Petrominerals Reports Quarter Loss of $307,000

Petrominerals Corp., a Stanton-based oil and gas production company, posted a $307,000 second-quarter loss, compared with net income of $372,000 for the same period in 1985. The company’s second-quarter revenues were $2.3 million, down more than half from $4.9 million a year ago.

For the first six months of 1986, Petrominerals lost $4.98 million. By contrast, it had posted net income of $713,000 for the first half of 1985. Six-month revenues were $6.2 million, down 40% from $10.4 million for the year-ago period.