Pioneer Announces Third Quarter Results For 2015

SOUTH JORDAN, UT / ACCESSWIRE / September 24, 2015 / Pioneer Oil and Gas (Pink Sheets: POGS) announced financial results for the third quarter of fiscal 2015. Revenues for the third quarter of fiscal 2015 (period ending June 30, 2015) were $77,094 as compared to revenues of $190,040 for the third quarter of fiscal 2014. The Company posted a net loss of $304,516 for the quarter as compared to a net loss of $54,190 for the third quarter of fiscal 2014. For the nine-month period revenues were $376,941 as compared to $976,117 for the same period a year ago. Net loss was $582,373 as compared to a net loss of $1,122,103 for the same period a year ago. Net loss per share for the nine-month period was $.10 as compared to a net loss of $.20 per share for the same period in fiscal 2014.

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

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