Western Energy Resources Reports a Quarterly Loss

Western Energy Resources Inc., a Mission Viejo-based oil and gas development company, reported a second-quarter net loss of $43,571, contrasted with a loss of $81,043 for the same period a year earlier. Revenues for the period fell to $40,000 from $48,492 for the same period last year.

A surplus of domestic gas led to the reduced sales, according to Richard Johnson, president of the company. Jeff Haugan, vice president, said the company will be profitable in the third quarter and for the year with the acquisition in July of Petro Energy Management Corp.

Haugan said Petro Energy will account for 45% of the company’s third quarter sales.