Petrominerals Corp. reported a first-quarter loss of...

Petrominerals Corp. reported a first-quarter loss of $265,000, compared to a loss of $22,000 a year earlier. Revenues for the quarter were $1.6 million, a 24% drop from the $2.2 million posted for the first three months of 1987. The company attributed the decline in revenue to a $2-per-barrel drop in the price of crude oil. Petrominerals, based in Stanton, explores, produces and markets crude oil and natural gas in California, Louisiana and Oklahoma. It services and maintains oil and gas wells for a number of major oil companies through its Lunn Production Service subsidiary.