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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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TXO | LSE:TXO | London | Ordinary Share | GB00B3SYR037 | ORD 0.1P |
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0.00 | 0.00% | 0.045 | - | 0.00 | 01:00:00 |
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21/7/2015 15:40 | Massive Alberta oil spill bigger than Kalamazoo disaster By Mychaylo Prystupa in News | July 17th 2015 Nexen oil spill near the company's Long Lake operation Oil sands giant Nexen has apologized for one of the largest petroleum spill disasters in Canadian history at its facility 35km southeast of Fort McMurray. “We sincerely apologize for the impact this has caused,” said Nexen vice president Ron Bailey in a press briefing in Calgary Friday morning. The company said its pipeline near its Nexen Long Lake operation — called the "crown jewel" of its oil sands operation —released five million litres of “emulsion̶ The volume released is equivalent to 31,000 barrels —a volume greater than the 27,000 barrels of oil spilled by Enbridge in Kalamazoo Michigan in 2010, in the worst land spill in U.S. history. “I’m here to be as transparent as I can be,” said Bailey. “It is an emulsion line, which means it carries oil —approximately 33 per cent oil —and water and the associated products that come with the formation of water,” the oil executive added. The oil-water mixture came from the pad site 10km south of Nexen's Long Lake facility. It was headed to an upgrade to make into crude. Nexen Bailey apologies for oil spill Nexen vice-president Ron Bailey speaking to reporters in Calgary about oil spill, Friday. Environmental groups wasted no time in blasting the spill. “It’s a strong reminder that with fossil fuels, no matter what cautions, no matter what the reassurances, the ecosystem is still at risk of contamination with pipelines,” said John Bennett with the Sierra Club of Canada in Ottawa. “It’s fortunate this is in a remote area, and it’s contained, but a similar spill along the Kinder Morgan route or the Northern Gateway route could be devastating.’ “We need to re-think transporting fossil fuels thousands of kilometres,” he added. Nearby Fort McMurray physician Dr. John O'Connor says his biggest question is whether there was dilbit in the petroleum spill. “They are calling it emulsion, but there’s some suggestion it could be diluted bitumen, which is way worse. Diluted bitumen contains a toxic brew of chemicals that are carcinogenic. “The unknown is creating anxiety." A Nexen spokesperson later said the emulsion did not contain dilbit. The company says it still does not know what caused its 20-inch pipeline to leak such an enormous volume. Just 100 metres from the spill site is a small lake. “We see no immediate impact,” said Bailey. “Our response team has been on site 24/7 since we identified this, looking to minimize the environmental damage, and to work on site clean-up.” “The leak has been stabilized, the pipeline has been shut down.” Nexen says the spill has spread over 16,000 square metres. But most of the oil, it says, is on the pipeline's right of way. There’s no human impact and no residences affected, said the company. The Gregoire Lake Indian Band, near the hamlet of Anzac 15km to the north of the spill, was notified. Alberta Premier Rachel Notley, who was in St. John’s, Newfoundland, on Friday for the annual premiers’ meeting, said she has been receiving updates on the spill. Notley said pipelines continue to be the safest way to carry oil and gas across the country. "So what it comes down to is we need to learn from the spill," she said. A spokesman for Alberta Energy Minister Margaret McCuaig−Boyd said she is in regular contact with the Alberta Energy Regulator and is monitoring the situation closely. "We take a pipeline spill like this one very seriously," her spokesperson Brad Hartle said in a statement. Nexen was purchased by Chinese state-oil giant CNOOC in 2013 and its president called the Canadian executive team encouraging them to be fully transparent with the details of the oil spill. Past Alberta oil spills March 2015: About 2.7 million litres of condensate used to dilute heavy oil was discovered near the muskeg's surface at Murphy Oil's heavy oil site, 80 kilometres northeast of Peace River. The company said the spill occurred over an extended time period. No harm to wildlife was reported. --- November 2014: Canadian Natural Resources said a mechanical failure led to a spill of 60,000 litres of crude oil near Red Earth Creek in northern