BP EXPLORATION NORTH AFRICA LIMITED

• ⚠

  Material uncertainty over going concern

  Following the Saqqara divestment and the discontinuation of the company's operations, the directors believe that the company is no longer a going concern. It is the intention of the directors that the company will remain open until the settlement of the discontinued operations is completed. Following the completion, the intention is to liquidate the company. The financial statements have been prepared on a basis other than going concern. No adjustments arose as a consequence of ceasing to apply the going concern basis.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  0%

  £748 → £748

• Net assets

  0%

  £748 → £748

• Employees

  —

  Not reported

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

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 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Following the Saqqara divestment and the discontinuation of the company's operations, the directors believe that the company is no longer a going concern. It is the intention of the directors that the company will remain open until the settlement of the discontinued operations is completed. Following the completion, the intention is to liquidate the company. The financial statements have been prepared on a basis other than going concern. No adjustments arose as a consequence of ceasing to apply the going concern basis.”

Significant events

• “During 2019 the company discontinued its operations and has ceased to trade. The cessation of trade has caused the going concern assumption to be revoked and the accounts have been prepared on a basis other than that of a going concern. On 3 June 2019, BP announced its divestment of its interests in its Gulf of Suez oil concessions in Egypt, including the Saqqara concession held by this company, to Dragon Oil Company. The divestment was officially signed off on 9th October 2019, following the Egyptian Ministry of Petroleum and Mineral Resources' approval following which the company ceased trading.”

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

1

last 12 months

Officers resigned

1

last 12 months

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