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

Saba Petroleum Co.: The Irvine independent oil and gas production company posted net income of $119,576, or 3 cents a share, for the third quarter, 5% higher than the $113,916, or 3 cents a share, for the same period of 1994. Revenue rose 23% to $4.3 million from $3.5 million. Net income for the nine-month period declined 3% to $229,881 from $237,969. Revenue gained 24% to $11.4 million from $9.2 million.