Fortune Petroleum Posts $2,000 Quarterly Profit
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Fortune Petroleum Corp. of Agoura Hills reported a small profit on a 27% increase in revenue for the first quarter.
For the three months ended March 31, Fortune posted a profit of $2,000, compared with a loss of $48,000 a year earlier. Its revenue, boosted by acquisitions, rose to $399,000 from $313,000 a year ago. Fortune attributed the return to profitability to lower production expenses and repair costs.
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