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Pioneer Oil and Gas Q2 revenues $327,546

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Staff writer ▼ | June 18, 2014
Pioneer Oil and Gas announced financial results for the second quarter of fiscal 2014. Revenues were $327,546 as compared to revenues of $174,630 for the second quarter of fiscal 2013.
Pioneer Oil and Gas
Pioneer Oil and GasPioneer Oil and Gas announced financial results for the second quarter of fiscal 2014. Revenues were $327,546 as compared to revenues of $174,630 for the second quarter of fiscal 2013.


The company posted a net loss of $264,169 for the quarter as compared to a net loss of $261,704 for the second quarter of fiscal 2013. For the six-month period revenues were $785,177 as compared to $367,274 for the same period a year ago. Net loss was $1,067,913 as compared to a net loss of $446,920 for the same period a year ago.

Net loss per share for the six-month period was $.19 as compared to a net loss of $.08 per share for the same period in fiscal 2013. The net loss was almost entirely due to write-offs of $947,871 on abandonment and impairment of resale leases and loss on disposal of oil and gas properties of $236,373.


 

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