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Pioneer Oil and Gas Q2 revenues $327,546

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Staff writer ▼ | June 18, 2014
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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