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Well said Auson, finally another voice of reason ππ!
That's OK , Ken Dodd, I will let you know what the company's response is.
Ovets; I will defend any unnecessary Scaremongering !
Alma's accusation that Navitas has forgotten and need reminding by posters is utterly incomprehensible and nothing more than Scaremongering !
And you think Navitas are unaware of this and need reminding by an lse poster ??? π€£ π π π€£
To suggest Navitas are unaware of losing the production license & 500 million barrels and need a reminder by your good self is Preposterous beyound human imagination !
AlmaCogan,
You know you can just open a new company name and transfer over easy as that !
Laugh as you wish, Ken Dodd, but this is the Sea Lion operating company
FIRST GAZETTE NOTICE
08138246 NAVITAS PETROLEUM
DEVELOPMENT AND PRODUCTION LTD
Publication date in the Gazette: 30/04/2024
The Registrar of Companies gives notice that, unless cause is shown to the contrary, the Company will be struck off the register and dissolved not less than 2 months from the date shown above.
Upon the Company's dissolution, all property and rights vested in, or held in trust for, the Company are deemed to be bona vacantia, and will belong to the Crown.
On 26th Sept 2023
Electronically filed document for Company Number: 08138246Confirmation Statement I confirm that all information required to be delivered by the company to the registrar in relation to the confirmation period concerned either has been delivered or is being delivered at the same time as the confirmation statement
an awful lot of words and emojis to say very little, tcm, and a bit unnecessarily *****y isn't it?
I'm still laughing about Alma getting on her high horse yesterday trying to save Navitas's ass with her timely reminder ...I mean come on, be serious, as though GT needs Alma Cogan to remind him his accounts are overdue and that he's gonna lose the Sea Lion Production License & 500mbs of oil π .Its Preposterous!
Yr a Great sport though Alma π, I'll give you that and you provided some pure comedy gold yesterday with your ill-founded paniky, concerns on the most basic Business fundamental of filing accounts before deadlines but I'm 100% certain this is not Navitas's first Rodeo on the need to file accounts and that they are, without any shadow of doubt,100% aware of the need to file accounts, so rest assured, they do not require any lse posters to remind them when to file their accounts.
Like I said, GT will not give a Sh-ite about the UK or its legislation and I expect them to have already/or have the intention to have the licenses signed over to something more suitable for Navitas ( Outside the unhelpful & oil unfriendly UK),lots of companies have different assets under different umbrella companies in different countries.
Now I think this switch over is far more likely than the ludicrous accusation that they had simply 'forgotten' to file the accounts and are in danger of losing the production license and the 500million barrels and in need of a reminder from Good ole Alma π€£ π π
It's nice to have some light-hearted entertainment here whilst we await some real news so lets hear it for Alma π π Oh, btw Alma, Did you write to the company secretary and advise them when to file their accounts π π€£ π€£ Keep up the Good Work, Navitas would be lost without you π
The ghost of Ken Dodd appears in the form of a chess pawn. Tax, what tax? he said.
Oh yes, I can see the Headline now...." LSE Poster & Part Time Sleuth, Alma Coglan, saves Navitas Petroleum from losing their 500mb Sea Lion Production license by her timely intervention in reminding the company that they 'must' file their accounts before the Deadline.
Navitas Chief Executive Officer, Gideon Tadmor, personally thanked Alma for her timely intervention.
Tadmor said " that Navitas were so busy with Shenandoah and raising Β£1Billion for Sea Lion that they'd totally forgot to file the accounts and that they also forgot about all the reminders they received from Companies House & their legal team that repeatly told us in no uncertain terms they would be struck off and lose the production license on Sea Lion if we did not submit their accounts by the given date".
Gideon said" It was a really close run thing and without Alma's timely intervention, I'm ashamed to admit we would've lost those licences & thus 500mb of oil.Tadmor said, it's easy done, anyone can forget such minute detail as losing a production license on 500mbs of oil".
"Yes, we had endless reminders but we've all got memories like seives here at Navitas but we aim to put this right and make sure it cannot happen again so Alma has kindly agreed to send us a timely reminder each time we need to file the accounts in future.
And to show their appreciation, Navitas have invited Alma to the Victory Bar Pub in Stanley this Saturday tea time for happy hour and her first 2 drinks will be free, however, Gideon apologised once again, for forgetting to include travel and he also forgot to procure a hotel for Alma oh and he forgot to order fresh barrels for the pub so the trips been suspended temporarily.
Asked about Alma's travel & accommodation mishap, Tadmor replied, ..."Alma? Who's Alma", ....Damn, He's only gone & forgot again.
