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O.C. BUSINESS PLUS | ORANGE COUNTY EARNINGS

Beta Oil & Gas Inc.

May 16, 2000

The Newport Beach energy company reported a first-quarter net loss of $125,426, or 1 cent a share, which included noncash charges of $561,072 in depletion and depreciation. That compares with a net loss of $714,104, or 10 cents a share, which included noncash depletion and depreciation charges of $12,415 and $429,505 in noncash interest expenses. Revenue rose to $940,250 from $29,664.

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