-2	PDP		102		1,133		3,326		2,532
THOMPSON HEIRS #4 & 5-2	PDP		2,428		0		61,000		43,866
TROGDEN #1-15	PDP		0		83		28		27
VIRGINIA #1-31	PDP		2		252		409		323

PROVED DEVELOPED PRODUCING			58,725		85,617		1,934,538		1,236,677
BEHIND-PIPE			168,474		503,784		6,567,205		3,281,458
PROVED UNDEVELOPED			42,194		22,576		1,710,949		717,830

SUMMARY PROVED			269,393		611,977		10,212,692		5,235,965



fieldpoint 2010 — TABLES		3


		RESERVES AND ECONOMICS SUMMARY PROVED

AS OF JAN 1, 2010
Run Date 1/15/2010 22:25


INTERESTS AND DATE FIRST EFFECTIVE				PRESENT WORTH M$
COST	LIQUID	GAS	DATE		5.000	7115.311
					10.000	5235.965
					15.000	4023.649
					20.000	3201.118
					25.000	2619.266


	WELL COUNT				API	BASE	TRANS.	PROD.	ADVAL	PRICES						CF/BBL		GROSS		RESERVES				% GROSS
	GROSS		NET		OR BTU	PRICE	CHARGE	TAXES	TAXES	BEGIN		ENDING		LIFE WT		BL/MMCF		CUMULATIVE		REMAINING		ULTIMATE		REMAINING
OIL		189		41.57							51.12		51.12		51.12		5643		7812.13		1476.75		9288.88	15.90	% OIL
GAS		56		9.03							3.45		1.78		1.75		177		87757.91		8664.88		96422.79	8.99	% GAS
COND		0		0.00							51.12		51.12		51.12		0		362.13		58.70		420.83	13.95	% COND


	GROSS		GROSS OIL +		GROSS GAS		NET OIL		NET GAS		EFF OIL &		EFFECTIVE		OIL + COND		GAS		TOTAL
	WELL COUNT		COND PROD		PRODUCTION		COND PROD		PRODUCTION		COND PRICE		GAS PRICE		SALES		SALES		SALES
YEAR	WELLS/MO		MBBLS		MMCF		MBBLS		MMCF		$/BBL		$/MCF		M$		M$		M$
2010		109.000		88.835		1041.806		8.012		13.410		51.120		3.483		409.592		46.705		456.297
2011		132.000		96.380		1103.530		10.919		57.827		51.120		2.385		558.158		137.891		696.049
2012		95.000		104.017		1606.589		13.814		194.410		51.120		1.525		706.147		296.554		1002.701
2013		111.000		115.614		1444.503		17.474		183.573		51.120		1.444		893.264		265.078		1158.342
2014		112.000		121.923		817.333		19.885		67.244		51.120		1.620		1016.538		108.912		1125.450
2015		119.000		128.789		601.774		22.255		35.008		51.120		1.836		1137.701		64.272		1201.973
2016		109.000		124.517		438.198		24.267		14.292		51.120		2.444		1240.508		34.936		1275.444
2017		107.000		112.751		371.832		22.704		11.638		51.120		2.447		1160.654		28.483		1189.137
2018		100.000		99.128		308.140		19.973		6.983		51.120		2.749		1021.015		19.198		1040.213
2019		96.000		87.283		226.381		17.595		5.439		51.120		2.909		899.435		15.824		915.259
2020		94.000		76.760		158.713		15.502		4.942		51.120		2.886		792.477		14.263		806.739
2021		91.000		66.849		126.924		13.494		4.236		51.120		2.860		689.815		12.112		701.927
2022		85.000		57.043		83.110		11.538		2.171		51.120		2.516		589.809		5.462		595.271
2023		80.000		49.932		72.582		10.109		1.721		51.120		2.337		516.754		4.023		520.777
2024		80.000		42.866		65.923		8.685		1.618		51.120		2.321		443.956		3.754		447.710
SUB TOTAL		132.000		1372.687		8467.338		236.225		604.511		51.120		1.749		12075.824		1057.465		13133.289
REMAINDER		78.000		162.764		197.541		33.168		7.466		51.120		2.062		1695.565		15.391		1710.956
TOT 22.7 YR		132.000		1535.451		8664.879		269.393		611.977		51.120		1.753		13771.389		1072.856		14844.245