One has to wonder how GT & his Elite Team can run a Multi-Billion dollar company like Navitas - when everyone at the company has got seives for memory and they cant even remember to file accounts inspite of all the reminders π€£ π π ...
Correction * over Β£700 million of tax losses*
OIL, I will write to the company secretary , Broughton Secretaries Ltd.
This company "NAVITAS PETROLEUM DEVELOPMENT AND PRODUCTION LTD" formerly "PREMIER OIL EXPLORATION AND PRODUCTION LIMITED" is the operator of the Sea Lion field and it carries over Β£700,000 of tax losses to consume, there is no way it can just be forfeit to the Crown in July if the strike off is not reversed.
Moving the licence asset to another company will not move its tax losses.
TCM's view that Companies House is irrelevant, is simply absurd. It talks a lot but makes little sense.
Alma, Write to Amit@
DEM
Of course you are correct and I had the same thoughts, but TCM rises to the bait faster than a salmon to a fly on the Spey. Don't spoil my fun!
"The Navitas company registered in England and Wales is the one with the Production Licence from FIG. If the Gazetted strike off reaches conclusion in 60 days, Gideon will have no licence to produce oil". (AC)
Agreed. However, this assumes that GT intends to continue with this unlisted company as the vehicle for Sea Lion & other future developments. There are alternative scenarios - which may perhaps be connected with the recent frequency of visits to the FI by both Sam and the NVPT team. Just a thought.
DEM
π€£ π€£ Alma, stop please, with all due respect, your embarrassing yourself !
Rest assured, Gideon Tadmor knows exactly what he is doing, the man is borderline genuis and heads a Successful Multi-Billion dollar company with a competent team of specialists, who also know exactly what they're doing...so I say again, Gideon Tadmor does not need telling from Alma Coglan or any other LSE poster that his accounts are overdue in England and that if he doesn't file them he will be struck off a totally meaningless register . It's Preposterous to think this genuis of a man needs reminding by LSE posters of one of the most basic principles in business !!!
TheChessMaster, FYI
The Navitas company registered in England and Wales is the one with the Production Licence from FIG. If the Gazetted strike off reaches conclusion in 60 days, Gideon will have no licence to produce oil. So while he may not be interested in minor English matters in your world, the devil is often in the detail, and he will have to wake up and deal with it. If he doesn't, I will take in on to remind him because my economic interest through RKH is being compromised. So is yours.
The SPs holding up, something regulars will know was never possible before, any buying volume was almost always sold into, so there is clearly demand for the shares,which should increase in line with the anticipated newsflow over the next 6months.
Will Sam update the market on his trip to FIs π€
Did he get FIGs signature on OM or the Tax ammendment π€
Are we near to hearing Nav have entered into an FPSO LOI π€
Could OM decision come sooner than anticipated (October) π€
How far away are Nav from securing SL Funding and will FID be Q4 24 as expected π€
Plenty for the discerning investor to muse over and all are expected before year end !
I don't think Mr Tadmor will need reminding from LSE posters that his Multi-Billion pound companies accounts are over due in England π.
He's almost certainly not interested in England or its system and more than happy to just let it lapse- having received no help whatsoever from the British Government in opening a Billion barrel basin in the Fls.
Alma,
No point sending Gideon an email or trying to call, it's Passover so he will be not allowed to use a phone, computer, check email or anything of the like, well not until after the 30th of April anyway.
Regards LTT
Thanks for the clarification DeusExMachina, I thought I was looking at it the wrong way, I'll get my coat!
;-)
LTT
Https://find-and-update.company-information.service.gov.uk/company/08138246
Someone ought to have a quick word with Gideon and remind him that his accounts are overdue and Companies House have gazetted a striking off notice for his company
Hi LTT
I think the FIG site merely records the names of the legal entities at the time the licences were issued. Desire and FOGL both still exist as legal entities and are 100% owned by RKH. See page 76 of RKH R&A's :
https://rockhopperexploration.co.uk/wp-content/uploads/2023/06/Rockhopper-Annual-Report-2022-WEB-FINAL.pdf
Ditto Premier Oil Exploration And Production Limited (POEPL) which was the Premier subsidiary used to hold the Falkland licences - before being acquired by Navitas.
'Don't panic Mr Mannering' !
DEM
But when is says Desire Petroleum holding 32% and 30%, RKH holds 5%/3% and that; "Navitas Petroleum Development and Production Limited was formerly Premier Oil Exploration And Production Limited". I am wondering who is in charge of making these documents!
Can only assume itβs Market Dealer