Pioneer Oil and Gas annual net loss increases

Pioneer Oil and Gas has reported a net loss of $1.10 million, or $0.15 loss per share, for the year ended September 30, 2012, compared to a net loss of $388,901, $0.05 loss per share, for the year ended September 30, 2011.

Revenue for the year ended September 30, 2012 was $968,038, compared to $1.25 million for the year ended September 30, 2011.

Oil and gas sales for the year ended September 30, 2012 were $692,988, compared to $794,225, for the year ended September 30, 2011.

Assets as of September 30, 2012 were $5.53 million, compared to $8.60 million, as of September 30, 2011.