Petrominerals Corp.: The Tustin-based oil and gas...

Petrominerals Corp.: The Tustin-based oil and gas company reported a first-quarter profit of $46,000, contrasted with a loss of $242,000 for the corresponding period of 1989. Revenue rose 20% to $1.8 million from $1.5 million. The company attributed the profit to reduced administrative and other corporate expenses.