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TXO TXO

0.045
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
TXO LSE:TXO London Ordinary Share GB00B3SYR037 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.045 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.045 GBX

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Posted at 06/1/2019 19:57 by outspan
Re Marine Oil Recycling, likely links are: EfG (Securities) now having acquired significant control from David Morgan; and TB's LinkedIn listing under his EfG (Securities) banner. The latter has an article by the man himself that sounds all too familiar with the past e.g. TXO, GBG, ORS, Morgan Marine oil and what they weren't all going to do with the supposed phenomenal demand of passing ships (in the night as it turns out). I've saved a copy which I'll paste here if he removes it from there.

Talking of EfG (Securities), TB and the Webb 360 link up, one company has an active FCA licence but without much sign of a current purpose and one says its "last regulatory licence has been sold" but then forecasts its future strategy to lie in providing investment for private growth companies etc. #hmmm

Meanwhile, some that know a bit might think the sparkling new webb360 website is significantly ahead of itself and feels all a bit odd in the way that Webb360 Consultancy Ltd, owned solely by Webb and his missus, appears to be the big-cheese holding company (but isn’t, is it?). While the Ventures version is reduced to a mere tab, albeit having been the main trading company and likely to remain so, therefore ranking it no higher than another Webb-only, long time dormant company, Gateway2AIM (on another tab) but now presumably looking about to have some life breathed into it.

Don’t know about anyone else but I also find the weasel words of the Fund Management tab quite naughty, as if to deliberately give the impression that the Elite Fund falls within this particular Webb fold. As we know, this fund was sold to Peterhouse and PW was/is merely retained as the consultant investment manager but anyone not knowing this could easily be misled into thinking it’s part of the Webb360 stable. #unregulatedanditshows
Posted at 04/1/2019 21:52 by outspan
Decent honest fellow or not, what would concern me most about PW is how little he appears to have learnt from previous experience of both Baldwin and Foster. It took a bit of finding but I recalled a share swap a few years back between TB's doomed Hill Street and Webb Capital (a previous name of Webb 360) whereby Webb gave a new lump of its shares to Hill Street in exchange for a lump of Hill Street's Alpha shares.

A few buzzwords into a search engine along with 3 April 2012 (e.g. alpha prospects april 2012 share swap) should get anyone there who is interested enough. Take particular note of this gem - what an absolute hoot - "...Commenting on the transaction, Christopher Marsh, Chairman of Webb Capital, said:

"We are delighted to welcome Hill Street Investments, whose CEO is serial
entrepreneur Tim Baldwin, onto our share register. We are looking to develop
substantial value from our investment in Alpha Prospects and to establish a
close working relationship with Tim and his business associates.""

So add in CF of Alpha and that puts them all in the same small space a few years ago and yet...PW now finds a place for TB on the Board of Webb 360. Judgement call anybody?

Link then to what looks to have been an essential sale of Webb Capital Funds to Peterhouse (where PW is a Director) and presumably why Webb Capital has now been renamed to Webb 360. A City Wire article (suggested search terms "Peter Webb sells small cap fund house" throws a good amount of light on the origin of those funds from TW management which some might think raises another question of judgement.

Anyone finding and reading the article shouldn't miss clicking on the inbuilt "brought in to take over funds" link. As the article progresses you'll find comment that appears to bring this post of mine full circle:

"...Ironically, Webb offered Rivington a 9.9% stake in his business last year in return for acquiring its corporate finance arm, although the deal was later called off. Webb Capital went on to grant a similar stake in a deal with Hill Street Investments, led by serial entrepreneur Tim Baldwin. Last year there was a sign that Webb may have returned to his old activist style when he attempted to gain control of BWA Group, a company that was not investing its cash as fast as Webb wanted..."

Talk about sniffing around in all the wrong places!
Posted at 06/12/2018 18:19 by sweet karolina
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:
Posted at 23/10/2018 10:22 by lofuw
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
Posted at 20/4/2018 22:17 by sweet karolina
Finally Kingston Smith - TXO's auditors face disciplinary action from ICAEW over the fraudulent TXO accounts they negligently signed off on.
Posted at 16/3/2018 20:16 by sweet karolina
I note John Taylor has quit at Cleaner Fuels. Another Tim Baldwin flop. What a great gift those shares were to trapped TXO holders. At least no one was stupid enough to fall for the BS great opportunity to lose even more money placing Tim tried and failed to con trapped TXO holders into.

In about a month I should finally know the outcome of the ICAEW investigation into TXO's auditor, then it will be time to go after the people who put those lies together in the annual report in the first place.
Posted at 06/2/2018 10:19 by supersonico
Lube News.. AKA ' in my honestly held opinion' news

SweetKarolina AKA /ih_318421/Recovery Stock/ Drunken sailor/Newt seaman/ Ceilingcat

Rec0very Stock - 17 May 2013 - 14:33:52 - 9832 of 12972
Txo Plc - Oil And Gas Exploration And Production - TXO
Black Gold I think this excellent post by ih_318421 who is also Drunken Sailor answers your question.
.......................................................................

ih_318421 - 03 Jul 2014 - 20:21:07 - 6922 of 8014
TXO PLC (Texas Oil and Gas): CHART AND DISCUSSION THREAD (moderated) - TXO

Also from last year's interims:

"Tortuous Interference

The Board of TXO Plc has been aware of malicious blogging and other actions by an individual who has no address or telephone number. This has been on-going for at least the past 12 months, increasing in malice and frequency against the Company since the beginning of 2013. This individual blogs under a number of different pseudonyms. The Company is taking steps to deal with this but shareholders are advised to ignore malicious blogs and first verify facts with the Company's announcements."