Alberta. The company said most of the spill was contained on the company's land and a nearby pipeline right of way. No report of harm to wildlife. --- April 2014: A pipeline owned by Canadian Natural Resources spilled 70,000 litres of oil and processed water northwest of Slave Lake. The spill was described as not being near any people, water or wildlife. --- July 2013: Canadian Natural Resources identified four sites where a bitumen-water mix had been seeping from an old well at the company's oilsands project on the Cold Lake Air Weapons Range. At least 1.5 million litres of bitumen were recovered. At least 100 animals died. The Alberta government issued environmental protection orders and limited the amount of steam CNRL pumps into the reservoir. --- May 2013: An Apache Canada pipeline in the Zama City region of northern Alberta leaked 15 million toxic litres of process water heavily contaminated with salt. Another 1.8-million-litre leak of waste water was discovered the following October. --- June 2012: Some 461,000 litres of oil from a Plains Midstream pipeline leaked into a tributary of the Red Deer River from an underwater pipe cracked by high water flows. Gleniffer Lake, a man-made reservoir popular with water recreationists, was closed for nearly three weeks. A marina and campground were also closed, fishing on the river was shut down and drinking water was trucked in. The province's regulator concluded the line had not been adequately inspected. --- May 2012: A leak that went undetected for days from a Pace Oil and Gas waste disposal line released about 3.5 million litres of a water-oil emulsion into muskeg near Rainbow Lake close to the Northwest Territories boundary. It was discovered when an aircraft from another oil company made a routine flyover. --- April 2011: A poorly welded and highly stressed section of the Rainbow pipeline owned by Plains Midstream cracked and spewed about 4.5 million litres of oil into low-lying marshland near the northern Alberta aboriginal community of Little Buffalo. Only a beaver dam prevented the oil from spreading beyond the spill site. School in Little Buffalo was canceled for several days over odour concerns. Damage was described in court as significant. --- | lofuw | |
21/7/2015 15:37 | One dead duck found at Nexen Energy pipeline spill site in northern Alberta The Canadian Press | July 21, 2015 9:03 AM ET The site of a Nexen pipeline oil spill near their Long Lake project by Fort McMurray Alta. as seen from the air on Friday July 17, 2015. Nexen Energy has issued a news release saying it has found a dead duck at the spill site. Garrett Barry / Fort McMurray Today / Postmedia NetworkThe site of a Nexen pipeline oil spill near their Long Lake project by Fort McMurray Alta. as seen from the air on Friday July 17, 2015. Nexen Energy has issued a news release saying it has found a dead duck at the spill site. CALGARY — Nexen Energy has issued a news release saying it has found a dead duck at the site of a pipeline spill in northern Alberta Nexen says it believes the “deceased duck” died before the company put fences, wildlife cannons and other deterrents in place About five million litres of bitumen, sand and produced water leaked from the pipeline near Fort McMurray last Wednesday. Nexen says it regrets the spill and adds it remains committed to minimizing its impact on the environment and wildlife. Nexen apologizes after pipeline leak, one of North America’s largest-ever oil-related spills on land More than 1,600 ducks died after they landed on a toxic Syncrude tailings pond in northern Alberta in 2008, and the company was fined $3 million. Two years later, more than 550 birds had to be destroyed when an early winter storm forced them to land on waste ponds belonging to Syncrude and Suncor. Nexen says about 60 people are working to remove the bitumen emulsion from the site. The emulsion consists of 33 per cent bitumen and 67 per cent water, combined with minerals and sand. The spill area is about 40 metres by 400 metres. Alberta Energy Regulator spokeswoman Kim Blanchette said the spill occurred “in a muskeg, which is a swampy area, but there has been no impact in nearby rivers or waterways.” As part of the AER environmental protection order, Nexen is required to publish daily reports online about the progress of the cleanup. On its website, Nexen said it is setting up a hazardous material station, conducting surface water sampling and installing visual bird deterrents as steps. Crews will also continue capturing the emulsion from run-off pits dug on the north and south sides of the spill. Blanchette said