August 16, 1987
Western Energy Resources Inc., a Mission Viejo-based oil and gas development company, reported a second-quarter net loss of $43,571, contrasted with a loss of $81,043 for the same period a year earlier. Revenues for the period fell to $40,000 from $48,492 for the same period last year. A surplus of domestic gas led to the reduced sales, according to Richard Johnson, president of the company.
August 13, 1996 |
Western Resources Increases Stake in ADT: The move by the Topeka, Kan.-based energy company may foreshadow an attempt to block Republic Industries Inc.'s planned acquisition of ADT Ltd., North America's largest electronic security company. Western Resources Inc. spent $24.5 million to increase its stake to 24% from 23.1%, according to a filing with the Securities and Exchange Commission. It also said it "may determine to oppose" Republic's bid for ADT but hasn't made a final decision.
July 17, 1990
Fortune Petroleum Corp. in Agoura Hills announced that it has canceled plans to acquire most of the assets of Western Energy Resources Inc. The plans hinged on Fortune raising $500,000 through an offering of stock, and warrants to buy additional stock. However, the offering, which expired June 15, raised only $284,797. Fortune is an oil and gas exploration company.
May 8, 1986
Western Energy Resources Inc., an independent oil and gas company based in Newport Beach, said it lost $41,752 for the first quarter, compared with a year-earlier loss of $11,535. Revenue for the period was $95,125, down 8% from $105,753. Richard Johnson, president of the company, said its financial results were "unfavorably impacted" by the severe decline in world market prices for gas and oil.
May 12, 1987
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.