Pioneer Oil and Gas Reports Earnings Results for the Second Quarter and Six Months Ended March 31, 2014
For the six months, 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 net loss of $446,920 for the same period a year ago. Net loss per share was $0.19 as compared to net loss of $0.08 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.