I was reading The Edge ... and saw this table of the O&G companies listed in KLSE. It has been long time I do not see analyst(s) using Z-score.
Note : A score below 1.8 means the company is probably headed for bankruptcy, while companies with scores above 3 are not likely to go bankrupt.
So .. for investors, generally we would consider those companies with Z-score above 3. NONE of those O&G in the list pass this score. So ... INVESTORS should avoid O&G counters. For traders, ok la ...buy-sell.
Here is a simple clip ... see? We could learn anything from youtube or investopedia.