On August 23, 2018, Natale Rea announced that on August 16, 2018, it has sent a second letter to FieldPoint Petroleum Corporation's Board of Directors. In the letter, Natale Rea stated that it has been actively engaged with the Company's management to discuss strategic alternatives to improve the Company's financial and operational position. Natale Rea proposed that the Company would structure a capital raise as an underwritten rights issue, with the proceeds being used for debt repayment. Natale Rea also stated that all of the Company's shareholders would have the option to acquire new shares through a rights issue, while a reduction in outstanding debt would give the Company more flexibility under the credit facility to pursue transactions that create value for shareholders. Natale Rea added that it has asked its representatives to contact the Board members to arrange a time and place to meet to discuss a proposal for an underwritten rights issue.