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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.

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