Meet the Frackers..

In East Kent there are four Petroleum Exploration and Development Licences (PEDL) block areas 249, 250, 251 and 252

These were awarded in July 2008 for a period of 6 years, jointly, on 50/50, basis to two companies:

1) Eden Energy (UK) Ltd (Company Number: 06252743) – The UK subsidiary of the Australian Stock Exchange listed company Eden Energy. In Oct 2011 Eden changed its name in the UK to Adamo Energy (UK) Ltd. It trading address is the same as Coastal’s. Adamo’s net worth was minus £1.8m as of June 2012. Eden has interests in 17 PEDL blocks.

And

2) Coastal Oil and Gas Ltd (company number: 03440732) is based in South Wales.

Both companies hold 7 PEDL licenses jointly in South Wales. An associated company of Coastal has PEDL 3 blocks in Somerset and nr Bristol plus an additional 4 in South Wales. Eden also holds some licenses in Wales on its own right.

All the planning applications in East Kent have been made by Coastal Oil & Gas.

Coastal Oil & Gas Ltd has net worth of minus £42.3k with total capital of £5k [Dec 2011 accounts]. To give you a comparative – Cuadrilla Resources the fracking company in Balcombe has a net worth of £17.4m [Million] with total capital of £17m [Million].

And it gets better … Coastal Oil & Gas Ltd is a subsidiary of Thistle Gas Ltd (Company Number: 03411863). Thistle has no assets and is non-trading. It in turn is a subsidiary of UK Onshore Gas Ltd (Company Number: 03040791) which in turn has no assets with a net worth of minus £1k. UK Onshore Gas also owns UK Methane Ltd (Company Number: 03452019) the flag of convenience used in Somerset (3 PEDL) and South Wales (4 PEDL) which has a net worth of £53.1k (Dec 2011). It also has a number of non-trading shells.

Coastal is controlled by Mr Gerwyn Llewellyn Williams with other members of his family.

In May 2013 Eden in Australia decided to sell all its UK PEDL interests to a new company Shale Energy PLC (Company Number: 08453915) for £10m including £750k cash and major share holding in the new company when would be floated on the UK Alternative Investment Market (AIM) stock market.

This deal fell through in August 2013 when Shale Energy failed to raise the £5m it needed for the floatation. The background to this was in part investor concern over the local opposition generated towards ‘fracking’, especially in Balcombe.

Latest news: 17th Sept 2013 : Eden have now done the deal with Shale Energy see  news