U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                   FORM 10-QSB

[X]      Quarterly  Report under Section 13 or 15(d) of the Securities  Exchange
         Act of 1934 For the Quarterly Period Ended September 30, 2000

[ ]      Transition  Report under Section 13 or 15(d) of the Securities Exchange
         Act of 1934
         For the Transition Period from __________ to _________

         Commission file number: 0-9435


                        FieldPoint Petroleum Corporation
                        --------------------------------
        (Exact name of small business issuer as specified in its charter)

         Colorado                                   84-0811034
         --------                                   ----------
         (State or other jurisdiction of            (I.R.S. Employer
         incorporation or organization)             Identification No.)


         1703 Edelweiss Drive
         Cedar Park, Texas                             78613
         -----------------                             -----
         (Address of principal executive offices)    (Zip Code)


                                 (512) 250-8692
                                 --------------
                           (Issuer's telephone number)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X  No
                                                             ---   ---

As of October 31, 2000,  the number of shares  outstanding  of the  Registrant's
$.01 par value Common Stock was 6,995,925.

Transitional Small Business Disclosure Format (Check one):

                                 Yes    No X
                                    ---   ---


<PAGE>

<TABLE>

<CAPTION>

PART I
Item 1. Condensed Consolidated Financial Statements

                        FieldPoint Petroleum Corporation
                      CONDENSED CONSOLIDATED BALANCE SHEETS

                                     ASSETS
                                     ------
                                                                September 30,   December 31,
                                                                     2000           1999
                                                                 -----------    -----------
<S>                                                              <C>            <C>
CURRENT ASSETS:                                                  (unaudited)
---------------
   Cash                                                          $   426,281    $   117,259
   Trading securities                                                  2,880          2,880
   Accounts receivable:
       Advances                                                        7,500           --
       Oil and gas sales                                             164,467        135,067
       Joint interest billings, less allowance for doubtful
            accounts of $74,192 and $71,192 respectively              73,043         84,906
   Prepaid expenses                                                   54,534          2,535
                                                                 -----------    -----------
                  Total current assets                               728,705        342,647
PROPERTY AND EQUIPMENT:

   Oil and gas properties (successful efforts method):
       Leasehold costs                                             2,613,923      2,396,998
       Lease and well equipment                                      428,022        351,425
   Furniture and equipment                                            32,497         32,280
   Transportation equipment                                           75,974         75,974
   Less accumulated depletion and depreciation                      (793,005)      (675,424)
                                                                 -----------    -----------
                  Net property and equipment                       2,357,411      2,181,253
OTHER ASSETS
                  Total assets                                       218,459         25,981
                                                                 -----------    -----------
                                                                 $ 3,304,575    $ 2,549,881
                                                                 ===========    ===========

                      LIABILITIES AND STOCKHOLDERS' EQUITY
                      ------------------------------------
CURRENT LIABILITIES:
--------------------
   Current portion of long-term debt                             $   284,817    $   409,132
   Accounts payable and accrued expenses                              43,638        112,339
   Oil and gas revenues payable                                       67,573         49,799
                                                                 -----------    -----------
                  Total current liabilities                          396,028        571,270

LONG-TERM DEBT, net of current portion                               360,348        559,462
DEFERRED INCOME TAXES                                                 44,000         15,954

COMMMITMENTS
STOCKHOLDERS' EQUITY:
   Common stock, $.01 par value, 75,000,000 shares authorized;
       6,995,925 and 6,331,925 shares issued and outstanding,
       respectively                                                   69,959         63,319
   Additional paid-in capital                                      1,904,627      1,177,785
   Treasury stock, 117,500 shares of common stock                     (1,175)        (1,175)
    Retained earnings                                                530,788        163,266
                                                                 -----------    -----------
                  Total stockholders' equity                       2,504,199      1,403,195
                                                                 -----------    -----------
                  Total liabilities and stockholders' equity     $ 3,304,575    $ 2,549,881
                                                                 ===========    ===========
</TABLE>

        See accompanying notes to these consolidated financial statements


<PAGE>

                        FieldPoint Petroleum Corporation
      CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

                                                 For The Three Months Ended
                                                         September 30,
                                                     -------------------
                                                     2000           1999
                                                 -----------    -----------
                                                 (unaudited)    (unaudited)
REVENUE:
  Oil and gas sales                              $   383,942    $   248,677
  Well operational and pumping fees                   32,219         32,759
  Other                                                 --             --
                                                 -----------    -----------
                  Total revenue                      416,161        281,436

COSTS AND EXPENSES:

  Production expense                                 152,131         96,103
  Depletion and depreciation                          39,000         36,000
  General and administrative                          55,018         81,246
                                                 -----------    -----------
                  Total costs and expenses           246,149        213,349

OTHER INCOME (EXPENSE):
  Interest income (expense), net                     (21,545)       (27,933)
  Miscellaneous                                        7,897             45
                                                 -----------    -----------


                  Total other income (expense)       (13,648)       (27,888)
                                                 -----------    -----------

INCOME BEFORE INCOME TAXES                           156,364         40,199

INCOME TAX (PROVISION)                               (39,160)        (6,200)
                                                 -----------    -----------

NET INCOME                                           117,204         33,999

BASIC AND DILUTED NET INCOME PER SHARE           $      0.02    $      *
                                                 -----------    -----------


WEIGHTED AVERAGE SHARES BASIC                      6,700,868      5,832,709
                                                 ===========    ===========
WEIGHTED AVERAGE SHARES DILUTED                    6,968,793      5,839,888
                                                 ===========    ===========

* Less than $.01


        See accompanying notes to these consolidated financial statements


<PAGE>




                        FieldPoint Petroleum Corporation
      CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

                                                 For The Nine Months Ended
                                                        September 30,
                                                     -------------------
                                                     2000           1999
                                                 -----------    -----------
                                                 (unaudited)    (unaudited)
REVENUE:
  Oil and gas sales                              $ 1,053,284    $   494,100
  Well operational and pumping fees                   96,884         98,708
                                                 -----------    -----------
                  Total revenue                    1,150,168        592,808

COSTS AND EXPENSES:
  Production expense                                 378,644        183,415
  Depletion and depreciation                         117,000        108,000
  General and administrative                         204,297        245,558
                                                 -----------    -----------
                  Total costs and expenses           699,941        536,973

OTHER INCOME (EXPENSE):
  Interest income (expense), net                     (62,669)       (58,368)
  Miscellaneous                                        8,010         24,706
                                                 -----------    -----------
                  Total other income (expense)       (54,659)       (33,662)
                                                 -----------    -----------

INCOME BEFORE INCOME TAXES                           395,568         22,173

INCOME TAX (PROVISION)                               (28,046)        (2,000)
                                                 -----------    -----------

NET AND COMPREHENSIVE INCOME                         367,522         20,173

BASIC NET INCOME PER SHARE                       $      0.06    $      *

DILUTED NET INCOME PER SHARE                     $      0.05    $      *
                                                 -----------    -----------

WEIGHTED AVERAGE SHARES BASIC                      6,478,932      5,717,076
                                                 ===========    ===========
WEIGHTED AVERAGE SHARES DILUTED                    7,072,948      6,089,363
                                                 ===========    ===========



* Less than $.01



        See accompanying notes to these consolidated financial statements


<PAGE>

<TABLE>

<CAPTION>

                        FieldPoint Petroleum Corporation
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

                                                                     September 30,
                                                                  -------------------
                                                                  2000           1999
                                                              -----------    -----------
                                                              (unaudited)    (unaudited)
<S>                                                           <C>            <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                                                  $   367,522    $    20,173
  Adjustments to reconcile to net cash
      Provided by operating activities:
  Depletion and depreciation                                      117,000        108,000
  Stock Compensation to Consultant                                 13,000         41,450
  Deferred Income Taxes                                            28,046           --
  Changes in assets and liabilities:
       Accounts receivable                                        (25,037)      (104,478)
       Taxes recoverable                                           48,000
       Prepaid expenses and other assets                            3,104        (11,250)
       Accounts payable and accrued expenses                      (68,701)       (50,600)
       Oil and gas revenues payable                                17,774         (3,038)
       Payable to related party                                      --          (13,800)
                                                              -----------    -----------
         Net cash provided (used) by operating activities         452,708         34,457


CASH FLOWS FROM INVESTING ACTIVITIES:
  Additions to oil and gas properties                            (293,522)    (1,218,335)
  Purchase of furniture and equipment                                (217)          (348)
  Decrease in earnest money deposit                                  --           40,000
                                                              -----------    -----------
         Net cash used by investing activities                   (293,739)    (1,178,683)

CASH FLOWS FROM FINANCING ACTIVITIES:
  Proceeds from long-term debt                                       --        1,110,000
  Repayments of long-term debt                                   (323,429)      (734,855)
  Proceeds from exercise of stock options & warrants,
                                    Net of fees                   473,482         46,000
  Proceeds from sales of common stock, net of offering fees          --          931,019
  Proceeds from sale of treasury stock                               --           50,905
                                                              -----------    -----------
         Net cash provided by financing activities                150,053      1,403,069
                                                              -----------    -----------