	EFFECTIVE		NET TOTAL		DIR OPR EXP		TOT OPR EXP		OPERATING		TOT INVEST		NET		CUM NET		NET C.F.		CUM C.F.
	WPT TAX		PROD TAXES		ADVAL TAX		+ TAXES		REVENUE		TANG+INTANG		CASHFLOW		CASHFLOW		DISC @ 10.0		DISC @ 10.0
YEAR	M$		M$		M$		M$		M$		M$		M$		M$		M$		M$
2010		0.000		32.833		149.500		182.333		273.964		0.000		273.964		273.964		260.682		260.682
2011		0.000		50.069		169.234		219.302		476.746		115.225		361.521		635.485		308.825		569.507
2012		0.000		72.139		141.971		214.110		788.591		66.000		722.591		1358.076		565.884		1135.390
2013		0.000		83.343		161.810		245.153		913.189		62.700		850.489		2208.565		606.800		1742.190
2014		0.000		80.982		174.398		255.379		870.070		26.400		843.670		3052.236		547.093		2289.283
2015		0.000		86.485		183.944		270.429		931.544		29.700		901.844		3954.079		531.291		2820.574
2016		0.000		91.769		176.519		268.289		1007.156		26.400		980.756		4934.835		525.662		3346.235
2017		0.000		85.565		180.169		265.734		923.403		0.000		923.403		5858.238		450.796		3797.031
2018		0.000		74.839		172.705		247.544		792.669		0.000		792.669		6650.907		351.708		4148.739
2019		0.000		65.849		168.133		233.982		681.278		0.000		681.278		7332.185		274.799		4423.539
2020		0.000		58.043		167.192		225.235		581.504		0.000		581.504		7913.688		213.246		4636.785
2021		0.000		50.503		164.524		215.027		486.900		0.000		486.900		8400.588		162.407		4799.192
2022		0.000		42.827		153.472		196.300		398.971		0.000		398.971		8799.559		120.927		4920.119
2023		0.000		37.473		148.572		186.046		334.731		0.000		334.731		9134.290		92.260		5012.378
2024		0.000		32.211		146.697		178.908		268.802		0.000		268.802		9403.092		67.364		5079.743
SUB TOTAL		0.000		944.931		2458.841		3403.772		9729.517		326.425		9403.092		9403.092		5079.743		5079.743
REMAINDER		0.000		123.109		778.248		901.357		809.600		0.000		809.600		10212.692		156.223		5235.965
TOT 22.7 YR		0.000		1068.040		3237.089		4305.128		10539.117		326.425		10212.692		10212.692		5235.965		5235.965


		RESERVES AND ECONOMICS SUMMARY PROVED DEVELOPED PRODUCING

AS OF JAN 1, 2010
Run Date 1/15/2010 22:38


INTERESTS AND DATE FIRST EFFECTIVE				PRESENT WORTH M$
COST	LIQUID	GAS	DATE		5.000	1511.936
					10.000	1236.677
					15.000	1046.801
					20.000	909.476
					25.000	806.230


	WELL COUNT				API	BASE	TRANS.	PROD.	ADVAL	PRICES						CF/BBL		GROSS		RESERVES				% GROSS
	GROSS		NET		OR BTU	PRICE	CHARGE	TAXES	TAXES	BEGIN		ENDING		LIFE WT		BL/MMCF		CUMULATIVE		REMAINING		ULTIMATE		REMAINING
OIL		115		23.07							51.12		51.12		51.12		11323		7771.28		489.88		8261.16		5.93	% OIL
GAS		34		3.53							3.45		3.40		3.53		88		87724.46		6211.51		93935.97		6.61	% GAS
COND		0		0.00							51.12		51.12		51.12		0		362.13		58.70		420.83		13.95	% COND