Sunday Nexen is currently storing the collected emulsion in tanks. They also have an AER-approved storage pond on-site. “There are a variety of treatment methods,” Blanchette said. “They can pull the bitumen up from the fluid. They recycle the water for their production.” Contaminated soil will also be treated and disposed of in accordance with AER requirements. Blanchette said depending on the level of contamination, soil may be sent to a “landfill or waste treatment facility that’s approved to handle oil spill waste.” Nexen Photograph / Calgary HeraldA photograph showing the pipeline spill was on display as Nexen Senior Vice-President, Canadian Operations Ron Bailey provided an update regarding the pipeline failure near Nexen's Long Lake facility during a press conference on July 17, 2015 The burst section of the pipeline has been exposed, but there is no estimate on when the cleanup will be complete. “It’s a big spill so it’s going to take some time,” Blanchette said. “It’s too early to tell how long.” The Nexen pipeline runs from Kinosis, a set of well pads drilled about 10 or 12 kilometres south of the Long Lake facility. The line transports the emulsion from that operation to Long Lake. The operation uses steam to heat up the oilsands bitumen deep underground, enabling it to flow to the surface. | lofuw | |
21/7/2015 15:34 | Crews working around the clock to clean up major emulsion spill near Fort McMurray By Michelle Lepage, Edmonton Journal July 20, 2015 Clean up of a pipeline break south of Fort McMurray continued Sunday, four days after the five million-litre spill was discovered. A contractor was walking along the pipeline at Nexen Energy’s Long Lake oilsands facility last Wednesday when he discovered the break. Nexen says about 60 people are working to remove the bitumen emulsion from the site 36 kilometres south of Fort McMurray. The emulsion consists of 33 per cent bitumen and 67 per cent water, combined with minerals and sand. The spill area is about 40 metres by 400 metres. Nexen said the company has conducted environmental monitoring surveys, wildlife monitoring and continued installation of a fence to keep out wildlife. The company had drafted its wildlife mitigation plan and environmental plan in accordance with an environmental protection order issued Friday to Nexen by the Alberta Energy Regulator. AER spokeswoman Kim Blanchette said the spill occurred “in a muskeg, which is a swampy area, but there has been no impact in nearby rivers or waterways.” Blanchette also said there has been “no wildlife impact to date.” As part of the AER environmental protection order, Nexen is required to publish daily reports online about the progress of the cleanup. On its website, Nexen said it is setting up a hazardous material station, conducting surface water sampling and installing visual bird deterrents as steps. Crews will also continue capturing the emulsion from run-off pits dug on the north and south sides of the spill. Blanchette said Sunday Nexen is currently storing the collected emulsion in tanks. They also have an AER-approved storage pond on-site. “There are a variety of treatment methods,” Blanchette said. “They can pull the bitumen up from the fluid. They recycle the water for their production.” Contaminated soil will also be treated and disposed of in accordance with AER requirements. Blanchette said depending on the level of contamination, soil may be sent to a “landfill or waste treatment facility that’s approved to handle oil spill waste.” The burst section of the pipeline has been exposed, but there is no estimate on when the cleanup will be complete. “It’s a big spill so it’s going to take some time,” Blanchette said. “It’s too early to tell how long.” The Nexen pipeline runs from Kinosis, a set of well pads drilled about 10 or 12 kilometres south of the Long Lake facility. The line transports the emulsion from that operation to Long Lake. The operation uses steam to heat up the oilsands bitumen deep underground, enabling it to flow to the surface. | lofuw | |
20/7/2015 19:11 | I note from the latest Hill Street Investments administrators' report, dated 8 Jul 15 that there are still no takers for the worthless Alpha Prospects shares. Hill street also has shares in the worthless TOG as well as shares in the worthless TXO. They have managed to flog Equity for Growth (securities) to Tim his dad and his bird for £10k. | fishermansfriend | |
19/7/2015 08:13 | For those interested in oil companies check this Interview with Gaurav Sharma - an Independent Energy Analyst: | lilith83 | |