NET INCREASE IN CASH                                              309,022        258,843

CASH, beginning of the period                                     117,259          1,375
                                                              -----------    -----------

CASH, end of the period                                       $   426,281    $   260,218
                                                              ===========    ===========

SUPPLEMENTAL INFORMATION:

  Cash paid during the period for interest                    $    63,817    $    59,202
                                                              ===========    ===========
  Cash paid during the period for income taxes                       --             --
                                                              ===========    ===========

</TABLE>

       See accompanying notes to these consolidated financial statements.


<PAGE>

              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


1.  Nature of Business, Organization And Basis of Preparation And Presentation
    --------------------------------------------------------------------------

FieldPoint Petroleum  Corporation (the "Company") is incorporated under the laws
of the state of Colorado.  The Company is engaged in the acquisition,  operation
and  development of oil and gas  properties,  which are located in south central
Texas and Wyoming.

The  condensed  consolidated  financial  statements  included  herein  have been
prepared by the Company, without audit, pursuant to the rules and regulations of
the  Securities  and  Exchange  Commission.  Certain  information  and  footnote
disclosures  normally  included in financial  statements  prepared in accordance
with generally  accepted  accounting  principles have been condensed or omitted.
However,  in the opinion of management,  all adjustments  (which consist only of
normal recurring adjustments) necessary to present fairly the financial position
and  results of  operations  for the  periods  presented  have been made.  These
condensed  consolidated  financial statements should be read in conjunction with
financial statements and the notes thereto included in the Company's Form 10-KSB
filing for the year ended December 31, 1999.

2.  Stockholders Equity
    -------------------

During the period ended September 30, 2000, a board member exercised  options at
$.10 per share to acquire  25,000  shares of the Company's  common  stock.  Also
during the period,  the Company  issued  389,000  shares of common stock for the
exercise of  outstanding  warrants at $1.25 per share,  realizing  net  proceeds
after commissions of $461,982.





<PAGE>


PART I
Item 2

            MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The  following  discussion  should  be read in  conjunction  with the  Company's
Financial Statements,  and respective notes thereto,  included elsewhere herein.
The  information  below  should  not be  construed  to imply  that  the  results
discussed  herein  will  necessarily  continue  into  the  future  or  that  any
conclusion  reached herein will  necessarily  be indicative of actual  operating
results  in the  future.  Such  discussion  represents  only  the  best  present
assessment of the management of FieldPoint Petroleum Corporation.

General

FieldPoint  Petroleum  Corporation  derives  its  revenues  from  its  operating
activities  including sales of oil and gas and operating oil and gas properties.
The Company's  capital for  investment in producing oil and gas  properties  has
been provided by cash flow from operating  activities,  bank financing,  and the
recently  completed  equity  offering.  The Company  categorises  its  operating
expenses into the categories of production expenses and other expenses.

Comparison  of three months ended  September  30, 2000 to the three months ended
--------------------------------------------------------------------------------
September 30, 1999
------------------

Results of Operations

Revenues  increased 48% or $134,725 to $416,161 for the three month period ended
September 30, 2000 from the  comparable  1999 period,  this was due primarily to
the  overall  increase  in the  average  price  received  for oil and gas sales.
Production  volumes  increased  13% on a BOE  basis.  Average  oil sales  prices
increased  45% to $29.35 for the period  ended  September  30, 2000  compared to
$20.15 for the  period  ended  September  30,  1999.  Average  gas sales  prices
increased 45% to $3.06 for the period ended September 30, 2000 compared to $2.10
for the period ended September 30, 1999.

Production  expenses  increased  59% or $56,028 to $152,131  for the three month
period  ended  September  30, 2000 from the  comparable  1999  period,  this was
primarily  due to  additional  workovers in the form of remedial  repairs and an
increase in the number of producing  oil and gas  properties  the company  owns.
Depletion and  depreciation  increased 8% or $3000 to $39,000 this was primarily
due to the  development  of  additional  oil and  gas  properties  resulting  in
increased production and related equipment during the period ended September 30,
2000  compared to the 1999  period.  General and  administrative  overhead  cost
decreased  33% or $26,228 to $55,018 for the three month period ended  September
30,  2000  from the  comparable  1999  period.  This was  attributable  to lower
salaries,legal,   and   engineering   fees   related  to  research  of  possible
acquisitions.