	GROSS		GROSS OIL +		GROSS GAS		NET OIL		NET GAS		EFF OIL &		EFFECTIVE		OIL + COND		GAS		TOTAL
	WELL COUNT		COND PROD		PRODUCTION		COND PROD		PRODUCTION		COND PRICE		GAS PRICE		SALES		SALES		SALES
YEAR	WELLS/MO		MBBLS		MMCF		MBBLS		MMCF		$/BBL		$/MCF		M$		M$		M$
2010		109.000		88.835		1041.806		8.012		13.410		51.120		3.483		409.592		46.705		456.297
2011		106.000		77.442		875.906		7.084		10.760		51.120		3.548		362.113		38.180		400.292
2012		49.000		62.254		750.273		5.114		9.604		51.120		3.539		261.403		33.986		295.390
2013		49.000		55.140		636.662		4.694		8.669		51.120		3.538		239.950		30.669		270.619
2014		48.000		48.682		541.232		4.308		7.807		51.120		3.536		220.242		27.607		247.849
2015		46.000		43.080		469.899		3.946		6.826		51.120		3.533		201.745		24.117		225.862
2016		43.000		27.556		397.858		3.505		5.938		51.120		3.518		179.155		20.894		200.049
2017		41.000		21.853		338.852		3.220		4.809		51.120		3.514		164.581		16.900		181.481
2018		36.000		19.594		292.974		2.930		3.814		51.120		3.537		149.777		13.490		163.266
2019		33.000		17.402		216.183		2.630		3.308		51.120		3.519		134.424		11.641		146.065
2020		31.000		15.301		149.276		2.350		2.970		51.120		3.514		120.146		10.437		130.584
2021		28.000		13.550		119.308		2.093		2.644		51.120		3.509		106.996		9.277		116.273
2022		25.000		11.621		78.199		1.820		1.144		51.120		3.626		93.025		4.147		97.172
2023		20.000		9.892		67.916		1.550		.746		51.120		3.717		79.218		2.775		81.993
2024		20.000		8.868		61.491		1.385		.692		51.120		3.714		70.780		2.569		73.349
SUB TOTAL		109.000		521.070		6037.835		54.639		83.140		51.120		3.529		2793.147		293.394		3086.541
REMAINDER		20.000		27.511		173.672		4.086		2.477		51.120		3.636		208.893		9.005		217.899
TOT 22.7 YR		109.000		548.581		6211.507		58.725		85.617		51.120		3.532		3002.040		302.399		3304.439


