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Fortune Petroleum Loses $27,000 in 1st Quarter

Fortune Petroleum Corp., a small energy concern in Agoura Hills, said it lost $27,000 in the first quarter compared with a $47,000 loss a year earlier.

Fortune said the latest loss came despite a 12% increase in revenue, which rose to $252,000 in the quarter that ended March 31 from $221,000 a year earlier. The revenue increase reflected higher prices received for the company’s oil.


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