SOUTH JORDAN, Utah,
May 23, 2012 /PRNewswire/ -- Pioneer
Oil and Gas (Pink Sheets: POGS) announced financial results for the
second quarter of fiscal 2012. Revenues for the second quarter
of fiscal 2012 (period ending March 31,
2012) were $242,118 as
compared to revenues of $254,783 for
the second quarter of fiscal 2011. The Company posted a net
loss of $82,247 for the quarter as
compared to a net loss of $94,495 for
the second quarter of fiscal 2011. For the six-month period
revenues were $577,024 as compared to
$512,035 for the same period a year
ago. Net loss was $242,233 as
compared to a net loss of $242,429
for the same period a year ago. Net loss per share for the
six-month period was $.03 as compared
to a net loss of $.03 per share for
the same period in fiscal 2011.
Pioneer's detailed financial statements can be viewed at
http://www.piol.com/fi.html.
Statements concerning future financial results, production,
expenditures, reserve estimates, and other items are
forward-looking statements. These statements are based on
assumptions concerning commodity prices, drilling results and other
factors management believes are reasonable based on currently
available information; however, management's assumptions and the
Company's future performance are both subject to a wide range of
business risks, and there is no assurance that these goals and
projections can or will be met.
SOURCE Pioneer Oil and Gas