	EFFECTIVE		NET TOTAL		DIR OPR EXP		TOT OPR EXP		OPERATING		TOT INVEST		NET		CUM NET		NET C.F.		CUM C.F.
	WPT TAX		PROD TAXES		ADVAL TAX		+ TAXES		REVENUE		TANG+INTANG		CASHFLOW		CASHFLOW		DISC @ 10.0		DISC @ 10.0
YEAR	M$		M$		M$		M$		M$		M$		M$		M$		M$		M$
2010		0.000		32.833		149.500		182.333		273.964		0.000		273.964		273.964		260.682		260.682
2011		0.000		28.798		136.288		165.085		235.207		0.000		235.207		509.171		203.357		464.039
2012		0.000		21.247		68.546		89.793		205.597		0.000		205.597		714.768		161.534		625.573
2013		0.000		19.467		68.510		87.977		182.643		0.000		182.643		897.410		130.478		756.051
2014		0.000		17.842		68.348		86.189		161.660		0.000		161.660		1059.070		105.058		861.109
2015		0.000		16.258		66.944		83.202		142.660		0.000		142.660		1201.730		84.291		945.400
2016		0.000		14.394		59.819		74.214		125.835		0.000		125.835		1327.565		67.556		1012.956
2017		0.000		13.063		57.669		70.732		110.748		0.000		110.748		1438.313		54.089		1067.045
2018		0.000		11.745		54.055		65.800		97.467		0.000		97.467		1535.780		43.224		1110.269
2019		0.000		10.508		50.233		60.741		85.325		0.000		85.325		1621.104		34.403		1144.673
2020		0.000		9.392		49.292		58.684		71.899		0.000		71.899		1693.004		26.350		1171.022
2021		0.000		8.360		48.874		57.234		59.039		0.000		59.039		1752.042		19.666		1190.688
2022		0.000		6.991		42.322		49.314		47.858		0.000		47.858		1799.901		14.508		1205.196
2023		0.000		5.900		37.422		43.323		38.670		0.000		38.670		1838.570		10.667		1215.863
2024		0.000		5.278		37.422		42.700		30.649		0.000		30.649		1869.219		7.686		1223.549
SUB TOTAL		0.000		222.077		995.245		1217.322		1869.219		0.000		1869.219		1869.219		1223.549		1223.549
REMAINDER		0.000		15.682		136.898		152.580		65.319		0.000		65.319		1934.538		13.128		1236.677
TOT 22.7 YR		0.000		237.759		1132.143		1369.901		1934.538		0.000		1934.538		1934.538		1236.677		1236.677


		RESERVES AND ECONOMICS SUMMARY BEHIND-PIPE

AS OF JAN 1, 2010
Run Date 1/15/2010 22:41


INTERESTS AND DATE FIRST EFFECTIVE				PRESENT WORTH M$
COST	LIQUID	GAS	DATE		5.000	4533.398
					10.000	3281.458
					15.000	2467.605
					20.000	1914.068
					25.000	1523.101


	WELL COUNT				API	BASE	TRANS.	PROD.	ADVAL	PRICES						CF/BBL		GROSS		RESERVES				% GROSS
	GROSS		NET		OR BTU	PRICE	CHARGE	TAXES	TAXES	BEGIN		ENDING		LIFE WT		BL/MMCF		CUMULATIVE		REMAINING		ULTIMATE		REMAINING
OIL		63		15.75							0.00		51.12		51.12		2988		0.00		784.88		784.88	100.00	% OIL
GAS		22		5.50							0.00		1.50		1.47		335		0.00		2345.38		2345.38	100.00	% GAS
COND		0		0.00							0.00		0.00		0.00		0		0.00		0.00		0.00	0.00	% COND


	GROSS		GROSS OIL +		GROSS GAS		NET OIL		NET GAS		EFF OIL &		EFFECTIVE		OIL + COND		GAS		TOTAL
	WELL COUNT		COND PROD		PRODUCTION		COND PROD		PRODUCTION		COND PRICE		GAS PRICE		SALES		SALES		SALES
YEAR	WELLS/MO		MBBLS		MMCF		MBBLS		MMCF		$/BBL		$/MCF		M$		M$		M$
2010		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000
2011		16.000		13.415		223.361		2.683		46.175		51.120		2.135		137.155		98.569		235.724
2012		36.000		31.020		848.108		6.456		183.090		51.120		1.422		330.031		260.371		590.402
2013		52.000		49.572		800.044		10.502		173.274		51.120		1.341		536.862		232.322		769.185
2014		54.000		61.855		268.694		13.198		57.889		51.120		1.370		674.682		79.323		754.005
2015		63.000		73.164		124.839		15.688		26.711		51.120		1.433		801.971		38.272		840.243
2016		56.000		82.091		33.656		17.656		6.957		51.120		1.761		902.575		12.254		914.829
2017		56.000		75.413		26.631		16.250		5.502		51.120		1.797		830.700		9.885		840.585
2018		54.000		65.224		9.134		14.053		1.908		51.120		2.146		718.389		4.094		722.484
2019		53.000		56.644		4.468		12.200		.933		51.120		2.840		623.664		2.650		626.314
2020		53.000		49.206		3.994		10.593		.834		51.120		2.840		541.514		2.369		643.883
2021		53.000		41.948		2.446		9.030		.511		51.120		2.840		461.614		1.451		463.065
2022		50.000		34.900		0.000		7.520		0.000		51.120		0.000		384.422		0.000		384.422
2023		50.000		30.279		0.000		6.520		0.000		51.120		0.000		333.302		0.000		333.302
2024		50.000		24.937		0.000		5.407		0.000		51.120		0.000		276.406		0.000		276.406
SUB TOTAL		63.000		689.668		2345.375		147.756		503.784		51.120		1.472		7553.287		741.560		8294.847
REMAINDER		48.000		95.217		0.000		20.718		0.000		51.120		0.000		1059.104		0.000		1059.104
TOT 21.9 YR		63.000		784.885		2345.375		168.474		503.784		51.120		1.472		8612.391		741.560		9353.951


