Randolph N Osherow, chapter 7 trustee, filed a motion in the US Bankruptcy Court for the sale of substantially all its assets of FieldPoint Petroleum Corporation on July 14, 2020. The debtor seeks the Court's approval for the sale of substantially all its assets to U.S. Energy Corporation for a purchase price of $0.5 million in cash. To qualify as a qualified bidder, interested parties should submit their sealed bids by August 3, 2020, along with a non-refundable deposit in the amount of $0.05 million.

The initial minimum overbid should be in the amount of at least $0.55 million. The trustee shall receive a commission of $0.03 million plus $4000 in expenses.