SOUTH JORDAN, Utah,
March 12, 2014 /PRNewswire/ --
Pioneer Oil and Gas (Pink Sheets: POGS – News) announced financial
results for the first quarter of fiscal 2014. Revenues for
the period ending December 31, 2013
(first quarter of fiscal 2014) were $457,631 as compared to $192,644 for the first fiscal quarter of 2013
(period ending December 31, 2012).
The Company reported a net loss of $803,744 or $.14
per share for the quarter as compared to net loss of $185,216 or $.03
per share for the first quarter of fiscal 2013. The loss was
due to a write off of abandoned leases of $947,871.
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
