Beta Oil Loses $1.7 Million in 4th Quarter

Beta Oil & Gas Inc., a Newport Beach energy company, reported a fourth-quarter net loss of $1.7 million, or 19 cents a share, which included noncash charges of $2.1 million. That compares with a net loss of $171,185 for the like period last year. Quarterly revenue totaled $823,885. For the year the company lost $5.4 million, or 66 cents a share, which included noncash charges of $5.1 million. The net loss for the prior year was $641,926, or 10 cents a share. Annual revenue was $1.2 million. No annual or quarterly revenue figures were reported for 1998.