	EFFECTIVE		NET TOTAL		DIR OPR EXP		TOT OPR EXP		OPERATING		TOT INVEST		NET		CUM NET		NET C.F.		CUM C.F.
	WPT TAX		PROD TAXES		ADVAL TAX		+ TAXES		REVENUE		TANG+INTANG		CASHFLOW		CASHFLOW		DISC @ 10.0		DISC @ 10.0
YEAR	M$		M$		M$		M$		M$		M$		M$		M$		M$		M$
2010		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000
2011		0.000		16.942		27.996		44.938		190.786		64.625		126.161		126.161		106.104		106.104
2012		0.000		42.479		58.125		100.604		489.798		66.000		423.798		549.959		331.172		437.276
2013		0.000		55.349		78.000		133.349		635.836		62.700		573.136		1123.095		408.795		846.072
2014		0.000		54.249		90.750		144.999		609.006		26.400		582.606		1705.700		377.602		1223.674
2015		0.000		60.453		101.700		162.153		678.090		29.700		648.390		2354.090		381.794		1605.468
2016		0.000		65.820		101.400		167.220		747.609		26.400		721.209		3075.298		386.579		1992.047
2017		0.000		60.481		107.200		167.681		672.904		0.000		672.904		3748.202		328.534		2320.581
2018		0.000		51.983		103.350		155.333		567.151		0.000		567.151		4315.353		251.706		2572.287
2019		0.000		45.061		102.600		147.661		478.653		0.000		478.653		4794.006		193.103		2765.390
2020		0.000		39.133		102.600		141.733		402.150		0.000		402.150		5196.155		147.503		2912.893
2021		0.000		33.322		100.350		133.672		329.393		0.000		329.393		5525.548		109.931		3022.824
2022		0.000		27.657		95.850		123.507		260.915		0.000		260.915		5786.464		79.096		3101.921
2023		0.000		23.983		95.850		119.833		213.469		0.000		213.469		5999.933		58.846		3160.767
2024		0.000		19.886		93.975		113.861		162.545		0.000		162.545		6162.478		40.752		3201.518
SUB TOTAL		0.000		596.798		1259.746		1856.544		6438.303		275.825		6162.478		6162.478		3201.518		3201.518
REMAINDER		0.000		76.202		578.175		654.377		404.727		0.000		404.727		6567.205		79.940		3281.458
TOT 21.9 YR		0.000		673.000		1837.921		2510.921		6843.030		275.825		6567.205		6567.205		3281.458		3281.458


		RESERVES AND ECONOMICS SUMMARY PROVED UNDEVELOPED

AS OF JAN 1, 2010
Run Date 1/15/2010 22:41


INTERESTS AND DATE FIRST EFFECTIVE				PRESENT WORTH M$
COST	LIQUID	GAS	DATE		5.000	1069.976
					10.000	717.830
					15.000	509.244
					20.000	377.575
					25.000	289.935