19/7/2015 05:54 | Pitts, Tim was clearly hoping that he would be able to keep the pantomime going by issuing bonus warrants that he hoped some shareholders would be stupid enough to exercise. Getting the annual report out with loads of false promises of jam tomorrow would have increased the number of people likely to fall for it. Annual reports are not difficult to produce, especially when the top line for revenue is zero. There are some debates to be had regarding the carrying value of assets and the level of write down that is appropriate but again not difficult. I believe the problem is getting the auditors to sign off on the accounts on a going concern basis. When the £500k from the investor in the Bahamas did not materialise TXO was effectively trading whilst insolvent. Since then they employed a number of tricks to get themselves back to being just about solvent - including the £30k the got from people stupid enough to round up their holdings prior to consolidation, but that money will have drained away. Thus I think they are in a catch 22 situation. They can't get the annual report out without a reasonably significant injection of cash and they can't get an injection of cash without getting the annual report out with its promises of jam tomorrow. The date by which the warrants need to be exercised is 31 Jul. We may well see some sort of attempt by the company to con shareholders into exercising some warrants, but so far all they have done is spam these boards to stifle any discussion of the true facts. | fishermansfriend | |
18/7/2015 08:38 | so why are you two inbreds still here? | temmujin | |
17/7/2015 22:11 | Is it possible that they aren't even bothering with ANY financial reports at all? I mean, what's the point? They've drained every last farthing they can I imagine.. so why SPEND anything? Save the cash for themselves, and let TXO get struck off. It's headed there anyway. ANd yes - anyone left reading this board should most definitely filter lofuw. Amazing to see that Tim just can't let go. | ih_237920 | |
16/7/2015 14:45 | I note that East African Oil Company - The completely worthless Tim Baldwin train wreck that never did anything but waste shareholders' money and which Tim pumped £50k of TXO shareholders money into in order to pay himself £11.5k in fees, has had its first strike off notification. They are overdue on both the annual return and annual report. TXO are now also overdue on both the annual return and the annual report. How long will it be before Companies House commence strike off action against TXO? Whilst there is clearly a major problem getting the annual report signed off by the auditors, there is no excuse for not getting the annual return done - it is a very simple document that does not need anyone external to sign off on it. How much do people want to bet that this post will be followed shortly by a whole load of spam posted by the company stooge. They will be able to do that I have little doubt, but they can't file a simple annual return - tells you all you need to know about where Tim's priorities lie. | fishermansfriend | |
09/7/2015 21:25 | Boom (containment) From Wikipedia, the free encyclopedia Jump to: navigation, search Oil spill containment boom shown holding back oil Two Indian Coast Guard vessels deploying an ocean boom. A containment boom is a temporary floating barrier used to contain an oil spill. Booms are used to reduce the possibility of polluting shorelines and other resources, and to help make recovery easier. Booms help to concentrate oil in thicker surface layers so that skimmers, vacuums, or other collection methods can be used more effectively. They come in many shapes and sizes, with various levels of effectiveness in different types of water conditions."[1] Often the first containment method to be used and the last equipment to be removed from the site of an oil spill, they are "the most commonly used and most environmentally acceptable response technique to clean up oil spills in the United States."[2] Booms used in oil spills can be seen as they rest on the surface of the water, but can have between 18 to 48 inches of material that hangs beneath the surface.[3] They're effective in calm water, but as wave height increases oil or other contaminants can easily wash over the top of the boom and render them useless. In any oil spill, the use of a single conventional boom is not effective in protecting environmental resources even with the correct draft and aspect ratio. For speeds of over 1 knot (of the water and hence the oil), the boom will fail to stop the oil because of drainage under the boom. The approaching oil needs to be decelerated before it meets the boom. Drainage failure may be avoided by using a series of well-designed booms.