12:02 PM EST - Pacific Energy Resources Ltd. : reported that its fourth-quarter net loss was $185.30 million U.S. or $0.91 U.S. per share, compared to net loss of $59.70 million or $0.43 U.S. per share for the fourth quarter of 2007. The latest quarter result included impairment charges of $131.4 million U.S., of which includes $126.1 million U.S. relates to certain Alaska petroleum and natural gas properties' net book value exceeding fair values. Oil and gas revenue for the fourth quarter, before the effects of hedging, was $36.5 million U.S., down 19.4 per cent from $45.3 million U.S. in the fourth quarter of 2007. Total revenue for the fourth quarter, after the effects of hedging, was $38.73 million U.S., up from $35.46 million U.S.in the fourth quarter of 2007. Pacific Energy Resources Ltd.
shares T.PFE are trading even at $0.01.
