Tradestar Resources Achieves Profitability; Releases Financial Reports, Fiscal 2008-09, First Quarter
August 04 2008 - 9:17AM
Marketwired
HOT SPRINGS, AR today announces financial results for its first
quarter which ended June 30, 2008.
Revenue for the quarter was $141,000 compared to $92,400, a 47%
increase over the same period one year ago. Gross profit from oil
and gas operations was $63,000. Net income for the quarter was
$57,000 compared to the prior year's same period loss $71,000.
"We are pleased with our results this quarter. The increase in
revenue is due to our increased efficiency and amount of production
as well as the prices received for the increased production. We
also achieved a $26,000 reduction in lease operating expenses,"
said Tom Feimster, President & CEO. "We are looking ahead to
expansions in current projects and several new projects scheduled
to come online this fiscal year, we are excited about the possible
significant increases in both revenue and income during this next
year."
Tradestar Resources Corporation, an independent energy company
engaged in the exploration, development, exploitation and
acquisition of domestic on-shore oil and natural gas properties,
financial statements can be found at www.Tradestar-Corp.com and
www.PinkSheets.com.
About Tradestar: Tradestar Resources Corporation strives to
enhance asset value by expanding oil and natural gas reserves
raising production levels and increasing cash flow. Tradestar
intends to foster its growth as an independent oil and gas company
by investing in only proven producing wells.
DISCLOSURES: "Safe Harbor" statement under the Private
Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements that are subject to risk and uncertainties, including,
but not limited to, the impact of competitive products, product
demand, market acceptance risks, fluctuations in operating results,
political risk and other risks detailed from time to time in
Tradestar Resources Corporation's filings with the Securities and
Exchange Commission. These risks could cause Tradestar Resources
Corporation's actual results to differ materially from those
expressed in any forward-looking statements made by, or on behalf
of, Tradestar Resources Corporation.
Additional company information is available at
www.tradestar-corp.com.
Contact: Tradestar Resources Corporation For further
information, please visit our website (www.tradestar-corp.com) or
send questions and comments to Email Contact
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