Net other  expense for the three  months  ended  September  30, 2000 was $13,648
compared to $27,888 for the 1999 period.  This  decrease was primarily due to an
increase in miscellaneous income which offset interest expense.

Comparison  of nine months  ended  September  30, 2000 to the nine months  ended
--------------------------------------------------------------------------------
September 30, 1999
------------------

Results of Operations

Revenues increased 94% or $557,360 to $1,150,168 for the nine month period ended
September 30, 2000 from the comparable 1999 period,  this was due to the overall
increase in the average price received for oil and gas sales. Production volumes
increased 23% on a BOE basis.  Average oil sales prices  increased 74% to $27.51
for the period ended  September 30, 2000 compared to $15.96 for the period ended
September 30, 1999. Average gas sales prices increased 54% to $2.58 for the nine
month period  ended  September  30, 2000  compared to $1.67 for the period ended
September 30, 1999.

Production expenses increased 106% for the nine month period ended September 30,
2000 from the  comparable  1999 period,  this was  primarily  due to  additional
workovers  in the form of remedial  repairs and an increase in the number of oil
and  gas  properties  the  company  owns.  Depletion  and  depreciation  expense
increased 8% to $117,000,  this was due to the development of additional oil and
gas properties  resulting in increased  production and related  equipment during
the period ended  September  30, 2000  compared to the 1999 period.  General and
administrative  overhead cost  decreased 17% or $41,261 to $204,297 for the nine
month period ended September 30, 2000 from the nine month period ended September
30, 1999. This was  attributable to lower  salaries,legal  and engineering  fees
related to research of possible acquisitions.

<PAGE>

Net other  expense  for the nine  months  ended  September  30, 2000 was $54,659
compared to $33,662 for the comparable  1999 period.  The increase was primarily
due to a decrease in miscellaneous income which offset interest expense.

Liquidity and Capital Resources

Cash flow  provided by  operating  activities  was  $452,708  for the nine month
period ended  September  30,  2000,  as compared to $34,457 in cash flow used by
operating  activities  in the 1999 period.  The increase in cash from  operating
activities was primarily due to increased net income in 2000.

Cash flow  used by  investing  activities  was  $293,739  for the  period  ended
September 30, 2000,  compared to $1,178,683  for the period ended  September 30,
1999.  This is primarily due to decreased  purchases of oil and gas  properties.
Cash flow  provided by  financing  activities  was $150,053 for the period ended
September 30, 2000, as compared to $1,403,069  provided by financing  activities
for the same period in 1999.  This was due to  repayment  of existing  long-term
debt and the completion of common stock offering during 1999.

The Company cannot predict how oil and gas prices will vary during 2000 and what
effect they will ultimately have on the Company.  However,  management  believes
that the Company will be able to generate  sufficient  cash from  operations  to
service its bank debt and provide for maintaining  current production of its oil
and gas properties.




<PAGE>

PART II
OTHER INFORMATION

Item 1.  Legal Proceedings
--------------------------

The Company is a party to a lawsuit  arising in the ordinary course of business.
In the opinion of management, final judgement or settlement, if any, that may be
awarded or entered into in  connection  with this suit would not have a material
adverse effect on the Company's financial position or results of operations.

Item 2.  Changes in Securities
------------------------------

SALE OF RESTRICTED SECURITIES.  During the three month ended September 30, 2000,
the Company sold  389,000  shares of Common Stock after the exercise of warrants
at $1.25 per share. The Company paid cash commissions to W.B. McKee  Securities,
Inc. in the amount of $24,313.25.
With  respect  to these  sales,  the  Company  relied  on  Section  4 (2) of the
Securities Act.

Item 3.  Default Upon Senior Securities
---------------------------------------

None.

Item 4.  Submission of Matters to a Vote of Security Holders
------------------------------------------------------------

None.

Item 5.  Other Information
--------------------------

None.

Item 6.  Exhibits and Reports on Form 8-K
-----------------------------------------

The  following  Reports  were filed by the  Company on Form 8-K during the third
Quarter of 2000:

a.       None on Form 8-K
b.       10.1  Consulting   Agreement  dated  May  9,  2000  between  FieldPoint
         Petroleum Corp. and Parrish Brian & Co.
c.       Exhibit 27  Financial Data Schedule



                                   SIGNATURES

In accordance with the  requirements of the Exchange Act, the registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.

Date:   November 14, 2000         By:   /s/ Ray Reaves
                                    --------------------------------------------
                                  Ray Reaves, Treasurer, Chief Financial Officer