Saba Petroleum Co.: The Irvine independent oil...

Saba Petroleum Co.: The Irvine independent oil and gas production company reported profit of $509,314, or 13 cents a share, last year, which included results from the company’s Canadian subsidiary and accounted for as if it had been acquired effective Jan. 1, 1994. The company recorded a net loss of $88,123, or 2 cents a share, for 1993. Revenue increased 24% to $13 million from $10.5 million.