Pioneer Announces Second Quarter Results For 2013

SOUTH JORDAN, Utah, June 4, 2013 /PRNewswire/ -- Pioneer Oil and Gas (Pink Sheets: POGS) announced financial results for the second quarter of fiscal 2013.  Revenues for the second quarter of fiscal 2013 (period ending March 31, 2013) were $174,630 as compared to revenues of $242,118 for the second quarter of fiscal 2012.   The Company posted a net loss of $261,704 for the quarter as compared to a net loss of $82,247 for the second quarter of fiscal 2012.  For the six-month period revenues were $367,274 as compared to $577,024 for the same period a year ago.   Net loss was $446,920 as compared to a net loss of $242,233 for the same period a year ago.  Net loss per share for the six-month period was $.08 as compared to a net loss of $.03 per share for the same period in fiscal 2012.  

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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