Pioneer Announces Third Quarter Results For Fiscal 2013

SOUTH JORDAN, Utah, Sept. 9, 2013 /PRNewswire/ -- Pioneer Oil and Gas (Pink Sheets: POGS – News) announced financial results for the third quarter of fiscal 2013.  Revenues for the third quarter of fiscal 2013 (period ending June 30, 2013) were $277,326 as compared to revenues of $204,709 for the third quarter of fiscal 2012.   Net loss was $45,160 or $.01 per share as compared to a net loss of $174,281 or $.02 per share for the third quarter of fiscal 2012.   For the nine-month period revenues were $644,600 as compared to $781,733 for the same period a year ago.   Net loss was $492,080 as compared to a net loss of $416,514 for the same nine-month period a year ago.  Loss per share for the nine-month period was $.08 per share as compared to $.05 for 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