Fortune Petroleum Profit Increases to $38,000
Fortune Petroleum Corp., an Agoura Hills energy concern, reported a third-quarter profit of $38,000, in comparison with a year-earlier profit of $8,000.
Its revenue for the quarter nearly doubled, to $597,000 from $309,000.
Fortune’s nine-month profit was $90,000, contrasted with a loss of $134,000 in the comparable 1991 period. Its revenues increased to $1.58 million, up 70% from $933,000.
The company also said that it has completed the sale of $2.7 million of convertible subordinated debentures. Another $1.53 million of the bonds remain available for sale, it said.