N. Y. Investor Buys 15% of Fortune Petroleum
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A New York investor acquired 184,470 shares, or 15%, of Fortune Petroleum Corp., a small Agoura Hills-based oil and gas concern.
The purchase was made by Jack Farber, according to a filing with the U. S. Securities and Exchange Commission. However, the filing did not disclose how much Farber paid for the shares and whether he bought them for investment purposes only or has an eye toward redirecting Fortune’s corporate strategy.
Fortune has struggled recently, losing $48,000 on revenue of $957,000 in 1989.
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