Union Jack Oil posts loss on West Newton development costs

  • May 17, 2021
  • Stock Market Wire

StockMarketWire.com - Oil company Union Jack Oil reported a full-year loss, as it and partners continued to develop the West Newton prospect in England.

Pre-tax losses for the year through December amounted to £1.87 million, compared to year-on-year losses of £1.69 million.

Revenue edged up to £0.16 million, from £0.14 million.

Union Jack had a cash balance in excess of £5.7 million at 1 May, not including loan receivables and royalty accruals of over £1 million due during 2021 and 2022.

At 8:03am: [LON:UJO] Union Jack Oil Plc share price was 0p at 0.15p

Story provided by StockMarketWire.com