Phillip Roberson, FieldPoint President and CFO, stated, "I am pleased to report that the Ranger Project, with our drilling partner Riley Exploration Group, LLC, is well underway. We have now completed the drilling of three horizontal wells, and we have just started the horizontal leg of the fourth well. As previously stated, we plan to drill up to twelve horizontal Taylor Sand wells this year in the Serbin Field located in Lee and Bastrop Counties, Texas.
Mr. Roberson added, "The Ranger 8A-2H and 3H are being pad drilled on the Ranger 8A-1H drill site, which will save both time and money. We will continue this approach wherever possible in order to help meet our schedule and budget objectives. Our drilling partner has significant expertise in the type drilling we are doing, and we expect that to also contribute greatly toward meeting those objectives."