Show Altex reports 74 gains Altex Oil Corporation with operating headquarters in Denver and executive offices in inVernal inVernal inVernal Vernal announced sharply l higher gher revenues and earnings for the fiscal year ended September 30 1974 and fiscal first quarter ended December 31 Net earnings for fiscal 1974 totaled on revenues of the company reported compared with a net loss lass of on revenues of in fiscal 1973 Net earnings for the first quarter of fiscal 1975 climbed to on revenues of according according according ac ac- ac- ac cording to the company on the strength of l higher gher production revenues from the Greater Altamont Bluebell Altamont-Bluebell Bluebell Area in northeast Utah 01 OIL L AND gas revenue increased increased in in- creased to in the first quarter compared with a total of during the previous fiscal year said Jerome C C. C Martinets Jr vice president The company is now receiving royalty and working interest income iome from 89 producing wells in the Greater Altamont- Altamont Bluebell Area he noted and other field development wells in wl which ch the company owns interests are currently drilling in the field The acquisition of a 56 percent percent percent per per- cent interest in Denver based Sentry Engineering Company f In n October 1973 contributed substantially to the jump in fiscal 1974 revenues according to Martinets Sentry is an oil and gas well mud logging petroleum engineering and geological consulting company with operations throughout the Rocky Mountains Altex also owns a 26 percent interest in Custom Refining Company of Denver which is developing a process for re re- refining waste oils Altex Oil Corporation has common shares issued and outstanding and has over shareholders in the state of Colorado |