[4] Booming tactics[edit] Containment Booming - Placing a boom in a body of contaminated water for the purpose of holding or slowing the movement of contamination.[5] Diversion Booming - Placing a boom in a body of contaminated water for the purpose of diverting the contamination to a collection point.[6] Deflection Booming - Placing a boom in a body of water for the sole purpose of changing the course of the contamination. (Note: This method is used for contamination that is not intended to be recovered, and therefore not typically associated with oil spills)[7] Exclusion Booming - Placing a boom in a body of water for the purpose of blocking off a sensitive area from contamination.[8] Exclusion Boom is not recommended for fast water operating environments; consider Diversion Boom or Deflection Boom tactics instead is the advice from [8]. However, when Diversion Boom and Deflection Boom tactics are not suitable and resource protection is still needed, say, fast high tide in a sensitive estuary for instance, then an arrangement of booms with a decelerator is needed.[9][10] | lofuw | |
09/7/2015 18:55 | ive still got my spread bet though albeit dormant at the moment | temmujin | |
07/7/2015 02:17 | Temm, there is something seriously wrong with you. Is it a congenital brain defect? At least that might be understandable. Were you in a horrific car accident, that resulted in the obvious mental problems? You have my sympathy. Please don't tell me that your stupidity is the result of voluntary behaviour - that's just too sad to imagine. The "news" you quote is 3 months old. hxxp://www.txoplc.co | ih_237920 | |
06/7/2015 08:37 | Synthetic oil From Wikipedia, the free encyclopedia Jump to: navigation, search For synthetic liquid hydrocarbons, see Synthetic fuel. A sample of synthetic motor oil Synthetic oil is a lubricant consisting of chemical compounds that are artificially made (synthesized). Synthetic lubricants can be manufactured using chemically modified petroleum components rather than whole crude oil, but can also be synthesized from other raw materials. Synthetic oil is used as a substitute for lubricant refined from petroleum when operating in extremes of temperature, because, in general, it provides superior mechanical and chemical properties to those found in traditional mineral oils[citation needed]. Aircraft jet engines, for example, require the use of synthetic oils[citation needed], whereas aircraft piston engines do not. Synthetic lubricants are also used in metal stamping to provide environmental and other benefits[citation needed] when compared to conventional petroleum and animal fat based products. These products are also referred to as "non-oil" or "oil free"[citation needed]. Contents [hide] 1 Types 1.1 Synthetic Oil 1.1.1 PAO 1.1.2 Ester 1.2 Semi-synthetic oil 1.3 Other base stocks help semi-synthetic lubricants 2 Performance 2.1 Advantages 2.2 Disadvantages 3 See also 4 References Types[edit] Synthetic Oil[edit] Synthetic base stock lubricant oils, as described above, are man-made and tailored to have a controlled molecular structure with predictable properties. They are composed of organic and inorganic base stock oils combined with polymer packages to produce synthesised oil compounds (API Groups III, IV & V). PAO[edit] API Group IV Polyalphaolefins, 100% Synthetic chemical compound. Specific type of olefin (organic) that is used as a base stock in some synthetic lubricants. poly-alpha-olefin (or poly-α-olefin, abbreviated as PAO), is a polymer made by polymerizing an alpha-olefin. An alpha-olefin (or α-olefin) is an alkene where the carbon-carbon double bond starts at the α-carbon atom, i.e. the double bond is between the #1 and #2 carbons in the molecule.[1] Ester[edit] API Group V Esters are 100% Synthetic chemical compounds consisting of a carbonyl adjacent to an ether linkage. They are derived by reacting an oxoacid with a hydroxyl compound such as an alcohol or phenol. Esters are usually derived from an inorganic acid or organic acid in which at least one -OH (hydroxyl) group is replaced by an -O-alkyl (alkoxy) group, and most commonly from carboxylic acids and alcohols. That is, esters are formed by condensing an acid with an alcohol. Many chemically different "esters" due to their usually excellent lubricity are used for various reasons as either "additives" or "base stocks" for lubricants. [1] Semi-synthetic oil[edit] Semi-synthetic oils (also called 'synthetic blends') are blends of mineral oil with no more than 30% synthetic oil designed to have many of the benefits of synthetic oil without matching the cost of pure synthetic oil. Motul introduced the first semi-synthetic motor oil in 1966.