Saba Petroleum Co.: The Irvine oil and...

Saba Petroleum Co.: The Irvine oil and gas production company reported second-quarter profit of $452,005, or 12 cents a share, more than double the $219,666, or 6 cents a share, recorded for the like period a year ago. Revenue declined 3%, to $2.8 million from $2.9 million. Profit for the first six months dropped to $95,133, or 3 cents a share, from $349,421, or 10 cents a share, for the same period in 1993. Revenue was down 6%, to $5.1 million from $5.4 million.