DISCOVER EXPLORATION LIMITED
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Cash
£9.7m
USD 13,038,000
+55.9% highest in 3 filed years
Net assets
£19m
USD 26,045,000
-90% lowest in 3 filed years
Employees
6
0% vs 2024
Profit before tax
-£22m
USD -29,939,000
-1,074.4% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
Accordingly, the directors consider that the financial statements should be prepared on a basis other than as a going concern.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | — | — | — | |
| Operating profit | -£2,150,141 | -£1,891,913 | -£2,142,486 | -13.2% | |
| Profit before tax | -£2,150,141 | -£1,891,913 | -£22,218,182 | -1,074.4% | |
| Net profit | -£2,147,003 | -£2,198,344 | -£6,610,761 | -200.7% | |
| Cash | £3,472,702 | £6,207,418 | £9,675,696 | +55.9% | |
| Total assets less current liabilities | £132,652,965 | £205,314,390 | £19,328,386 | -90.6% | |
| Net assets | £132,652,965 | £193,108,087 | £19,328,386 | -90% | |
| Equity | £132,652,965 | £193,108,087 | £19,328,386 | -90% | |
| Average employees | 6 | 6 | 6 | 0% | |
| Wages | £40,791 | £290,513 | £403,711 | +39% | |
| Directors' remuneration | £278,475 | £273,002 | — | — | |
| Highest paid director | £274,553 | £270,614 | £486,085 | +79.6% |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Return on capital employed | -1.6% | -0.9% | -11.1% | |
| Gearing (liabilities / total assets) | 4.5% | 9.8% | 0.4% | |
| Current ratio | 0.68x | 1.02x | — |
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.
Name history
Renamed 1 time since incorporation
- DISCOVER EXPLORATION LIMITED 2013-11-07 → present
- DISCOVER EXPLORATION PLC 2012-10-18 → 2013-11-07
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte Ireland LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“Accordingly, the directors consider that the financial statements should be prepared on a basis other than as a going concern.”
Group structure
- DISCOVER EXPLORATION LIMITED · parent
- Discover Exploration (UK) Limited 100%
- Discover Exploration B.V. 100%
- Discover Exploration Comoros B.V. 100%
- Hansa Hydrocarbons Limited 0%
- Bahari Resources Limited 100%
- Discover Exploration Gabon B.V. 100%
- Discover Exploration Canterbury 2 NZ BV 100%
- Discover Exploration Comoros BRL B.V. 100%
- Discover Exploration Canterbury NZ B.V. 100%
Significant events
- “On 06 October 2025, Discover disposed the entire share capital of Hansa to Tenaz Energy Europe B.V. ('Tenaz'), a subsidiary of TSX listed Tenaz Energy Corp. for total firm consideration of US$262.077 million and contingent consideration of up to US$60 million.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| NOLAN, Michael Henry, Mr. | Secretary | 2026-08-20 | — | — |
| BERGER, Alexander Ferdinand Diederik | Director | 2012-11-21 | Mar 1966 | Dutch |
| BLAHA, Frantisek Michael Josef | Director | 2012-10-18 | Aug 1954 | Dutch |
| MITCHELL, Heather Ann | Director | 2020-09-09 | Oct 1971 | British |
| NOLAN, Michael Henry | Director | 2012-10-18 | Feb 1962 | Irish |
| ULRICH, Jacob Shields | Director | 2021-03-30 | Feb 1953 | British |
| VAN POECKE, Martialis Quirinus Henricus | Director | 2012-11-21 | Feb 1960 | Dutch |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| WHELAN, Robert | Secretary | 2012-10-18 | 2026-08-20 |
| COBURN, Brooke Bowen | Director | 2017-12-06 | 2020-09-09 |
| CRAVEN, John Edward | Director | 2012-10-18 | 2022-11-24 |
| MARINO, Andrew | Director | 2013-12-13 | 2017-12-06 |
| SPINK, Patrick Clive | Director | 2012-11-21 | 2026-02-06 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 114 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-07-11 MA Memorandum articles
- 2025-07-07 RESOLUTIONS Resolution
- 2025-02-26 RESOLUTIONS Resolution
- 2024-12-09 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-30 | AA | accounts | Accounts with accounts type group | |
| 2026-08-20 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-08-20 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-02-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-29 | AA | accounts | Accounts with accounts type group | |
| 2025-07-11 | MA | incorporation | Memorandum articles | |
| 2025-07-07 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-07-07 | SH20 | capital | Legacy | |
| 2025-07-07 | CAP-SS | insolvency | Legacy | |
| 2025-07-07 | RESOLUTIONS | resolution | Resolution | |
| 2025-04-04 | SH01 | capital | Capital allotment shares | |
| 2025-04-04 | SH01 | capital | Capital allotment shares | |
| 2025-02-26 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-21 | SH01 | capital | Capital allotment shares | |
| 2024-12-09 | RESOLUTIONS | resolution | Resolution | |
| 2024-10-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-10-17 | SH01 | capital | Capital allotment shares | |
| 2024-09-10 | AA | accounts | Accounts with accounts type group | |
| 2024-07-11 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 6
- Officers appointed
- 1
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.