Benton Oil Posts Loss of $123,071 for 4th Quarter
Benton Oil and Gas Co. of Ventura reported a net loss of $123,071 for the fourth quarter that ended Dec. 31 on revenues of $128,989. In the year-earlier quarter, Benton reported a net loss of $156,764 on revenues of $1,244.
For the year that ended in December, Benton lost $513,352 on revenues of $408,997. No comparable year-earlier figures are available because the company started operations in September, 1988.
Benton said that since its initial public stock offering was completed on March 29, 1989, it has been acquiring interests in oil and gas producing properties. It has also formed nine limited partnerships to perform acquisition, exploration and development activities.
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