SOUTH JORDAN, UT / ACCESSWIRE / February 12, 2018 / Pioneer Oil and Gas (OTC PINK: POGS) announced financial results for fiscal 2018. Revenues for fiscal year 2018 (period ending September 30, 2018) were $346,388 as compared to revenues of $374,994 for fiscal 2017. The Company had a net loss of $19,117 or less than a penny per share for fiscal 2018 as compared to a net loss of $109,230 or $.02 per share for fiscal 2017.
The litigation with the Northern Arapaho Tribe is ongoing with the Company filing a Motion to Dismiss the action in Tribal Court. The BLM enforcement action on the same matter has been placed in abeyance while awaiting the outcome of the Tribal action. Additional information regarding the lawsuit can be found under the Company's News Release dated October 31, 2018.
Pioneer's detailed financial statements can be viewed at https://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