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UK Oil & Gas losses widen on write-down

By BFN News | 08:29 AM | Friday 29 June, 2018


UK Oil & Gas Investments reported a deeper first-half loss after costs rose and it wrote-down the value of an asset. Pre-tax losses for the six months through March amounted to £4.4m, compared to losses of £1.1m on-year. The write-down was mostly related to intangible assets in Kimmeridge Oil & Gas, specifically costs associated with drilling an unsuccessful well, the company said. Investment in both exploration and evaluation assets and oil and gas properties increased to £5.0m. At 8:29am: (LON:UKOG) UK Oil Gas Investments Plc share price was +0.13p at 1.8p Story provided by StockMarketWire.com

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