SOUTH JORDAN, UT / ACCESSWIRE / February 9, 2017 / Pioneer Oil and Gas (OTC PINK: POGS - News) announced financial results for
fiscal 2016. Revenues for fiscal year 2016 (period ending September 30, 2016) were $414,698, as compared to revenues of $460,913
for fiscal 2015. The Company had net income of $326,915 or $.06 per share, as compared to a net loss of $704,116 or ($.12) per
share for fiscal 2015. The positive net income for fiscal 2016 was attributable to a one-time settlement payment from the IRS of
$610,000 involving an outstanding lawsuit.
Pioneer's detailed financial statements can be viewed at http://www.piol.com/fi.html.
Statements concerning future financial results, production, expenditures, reserve estimates, and other items are forward-looking
statements. These statements are based on assumptions concerning commodity prices, drilling results, and other factors management
believes are reasonable based on currently available information; however, management's assumptions and the Company's future
performance are both subject to a wide range of business risks, and there is no assurance that these goals and projections can or
will be met.
SOURCE: Pioneer Oil and Gas
