Arkex Limited (04255000): administration
- Status
- Administration ended
- Administration began
- 2015-09-23
- Administrators
- Craig Anthony Lewis, Colin Peter Dempster, Samuel James Woodward
- Administrators' firm
- EY
- Incorporated
- 2001-07-19
- Location
- Birmingham
- Industry
- 72190 Other research and experimental development on natural sciences and engineering
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company is a provider of geophysical data services which are used in the exploration of potential oll, gas and mineral deposits The Company's primary business ts the collection and processing of data from survey areas around the globe through the use of Full Tensor Gravity Gradiometer ("FTG") machines This data is either collected for use by the Company or on behalf of clients The collected data Is then processed and interpreted by the Company's employees based at the UK head office
Where surveys are undertaken on behalf of a client, revenue is generated at the time of the survey Further revenue is generated when the data collected has been processed, interpreted (if required) and sent to the client
Where surveys are not undertaken on behalf of a specific client, the data is processed and added to the Company's data library The data library is available through FieldBank, a joint venture with the British Geological Survey ("BGS") Revenue is generated when this data Is downloaded by a third party
Administrators' statement of proposals (2015-11-17) · Companies House register