By Peter Brailey | Thursday 2 April 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
UK Oil & Gas (UKOG) issued its 2019 year end accounts at no-one is watching O'Clock on Tuesday, which updated us on its cash guzzling to the end of September. Plenty of waffle in true UK Oil & Gas style, and the numbers are of course 6 months out of date. But a little digging into the detail and applying common sense leads me to a simple conclusion – this company will need significant amounts of cash to keep going. So it’s more confetti and a little bit of loss making oil.
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