Exhibit A

NATIONAL FUEL RESOURCES, INC.
INCOME STATEMENT

	Three Months Ended December 31, 2003		Twelve Months Ended December 31, 2003
	Actual		Actual
Operating Revenues	$	56,952,753	$	318,936,197
Operating Expenses:
Purchased Gas		54,846,666		308,823,286
Purchased Electric		--		(3,328	)
Operation		753,321		2,826,157
Depreciation, Depletion
& Amortization		28,648		120,966
Franchise & Other Taxes		105,461		59,145
		55,734,096		311,826,226
Operating Income		1,218,657		7,109,971
Interest Income		160,074		885,740
Interest Expense		6,096		31,256
Net Income Before Taxes		1,372,635		7,964,455
Income Taxes:
Federal		449,001		3,064,896
State		109,833		82,875
Deferred		8,220		(271,144	)
		567,054		2,876,627
Net Income	$	805,581	$	5,087,828