Before posting I do check what lies were told in the Company's announcements, Shareholders who followed Blobby's advice and ignored the factual posts in favour of misleading and ambiguous company announcements are down over 60% on this time last year as a result. Nice one Blobby! see you at next year's AGM, this year's was such fun I almost can't wait.
Posted at 02/1/2018 11:12 by lofuw
What Drove WTI Above $60?
By Nick Cunningham - Dec 27, 2017, 6:00 PM CST
Oil Rig
WTI briefly broke above $60 per barrel on news that a pipeline in Libya exploded, knocking a sizable portion of supply offline.

The oil pipeline carries crude oil to the Es Sider oil export terminal, Libya’s largest, raising fears of a dramatic supply outage. Early reports suggest that the explosion was the result of an attack by militants, although the precise cause was unclear.

However, Libya’s National Oil Company said that the incident will curtail output by 70,000 to 100,000 bpd – not a trivial amount of supply, but not the nightmare scenario that some oil traders may have feared. The National Oil Company said that Waha Oil Co. "has immediately diverted production to the Samah line,” which will help keep oil flowing. “However, NOC expects a reduction in production of [between] 70,000 to 100,000 barrels a day," the statement said, according to S&P Global Platts.

The Es Sider terminal was one of the main export facilities that suffered disruptions in recent years, and its return to operation is what has helped Libya ramp up oil production and exports, restoring shipments to 1 million barrels per day (mb/d) from less than half of that a little more than a year ago.

The outage is not catastrophic, but Brent prices jumped more than 2.5 percent on the news, closing in on $67 per barrel, while WTI topped $60 per barrel for the first time in more than two and a half years.

Related: The Biggest Factors In Future Oil Production

The jolt to prices speaks a lot to how psychology can move the market. After all, the amount of supply knocked offline in Libya is about equivalent to the volume added to the global market from U.S. shale in just the past few weeks. And despite the U.S. adding supply in such a short amount of time, prices have posted gains since the start of December. The markets have priced in gains from shale, but they haven’t priced in unexpected outages.

The disruption in Libya, as long as the size of the volume knocked offline stays at the 100,000-bpd level, probably won’t have a major effect on the oil market. Indeed, prices fell back after it became clear that the disruption was as small as it is.

But the market jitters are magnified by the fact that the oil market is a lot tighter than it used to be. Inventories have dramatically declined, and are sitting roughly 100 million barrels above the five-year average, less than a third of the peak surplus the market saw last year. An outage in Libya could help accelerate the rebalancing process, depending on how long it takes for the pipeline to see repairs.

It also comes on the heels of a roughly 400,000-450,000 bpd outage in the North Sea because of the crack in the Forties pipeline. Moreover, a string of geopolitical events in the second half of 2017 acted as price catalysts, a notable change after about three years during which no amount of unrest was able bother oil prices at all.

Related: Goldman: Oil Markets To Balance Sooner Than Expected

These incidents highlight the unforeseen risks to supply, although in the case of the latter, repairs are expected to be completed in the next few days with a full return to operation of the Forties pipeline expected in January. “Oil markets got a real big reminder of all the different things that can and will drive prices—from investor flows to geopolitics to unplanned disruptions pipelines and refineries,” Michael Wittner, global head of oil research at Société; Générale, told the WSJ, referring to the reemergence of geopolitical risk.

Investors trading in oil futures are starting to show some signs of nervousness, which makes incidents like the Libya outage important. Hedge funds and other money managers trimmed their net-length in WTI futures for the week ending on December 19, the third consecutive week of a decline.

The outage in Libya could stave off a further liquidation of bullish bets, but the return of the Forties pipeline might also pose downside risk. There is "some worry about what next month is going to bring," John Kilduff, founding partner at Again Capital LLC told Bloomberg. "There’s not as much enthusiasm about the OPEC/non-OPEC accord as there was even a few weeks ago."
Posted at 27/12/2017 21:20 by temmujin
will txo relist?
Posted at 21/10/2017 15:22 by sweet karolina
From :
Date : 21/10/2017 - 15:07 (GMTST)
To : enquiries@companieshouse.gov.uk
Cc : Helena.Murray@icaew.com
Subject : Clean Tech Assets 02398784 - Strike Off

Dear Companies House,

Clean Tech Assets Ltd (Formerly TXO PLC) is now well over a year overdue for filing Annual Accounts - as it was a PLC for virtually the entire accounting period these should be full accounts. TXO lost its AIM listing nearly 4 years ago trapping about 200 private investors. Clean Tech Assets is in CVA, which would appear to have involved transferring largely worthless assets and liabilities to another company - St Hill IOM Management Services 05399681 (formerly East African Oil Company Ltd and run by the same director who ran TXO / CTA into the ground), which has recently applied for strike off. Is it not about time Clean Tech Assets was struck off, thereby allowing those trapped investors to crystalize their losses and offset them against any capital gains they may have. A first strike off notification in the next few weeks would enable a final strike off to occur this tax year.

The last set of accounts produced for the period ending 30 Sep 14, eventually published Sep 15, are under investigation by ICAEW, who will shortly decide on what sanctions, if any, to impose on the auditors Kingston Smith who signed off on the fraudulent fiction contained in that report, however that would not seem to be a good reason to further prolong the agony of trapped investors.

Regards

Adrian
TXO Plc share price data is direct from the London Stock Exchange

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