Western Energy Reports $31,134 Loss In Quarter

Western Energy Resources Inc., a Mission Viejo-based oil and gas development company, reported a first quarter 1987 net loss of $31,134, compared with a loss of $41,752 for the same period a year earlier. Revenues for the period plunged 50% to $47,564 from $95,125 for the same period a year earlier.

Company officials said oil and gas production in the 1987 quarter was only slightly lower than in the earlier period. They attributed the reduction in revenues to lower average prices for crude oil and natural gas in 1987.