SOUTH JORDAN, Utah,
Sept. 10, 2012 /PRNewswire/ --
Pioneer Oil and Gas (Pink Sheets: POGS – News) announced financial
results for the third quarter of fiscal 2012. Revenues for
the third quarter of fiscal 2012 (period ending June 30, 2012) were $204,709 as compared to revenues of $314,770 for the third quarter of fiscal
2011. Net loss was $174,281 or $.02
per share as compared to a net loss of $288,344 or $.04
per share for the third quarter of fiscal 2011. For the
nine-month period revenues were $781,733 as compared to $826,805 for the same period a year ago.
Net loss was $416,514 as compared to
a net loss of $530,773 for same
nine-month period a year ago. Loss per share for the
nine-month period was $.05 per share
as compared to $.07 for 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