Western Energy Resources in Mission Viejo reported...

Western Energy Resources in Mission Viejo reported a net loss of $531,730 for 1987, compared to a loss of $688,927 for 1986. Revenues were up 8% for 1987, to $268,794 from $248,384. For the fourth quarter of 1987, the company reported that its net loss widened to $425,669, compared to a loss of $67,248 for the year-earlier quarter. Revenues for the quarter increased 58% to $78,663 from $49,827. Western Energy, an independent oil and gas firm, said that oil and gas production increased for the year, but lower prices contributed to the loss.