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ORANGE COUNTY EARNINGS

August 15, 1993

Petrominerals Corp.: The Tustin oil and natural-gas company posted a second-quarter loss of $255,000, or 3 cents a share, compared to a loss of $138,000, or 2 cents a share, for the same period a year earlier. Revenue was down 21% to $1.1 million from $1.4 million. The company said the decline in revenue was because of a significant reduction in the production service division's activities in the San Joaquin Valley. For the first half of 1993, the company reported a loss of $512,000, or 7 cents a share. That compared to a loss of $378,000, or 5 cents a share, for the same period last year. Six-month revenue fell 32% to $2.1 million from $3.1 million.

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