Pioneer Off to a Strong Start for 1Q 2010

Pioneer Oil and Gas announced financial results for the first quarter of fiscal 2010. Revenues for the period ending December 31, 2009 (first quarter of fiscal 2010) were $243,738 as compared to revenues of $170,372 for the first quarter of fiscal 2009 (period ending December 31, 2008). The increase in revenues was primarily due to higher oil and gas prices. The Company reported a net loss of $42,351 or $.01 per share for the quarter as compared to net loss of $194,341 or $.03 per share for the first quarter of fiscal 2009.

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