WHITE FLAME ENERGY LTD

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. WHITE FLAME ENERGY LTD 2022-08-12 → present
2. GREENLAND GAS & OIL LIMITED 2015-11-02 → 2022-08-12
3. GREENLAND GAS & OIL PLC 2013-10-29 → 2015-11-02
4. GREENLAND GAS CO PLC 2013-09-13 → 2013-10-29

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

IFRS

Reporting scope

Consolidated group

Audit opinion

Unaudited (audit-exempt)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Group has adequate resources to continue in existence for the foreseeable future and, therefore, continue to adopt the going concern basis in preparing the Annual Report and Financial Statements.”

Group structure

1. WHITE FLAME ENERGY LTD · parent
   1. Greenland Gas & Oil A/S 100% · Greenland · Exploration

Significant events

• “The company spent the majority of 2024 securing multi-year extensions for White Flame licenses from the Greenland Government. These extensions were awarded in October 2024 and extend the total license period to 31 December 2035.”
• “The Company was acquired by 80 Mile Pic ("80M"). Pursuant to Tranche 1, 80M will acquire 51% of the issued share capital of White Flame for a maximum purchase price of £1,402,500.”
• “Post year end, 80M announced it has entered into a binding heads of terms agreement ("HOT") with March GL Company ("MGL"), whereby MGL will fund stratigraphic research drilling at the Jameson industrial gas and liquids rich project in Greenland.”
• “On 13 January 2025, 80 Mile plc ("80 Mile") completed the acquisition of White Flame Energy following the satisfaction of all condition's precedent, including regulatory approval.”
• “During the year ending 31 December 2024, all tranches of share options granted were waived following the shareholder acceptance of 80 Mile Pic's offer to acquire the Company... Consequently, the share-based scheme was terminated.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  -97.6%

  £40,145 → £947

• Net assets

  -138.5%

  £28,615 → -£11,016

• Employees

  -25%

  4 → 3

• Operating profit

  +54.6%

  -£84,173 → -£38,193

• Profit before tax

  +54.6%

  -£84,173 → -£38,193

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers