Message #2 From:
NewsBot Date: November 17, 2007 01:02:47 PM
Pioneer Announces Third Fiscal Quarter Results for 2007
Note: This comapny, even though it is listed on the pinks, has done pretty well over the last two years. I would consider adding it to the Editors watch list.
SOUTHJORDAN, Utah, Aug. 27 /PRNewswire-FirstCall/ -- Pioneer Oil and Gas (Pink Sheets: POGS) announced financial results for the third quarter of fiscal 2007. Revenues for the third quarter of fiscal 2007 (period ending June 30, 2007) were $1,805,303 as compared to revenues of $453,759 for the third quarter of fiscal 2006. Net income was $906,033 or $.12 per share as compared to net income of $93,761 or $.01 per share for the third quarter of fiscal 2006. For the nine-month period revenues were $10,009,002 as compared to $1,530,305 for the same period a year ago. Net income increased from $623,538 to $5,417,810 for the nine-month period. Earnings per share for the nine-month period increased from $.08 to $.73. The increase in revenues and income was primarily the result of higher Project and Lease Sales Income.
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.
