PRAX UPSTREAM LIMITED

• ⚠

  Annual accounts overdue

  Due 2026-02-28.

• ◆

  5 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. PRAX UPSTREAM LIMITED 2023-06-23 → present
2. HURRICANE ENERGY LIMITED 2023-06-22 → 2023-06-23
3. HURRICANE ENERGY PLC 2013-04-17 → 2023-06-22
4. HURRICANE EXPLORATION PLC 2005-02-24 → 2013-04-17
5. HURRICANE EXPLORATION LIMITED 2004-12-22 → 2005-02-24
6. BLAKEDEW 531 LIMITED 2004-09-29 → 2004-12-22

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

PKF Littlejohn LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. PRAX UPSTREAM LIMITED · parent
   1. Prax Hurricane Holdings Limited · United Kingdom · Holding company
   2. Prax Hurricane GLA Limited · United Kingdom · Oil and gas development and production
   3. Prax Hurricane GWA Limited · United Kingdom · Oil and gas development and production
   4. Prax Hurricane (Whirlwind) Limited · United Kingdom · Oil and gas development and production
   5. Prax Hurricane Basement Limited · United Kingdom · Dormant company
   6. Prax Hurricane Group Limited · United Kingdom · Dormant company
   7. Prax Hurricane Petroleum Limited · United Kingdom · Dormant company
   8. Prax Hurricane (Strathmore) Limited · United Kingdom · Dormant company

Significant events

• “On 8 June 2023, the acquisition of Hurricane Energy plc's (now Prax Upstream Limited's) entire issued ordinary share capital by Prax Exploration & Production PLC was completed resulting in the Group becoming part of the wider State Oil group of companies with the ultimate parent company of this wider group being Prax Group Holdings Limited.”
• “On 3 February 2023, the Company's previously held share premium account for value $822.5m was cancelled against the Company's accumulated deficit.”
• “On 17 February 2023, the Group relinquished the licence P2308 comprising the (Halifax) asset.”
• “On 27 June 2024, the Prax Group announced the signing of an agreement to acquire TotalEnergies' 40% interest in the Greater Laggan Area fields and the onshore Shetland Gas Plant ("GLA"), as well as its interests in several nearby exploration licenses, with the transaction subject to approval from the relevant authorities.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

0

last 24 months

Officers appointed

6

last 12 months

Officers resigned

5

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.