Saba Petroleum Co.: The Irvine company reported...

Saba Petroleum Co.: The Irvine company reported a first-quarter net loss of $356,872, or 10 cents a share, contrasted with a profit of $129,755, or 4 cents a share, for the similar period in 1993. The company attributed the loss to the falling price of crude oil since June, 1993. Revenue declined to $2.3 million from $2.6 million.