The British Oil and Cannel Co. Ltd was established to acquire the interests of an oil refinery at Saltney and a small crude oil works at Leeswood. In this respect if followed the model of the much larger Flintshire Oil & Cannel Co. Ltd, launched the previous year, which similarly owned a refinery at Saltney and a crude oil works at Leeswood.
A few months before the launch of British Oil and Cannel Co. Ltd in March 1865, another limited company, The Meadow Vale and Saltney Oil Refining Co. Ltd had been established with identical objectives to the British Oil & Cannel Co. Ltd and was presumably abandoned on formation of the new company. Edward Southam and John Hitchin were directors of both companies. It is interesting to note from the Surrey advertiser (see references, below) that much of the capital of the company was raised in the Dorking area,, presumably from associates of oil merchant G.L.Neighbour, a director of the company.
The short-lived company appears to have made little progress.