Powder River Basin Gas Corp. Announces Fiscal 2004 Year End Results 3/31/2005 10:47:01 AM
CALGARY, Alberta, Mar 31, 2005 (BUSINESS WIRE) -- Powder River Basin Gas Corp. (PRVB) - Company Achieves Net Profit of Over $1 Million
Powder River Basin Gas Corp., (PRVB), a revenue generating producer and acquirer of crude oil and natural gas, today announced it has completed its first full year of operations under the current management.
A significant turn around has taken place in the company's strategic direction under new management which resulted in the first profitable year in the company's history.
Powder River Basin Gas Corp. completed the first quarter ending March 31, 2004 with revenue of $39,063 which were the first earnings for the company.
The company went on to close the year ended December 31, 2004 with revenues of $2,184,880 and a net profit of $1,007,575.
Powder River Basin Gas Corp. also entered into several options to purchase Oil and Gas development and re-work properties which if completed will be reflected in operations for 2005.
Brian Fox, President and CEO stated "It was management's vision for the company when taking over in December 2003, to turn Powder River Basin Gas Corp. into a highly visible and profitable organization. The first step towards this goal has been achieved during 2004 operations. It is our contention that the Company is positioned to realize a similar increased growth pattern in 2005."
Powder River Basin Gas Corp. is active in production and acquisition of crude oil and natural gas.
Powder River Basin Gas Corp. trades on the OTCBB under the symbol PRVB.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
Powder River Basin Gas Corp. (PRVB)
SOURCE: Powder River Basin Gas Corp.
Powder River Basin Gas Corp.
Patrice Nazareno
Investor Relations
Toll Free 1-866-515-7708
www.powderrivergascorp.com
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