DNO EXPLORATION UK LIMITED
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Cash
£10M
+389.9% highest in 3 filed years
Net assets
£27M
+57.1% highest in 3 filed years
Employees
—
Average over period
Profit before tax
£35M
+256.9% highest 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
The financial statements have been prepared on a basis other than that of going concern. As described in note 21, subsequent to the year end the Company disposed of its assets and liabilities and intends to cease trading activities. The disposal was completed in March 2026 and the net sale proceeds were distributed to the shareholder. As at the date of approval of these financial statements, the Company is dormant and has no assets or liabilities.
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 | — | £26,849,000 | £64,955,000 | +141.9% | |
| Operating profit | -£188,000 | -£18,892,000 | £36,070,000 | +290.9% | |
| Profit before tax | -£170,000 | -£22,413,000 | £35,164,000 | +256.9% | |
| Net profit | -£170,000 | £18,661,000 | £9,967,000 | -46.6% | |
| Cash | £248,000 | £2,067,000 | £10,126,000 | +389.9% | |
| Total assets less current liabilities | -£1,199,000 | £34,598,000 | £42,977,000 | +24.2% | |
| Net assets | -£1,199,000 | £17,462,000 | £27,429,000 | +57.1% | |
| Equity | — | £17,462,000 | £27,429,000 | +57.1% | |
| Average employees | 0 | 0 | — | — | |
| Wages | £0 | £0 | — | — | |
| Directors' remuneration | £2,100,000 | £1,500,000 | £2,800,000 | +86.7% |
Values shown as filed in the company's annual accounts. — 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 |
|---|---|---|---|---|
| Operating margin | — | -70.4% | 55.5% | |
| Net margin | — | 69.5% | 15.3% | |
| Return on capital employed | — | -54.6% | 83.9% | |
| Gearing (liabilities / total assets) | 579.6% | 79.5% | 49.1% | |
| Current ratio | 0.17x | 0.22x | 1.39x | |
| Interest cover | — | -5.26x | 13.17x |
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.
Name history
Renamed 1 time since incorporation
- DNO EXPLORATION UK LIMITED 2017-06-30 → present
- ORIGO EXPLORATION UK LIMITED 2014-09-19 → 2017-06-30
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PKF Littlejohn LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“The financial statements have been prepared on a basis other than that of going concern. As described in note 21, subsequent to the year end the Company disposed of its assets and liabilities and intends to cease trading activities. The disposal was completed in March 2026 and the net sale proceeds were distributed to the shareholder. As at the date of approval of these financial statements, the Company is dormant and has no assets or liabilities.”
Significant events
- “In March 2026 the Company affected a capital reduction of the full issued share capital and share premium and a total of GBP 31.8 million was credited to distributable reserves.”
- “Also in March 2026 the Company sold all its assets and liabilities to DNO North Sea (UK) Limited, a fellow subsidiary of DNO North Sea Limited. The sales consideration was GBP 28.8 million which was equal to the net book value of the net assets disposed of resulting in no profit or loss on disposal. Subsequent to this disposal, the sales proceeds were distributed to the parent entity by way of a dividend.”
- “DNO Exploration UK Limited will now be dormant and the Directors expect the Company to be liquidated within the next 12 months.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2014-09-19 | — | — |
| ENGEBRETSEN, Halvor | Director | 2025-06-19 | Jul 1968 | Norwegian |
| JOHANSEN, Birgitte Wendelbo | Director | 2025-12-05 | Oct 1976 | Norwegian |
| SPENCER, Christopher Thomas Hyde | Director | 2023-02-03 | Aug 1966 | English |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ARMOUR, Andrew Richard | Director | 2014-09-19 | 2020-09-03 |
| DALE, Bjørn | Director | 2017-06-28 | 2023-09-27 |
| FEMSTEINEVIK, Elisabeth Boehle | Director | 2024-01-15 | 2025-06-19 |
| GJERDE, Orjan | Director | 2015-12-01 | 2017-06-28 |
| GJERDE, Ørjan | Director | 2023-09-27 | 2024-01-15 |
| ILEBEKK, Svein | Director | 2014-09-19 | 2017-06-28 |
| SANDBORG, Haakon | Director | 2023-02-03 | 2025-12-05 |
| SULLIVAN, Timothy | Director | 2014-09-19 | 2017-10-16 |
| WHITELEY, Nicholas John Paul | Director | 2017-10-16 | 2023-02-03 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Dno North Sea Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-02-06 | Active |
| Dno Asa | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-02-09 | Ceased 2024-02-06 |
| Northstar Exploration As | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2018-02-09 |
Filing timeline
Last 20 of 66 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-22 | AA | accounts | Accounts with accounts type full | |
| 2026-03-20 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2026-03-20 | CAP-SS | insolvency | Legacy | |
| 2026-03-20 | SH20 | capital | Legacy | |
| 2026-03-20 | RESOLUTIONS | resolution | Resolution | |
| 2025-12-08 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-07-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-07-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-01 | AA | accounts | Accounts with accounts type full | |
| 2025-06-25 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-09-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-07-13 | AA | accounts | Accounts with accounts type full | |
| 2024-05-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-02-07 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-02-06 | PSC07 | persons-with-significant-control | Cessation of a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 14
- Capital events
- 2
- Officers appointed
- 1
- Officers resigned
- 1
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.