	WELL COUNT				API	BASE	TRANS.	PROD.	ADVAL	PRICES						CF/BBL		GROSS		RESERVES				% GROSS
	GROSS		NET		OR BTU	PRICE	CHARGE	TAXES	TAXES	BEGIN		ENDING		LIFE WT		BL/MMCF		CUMULATIVE		REMAINING		ULTIMATE		REMAINING
OIL		10		2.50							0.00		51.12		51.12		535		0.00		201.98		201.98		100.00	% OIL
GAS		0		0.00							0.00		1.28		1.28		1870		0.00		108.00		108.00		100.00	% GAS
COND		0		0.00							0.00		0.00		0.00		0		0.00		0.00		0.00		0.00	% COND


	GROSS		GROSS OIL +		GROSS GAS		NET OIL		NET GAS		EFF OIL &		EFFECTIVE		OIL + COND		GAS		TOTAL
	WELL COUNT		COND PROD		PRODUCTION		COND PROD		PRODUCTION		COND PRICE		GAS PRICE		SALES		SALES		SALES
YEAR	WELLS/MO		MBBLS		MMCF		MBBLS		MMCF		$/BBL		$/MCF		M$		M$		M$
2010		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000
2011		10.000		5.523		4.263		1.152		.892		51.120		1.280		58.890		1.142		60.032
2012		10.000		10.743		8.208		2.244		1.716		51.120		1.280		114.713		2.196		116.910
2013		10.000		10.902		7.797		2.278		1.630		51.120		1.280		116.451		2.086		118.538
2014		10.000		11.386		7.407		2.379		1.548		51.120		1.280		121.614		1.981		123.596
2015		10.000		12.545		7.036		2.621		1.471		51.120		1.280		133.986		1.883		135.868
2016		10.000		14.870		6.684		3.106		1.397		51.120		1.280		158.779		1.788		160.567
2017		10.000		15.485		6.349		3.235		1.327		51.120		1.280		165.373		1.699		167.072
2018		10.000		14.310		6.032		2.990		1.261		51.120		1.280		152.849		1.614		154.463
2019		10.000		13.237		5.730		2.765		1.198		51.120		1.280		141.347		1.533		142.880
2020		10.000		12.253		5.443		2.559		1.138		51.120		1.280		130.816		1.457		132.273
2021		10.000		11.351		5.170		2.371		1.081		51.120		1.280		121.206		1.384		122.589
2022		10.000		10.522		4.911		2.198		1.027		51.120		1.280		112.362		1.315		113.676
2023		10.000		9.761		4.666		2.039		.975		51.120		1.280		104.234		1.248		105.482
2024		10.000		9.061		4.432		1.893		.926		51.120		1.280		96.770		1.185		97.955
SUB TOTAL		10.000		161.949		84.128		33.830		17.587		51.120		1.280		1729.390		22.511		1751.901
REMAINDER		10.000		40.036		23.869		8.364		4.989		51.120		1.280		427.568		6.386		433.954
TOT 21.5 YR		10.000		201.985		107.997		42.194		22.576		51.120		1.280		2156.957		28.897		2185.855


