Texoil,Inc.
Quarterly Income Statement
For 1998
	(In thousands, except per share data)
	1st Qtr 98	2nd Qtr 98	3rd Qtr 98	4th Qtr 98	1998
REVENUES
Oil & Gas Sales	$    1,866	$     2,366	1,932	$    3,026	$   9,190
Operator & Management Fees	255	227	243	165	890
Interest and Other	57	15	13	191	276
Total Revenues	$    2,178	$     2,608	$         2,188	$    3,382	$ 10,356
COSTS & EXPENSES
Operating Expenses	770	1,372	1,241	1,735	5,118
Workover	81	29	10	9	129
Production Taxes	103	123	111	198	535
General & Administrative	437	389	286	322	1,434
DD & A	434	500	555	1,350	2,839
Write-Down / Impairment	-	1,208	-	-	1,208
Interest	109	170	242	461	982
Other	-	-	-	-	-
Total Expense	$    1,934	$     3,791	$         2,445	$    4,075	$ 12,245
Operating Income (Loss)	$        244	$    (1,183)	$           (257)	$      (693)	$  (1,889)
Income Taxes	(92)	307	0	788	1,003
Net Income (Loss)	$        152	$       (876)	$           (257)	$          95	$     (886)
Preferred Stock Dividend	-	-	-	-	-
Net Income (loss) avaliable to Common	$        152	$       (876)	$           (257)	$          95	$     (886)
EPS	$       0.02	$      (0.14)	$          (0.04)	$       0.01	$    (0.14)
Outstanding Shares	$    6,098	$     6,388	$         6,548	$    6,549	$   6,402
Diluted weighted average shares	$    7,062	$     6,388	$         6,548	$    7,006	$   7,006
Diluted net income per share	$       0.02	$      (0.14)	$          (0.04)	$       0.01	$    (0.13)
EBITDA	$        787	$         695	$            540	$    1,118	$   3,140
Production Information
Gas Production (MMcf)	238	283	246	701	1,468
Oil Production (MBbls)	101	131	125	161	518
Average price gas (per Mcf)	$       1.99	$        2.33	$           1.93	$       1.69	$      1.90
Average price oil (per Bbl)	$    13.93	$     12.24	$         11.66	$    11.79	$   12.29