Western Energy Reports Another Quarterly Loss

Blaming the ongoing slump in the oil industry, Western Energy Resources Inc. reported a net loss of $81,043 for the second quarter, compared with a year-earlier loss of $79,150. The Mission Viejo-based independent oil and gas company’s revenue was $48,492, 56% lower than the $110,094 posted a year ago.

For the first half of the year, Western posted a net loss of $122,795, compared with a net loss of $90,685 for the comparable 1985 period. Revenue was $140,001, down 35% from $215,842.