	EFFECTIVE		NET TOTAL		DIR OPR EXP		TOT OPR EXP		OPERATING		TOT INVEST		NET		CUM NET		NET C.F.		CUM C.F.
	WPT TAX		PROD TAXES		ADVAL TAX		+ TAXES		REVENUE		TANG+INTANG		CASHFLOW		CASHFLOW		DISC @ 10.0		DISC @ 10.0
YEAR	M$		M$		M$		M$		M$		M$		M$		M$		M$		M$
2010		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000		0.000
2011		0.000		4.329		4.950		9.279		50.753		50.600		.153		.153		-.637		-.637
2012		0.000		8.413		15.300		23.713		93.197		0.000		93.197		93.350		73.178		72.541
2013		0.000		8.527		15.300		23.827		94.711		0.000		94.711		188.061		67.527		140.068
2014		0.000		8.891		15.300		24.191		99.405		0.000		99.405		287.465		64.433		204.501
2015		0.000		9.774		15.300		25.074		110.794		0.000		110.794		398.260		65.206		269.706
2016		0.000		11.555		15.300		26.855		133.712		0.000		133.712		531.972		71.527		341.233
2017		0.000		12.021		15.300		27.321		139.751		0.000		139.751		671.722		68.173		409.406
2018		0.000		11.111		15.300		26.411		128.052		0.000		128.052		799.774		56.778		466.183
2019		0.000		10.280		15.300		25.580		117.300		0.000		117.300		917.075		47.293		513.476
2020		0.000		9.518		15.300		24.818		107.455		0.000		107.455		1024.529		39.393		552.869
2021		0.000		8.821		15.300		24.121		98.468		0.000		98.468		1122.998		32.811		585.680
2022		0.000		8.179		15.300		23.479		90.197		0.000		90.197		1213.195		27.323		613.003
2023		0.000		7.590		15.300		22.890		82.592		0.000		82.592		1295.787		22.746		635.748
2024		0.000		7.047		15.300		22.347		75.608		0.000		75.608		1371.395		18.927		654.675
SUB TOTAL		0.000		126.056		203.850		329.906		1421.995		50.600		1371.395		1371.395		654.675		654.675
REMAINDER		0.000		31.225		63.175		94.400		339.554		0.000		339.554		1710.949		63.154		717.830
TOT 21.5 YR		0.000		157.281		267.025		424.306		1761.549		50.600		1710.949		1710.949		717.830		717.830

Fletcher Lewis Engineering, Inc.

Standard Board and Rules 4-10(a) (1)-(32) of Regulation S-X and Rules 302(b), 1201, 1202(a) (1), (2), (3), (4), (8), and 1203(a) of Regulations S-K of the Securities and Exchange Commission; provided, however, future income tax expenses have not been taken into account in estimating the future net revenue and present worth values set forth herein.

Fletcher Lewis Engineering, Inc. is an independent petroleum engineering consulting firm that has been providing petroleum consulting services throughout the United States for over 28 years. Fletcher Lewis Engineering, Inc. does not have any financial interest including stock ownership, in FieldPoint. Our fees were not contingent on the results of our evaluation. This letter report has been prepared at the request of FieldPoint and should not be used for purposes other than those for which it is intended. Fletcher Lewis Engineering, Inc. has used all procedures and methods that it considers necessary to prepare this report.


	Submitted,
	/s/ Fletcher Lewis Engineering, Inc.
	Fletcher Lewis Engineering, Inc
	Oklahoma Registered Engineering Firm CA-804 Texas Registration ID #47928 Oklahoma Registration ID # 11663


	/s/ Fletcher Lewis, P.E.
	Fletcher Lewis, P.E.
	President Fletcher Lewis Engineering, Inc.

CERTIFICATE of QUALIFICATION

I, Fletcher Lewis, Petroleum Engineer with Fletcher Lewis Engineering, Inc., 5001 N. Pennsylvania, Suite 300, Oklahoma City, Oklahoma, 73112 U.S.A., hereby certify:

	1.		That I am President with Fletcher Lewis Engineering, Inc., which company did prepare the letter report addressed to FieldPoint dated March 1, 2010, and that I, as President, was responsible for the preparation of this report.

	2.		That I attended Oklahoma University, and that I graduated with a Master of Science degree in Petroleum Engineering in the year 1978; that I am a Registered Professional Engineer in the State of Texas and Oklahoma; that I am a member of the Society of Petroleum Engineers and the American Association of Petroleum Geologists; and that I have in excess of 35 years of experience in the oil and gas reservoir studies and reserves evaluations.



	/s/ Fletcher Lewis, P.E.
	Fletcher Lewis, P.E.
	President Fletcher Lewis Engineering, Inc.

FIELDPOINT PETROLEUM CORP - FORM 10-K/A - EX-99.1 - EXHIBIT 99.1 - January 11, 2011

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FIELDPOINT PETROLEUM CORP Reports