Rancher Energy has reported revenue of $1.7 million in the third quarter of fiscal 2008, compared to $105,400 in the same quarter of fiscal 2007.
Rancher Energy sold 22,020 barrels of oil – its net interest – at an average price of $77.40 per barrel in the third quarter of fiscal 2008. Net loss for the third quarter was $3.3 million, or $0.03 per basic and diluted share, versus a net loss of $1.4 million, or $0.03 per basic and diluted share, in the same quarter last year.
Revenue through the first nine months ended December 31, 2007 increased to nearly $4.7 million, compared to $105,400 in the same period of fiscal 2007. For the year-to-date period the company has sold 68,076 barrels of oil at an average price of $68.83. Net loss for the nine-month period was $9.7 million, or $0.09 per basic and diluted share, as compared with $2.7 million, or $0.07 per basic and diluted share, in the same period last year.