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December 1, 2006 Stock Pick: Fieldpoint Petroleum Corporation (FPP)

Stock Price: $2.27

FieldPoint Petroleum Corporation is engaged in oil and natural gas exploration, production and acquisition, primarily in Louisiana, New Mexico, Oklahoma, Texas and Wyoming.

For the most recent quarter, FPP kept their revenue stable at $1.05 million, yet increased their net income by 51% to $374,982. This increased earnings per share from $0.03 to $0.04.

The company has a $50 million revolving credit line with Citibank to add more oil and gas properties to increase shareholder value.

Yesterday, FPP traded 5.3 times average volume. This marked the fourth straight day of increasing volume. A breakout occurred yesterday with FPP climbing 9.13%. FPP should not have a problem experiencing greater gains over the coming days.

FPP is trading at a PE of only 14.65 and at only 2.6 times book value. There are only 5.06 million FPP shares in the float.

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