TXO Plc Share Discussion Threads

[outspan] 03/1/2019 14:58

Ooh, ouch, attempted burial already lol. Be all the more aware folks!

[outspan] 03/1/2019 14:01

Well done SK. Further to Webb 360, he added another directorship in Dec - Demtech Ventures, formerly Vertex Advisors. Not to mention also in Nov, the setting up of a newco, Equity For Growth Investment Management Ltd under one his many alternative listings as a Director.

Under yet another personal listing, he was reappointed at Marine Oil Recycling Ltd in Mar 18, having previously resigned in Dec 16 and is now sole Director, the latest filings indicating that he has seized "significant control" via one of his other EfG companies (under another personal listing for him) from David Morgan. Companies House really needs to get a grip! Seems a different address is all it takes to avoid being listed singularly as a director (though he does also drop his middle name to add to the problem).

Strong suggestions of seeking fresh corporate activity?

[sweet karolina] 28/12/2018 17:24

I have heard from the insolvency service that CTA was put in compulsory liquidation on 11 Dec and the Official Receiver has been appointed to look into what went wrong. I will be in direct contact with the Official Receiver to ensure he has a complete picture.

[sweet karolina] 06/12/2018 18:19

3 years of investigation and this is the best ICAEW can do:

8. Kingston Smith LLP

Consent order made on 13 November 2018

With the agreement of Kingston Smith LLP of London, United Kingdom the Investigation Committee made an order that the firm be severely reprimanded, fined £13,750 and pay costs of £5,974 with respect to a complaint that:

On 24 September 2015 Kingston Smith LLP issued an unqualified audit opinion in respect of the accounts of ‘X’[Clean Tech Assets] Limited (formerly known as ‘Y’[TXO] plc) for the year ended 30 September 2014, in breach of the following International Standards on Auditing (UK & Ireland) (ISA):

b) ISA 500 Audit Evidence in that the auditor failed to obtain sufficient appropriate audit evidence to be able to draw reasonable conclusions regarding the carrying value of fixed assets, and/or.

c) ISA 230 Audit Documentation in that the auditor failed to document the evidence obtained and the conclusions reached in relation to the audit of fixed asset investments

Bottom of page 27:

[glenalmond] 23/11/2018 06:36

Is the repugnant and shameless toad in prison yet?

[sweet karolina] 16/11/2018 23:12

The Clean Tech Assets CVA has been terminated. Baldwin failed to meet the conditions and despite various attempts to vary the arrangement continued to fail to do anything. There is now a winding up petition and the company will be liquidated.

I will assist the liquidator with his report on the conduct of directors.

[sweet karolina] 05/11/2018 19:09

Anyone who exercised bonus warrants PM me on here or drop me a line at [e-mail]. I have some potentially good news for you.

[sweet karolina] 04/11/2018 00:17

The CTA CVA supervisors report makes interesting reading.



Baldwin tried to buy the assets cheap (£25k cash plus convertible loan notes) and that was agreed, but he failed to come up with even £25k in cash. The company he was going to put the assets into and issue the loan notes has been dissolved (St Hill IOM - formerly East African Oil).



Unsecured creditors owed £1.2M will get nothing and Mike Markham who foolishly put in £500k as a secured creditor faces a massive shortfall

[sweet karolina] 24/10/2018 19:51

Tim's spamfest continues so amusing to see

[lofuw] 24/10/2018 10:48

Can We Expect A Rebound Rally Next Week?
By Jim Hyerczyk - Oct 21, 2018, 4:00 PM CDT
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U.S. West Texas Intermediate and International-benchmark Brent crude oil futures are trading higher on Friday after a steep sell-off the past two sessions. The markets are trading inside Thursday’s range which suggests investor indecision and impending volatility. It could also be suggesting that traders are transitioning for a counter-trend move. Nonetheless, U.S. and Brent crude are both in positions to post a second week of losses.
China Enters the Picture
The focus for investors late in the week shifted to U.S.-China relations and the on-going Sino-U.S. trade war. Despite the early strength, gains are still being limited by concerns that these events are hurting overall economic activity.
Early Friday, domestic government data showed refinery throughput in China, the world’s second-largest oil importer, rose to a record high of 12.49 million barrels per day (bpd) in September as some independent plants restarted operations after prolonged shutdowns over summer to shore up inventories.
However, the report also showed that refinery consumption may rise through the fourth quarter as several state-owned Chinese refiners return to service after maintenance.
On the bearish demand side, China also reported on Friday its weakest economic growth since 2009 in the third quarter, with gross domestic product expanding by only 6.5 percent, coming in below estimates.
Looking ahead, the weak GDP data raised concerns that the country’s trade war with the United States is beginning to have an impact on growth, which may limit China’s oil demand.
Despite Friday’s early rebound rally, the data this week has been bearish so we’re not expecting too much of a reversal to the upside. Putting the most downside pressure on prices this week has been the bearish EIA Weekly Petroleum Status Report.
U.S. Energy Information Administration (EIA) Report
According to the U.S. Energy Information Administration, U.S. crude stocks rose 6.5 million barrels during the week-ending October 12, the fourth straight weekly build. Traders were looking for a 1.6 million barrel build.
Inventories rose sharply even as U.S. crude production fell 300,000 bpd to 10.9 million bpd last week. Analysts said the drop was attributed to the effects of offshore facilities closing temporarily for Hurricane Michael.
Gasoline stockpiles fell by 2 million barrels last week, while distillate stockpiles declined by 800,000 barrels, according to the EIA. Forecasts called for a drop of 1.52 million barrels in gasoline and 1.5 million barrels for distillates.
Saudi Arabia’s Problems Worsen
Oil traders are also continuing to monitor developments over the death of a prominent Saudi journalist. According to CNBC, U.S. President Trump gave Saudi Arabia the benefit of the doubt in the disappearance and apparent death of journalist Jamal Khashoggi even as U.S. lawmakers pointed the finger at the Saudi leadership and Western pressure mounted on Riyadh to provide answers.
The outcome of an investigation could lead to U.S. sanctions against Saudi Arabia, but Saudi officials have also promised retaliation if sanctions are pursued. This may mean a cut in production, which should be bullish for prices. Some traders are speculating Saudi Arabia could cut as much as 500,000 barrels per day of crude production in response to any U.S. sanctions.
Related: What Killed The Oil Price Rally?
In the meantime, the Saudi’s tried to deflect the negative news by talking up its role in preventing a worldwide oil shortage following the start of the sanctions against Iran on November 4. In an attempt to prevent a speculative rally and keep prices under control, Saudi Arabia assured OPEC that it is “committed, capable and willing” to ensure there will be no shortage in the oil market, OPEC’s secretary-general said.


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In other news, Saudi Arabia and Kuwait are expected to struggle to resume oil production from jointly operated fields that produced some 500,000 bpd any time soon due to operational differences and souring political ties, CNBC sources said on Wednesday.
Additionally, the West is trying to put financial pressure on the Saudi’s amid growing controversy over Khashoggi by pulling out of its major investment conference. On Wednesday, the managing direction of the International Monetary Fund and the heads of two major French banks said they would not attend the conference. On Thursday, Treasury Secretary Steven Mnuchin announced that he will not participate in the high-profile conference.
Technical Analysis
Weekly December West Texas Intermediate Crude Oil Technical Analysis

(Click to enlarge)
The chart pattern is fairly simple for December WTI crude oil. Whil