[2] Lubricants that have synthetic base stocks even lower than 30% but with high-performance additive packs consisting of esters can also be considered synthetic lubricants. In general, ratio of the synthetic base stock is used to define commodity codes among the customs declarations of tax purposes. Other base stocks help semi-synthetic lubricants[edit] API Group II- and API Group III-type base stocks help to formulate more economic-type semi-synthetic lubricants. API Group I-, II-, II+-, and III-type mineral-base oil stocks are widely used in combination with additive packages, performance packages, and ester and/or API Group IV poly-alpha-olefins in order to formulate semi-synthetic-based lubricants. API Group III base oils are sometimes considered Fully synthetic, but they are still classified as highest-top-level mineral-base stocks. A Synthetic or Synthesized material is one that is produced by combining or building individual units into a unified entry. Synthetic base stocks as described above are man-made and tailored to have a controlled molecular structure with predictable properties, unlike mineral base oils, which are complex mixtures of naturally occurring hydrocarbons and paraffins.[ | lofuw | |
04/7/2015 11:05 | re listing soon TXO PLC ("TXO" or the "Company") Update re Annual Accounts The Company is in the process of finalising its accounts and these will include a detailed outlook section. The audit is scheduled for this month and once complete the accounts will be posted on the Company website. It is the intention of the Board for TXO to re-list on a Recognised Investment Exchange in due course. In the intervening period shareholders will be kept updated via the website. For further information, please contact: TXO PLC | temmujin | |
04/7/2015 11:02 | Posted by TXO on Wednesday May 27, 2015 TXO PLC ("TXO" or the "Company") Empire Energy Update TXO PLC, the resource and clean technology investment company, announces that agreement has been reached between Empire Energy Corporation International Inc ("Empire") and Smart Win International Limited ("Smart Win"). The following statement was issued by Paul Batista, Empire's US counsel: "Empire Energy Corporation International and Empire's Chief Executive Officer, Malcolm Bendall, and Smart Win International Limited have agreed to resolve their claims and counterclaims on a basis that allows Empire the opportunity to continue to finance and pursue Empire's business plans and historical assets in the Tasmanian Basin. The settlement agreement, which is confidential, permits Smart Win to retain an equity investment in Empire. The resolution between Smart Win and Empire will, in the opinion of Empire's management, give Empire the ability to pursue the parties, such as Hunt Energy and others, which were responsible for the impairment of Empire's assets and business plans. Empire recognises that third parties with improper pre-meditated objectives were responsible for the loss of Empire's business plan to exploit oil and gas energy resources covered by licenses issued to Empire and one of its subsidiaries by the Tasmanian Government. The settlement empowers Empire to focus on its efforts to implement plans to exploit oil and other energy resources in Tasmania." For further information, please contact: TXO PLC Tim Baldwin, Chairman +44 (0) 207 518 4300 Lothbury Financial Services Limited +44 (0) 203 440 7620 Michael Padley / Chris Roberts | temmujin | |
04/7/2015 10:55 | fishermansfriend = nut job | temmujin | |
04/7/2015 10:54 | cant understand why the derampers are still here seeing the company is delisted...are they right in the head? | temmujin | |
04/7/2015 09:40 | Still spamming and voting his own posts up close to midnight on a Friday! Now there is dedication or is it utter desperation for you. Had they worked as hard on running the company properly and on simple things like producing reports and returns in good time, then maybe shareholders would not have lost all their money. | fishermansfriend | |
04/7/2015 09:39 | Still spamming and voting his own posts up close to midnight on a Friday! Now there is dedication or is it utter desperation for you. Had they worked as hard on running the company properly and on simple things like producing reports and returns in good time, then maybe shareholders would not have lost all their money. | fishermansfriend |
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