Pioneer Announces Third Quarter Results For Fiscal 2014

SOUTH JORDAN, Utah, Aug. 26, 2014 /PRNewswire/ -- Pioneer Oil and Gas (Pink Sheets: POGS) announced financial results for the third quarter of fiscal 2014.  Revenues for the third quarter of fiscal 2014 (period ending June 30, 2014) were $190,940 as compared to revenues of $277,326 for the third quarter of fiscal 2013.  Net loss was $54,190 or $.01 per share as compared to a net loss of $45,160 or $.01 per share for the third quarter of fiscal 2013.  For the nine-month period revenues were $976,117 as compared to $644,600 for the same period a year ago.  Net loss was $1,122,103 as compared to a net loss of $492,080 for same the nine-month period a year ago.  Loss per share for the nine-month period was $.20 per share as compared to $.08 for fiscal 2013.  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