Why would SER have a report written up about there company and give it a valuation

Teton have made an offer but was turned down according to the AGM

Read notes here, a short snippet taken from someone who went to the AGM read the last Paragraph

English Bigblls - 8 May'06 - 19:01 - 3 of 15471

Notes from the AGM
------------------------------

Production:
- All wells back online, current production about 180bpd
- surface equipment upgraded by adding more tanks which cost $40,000 each. They now have the capacity for a lot more production (no exact rates given)
- next step is to link up a pipeline to Tapia which will cost around $400,000 but should remove the need for any more surface tanks and allow much higher increases in production

Current trading:
- Profitable and cash-flow positive
- Weren't intending to issue a trading statement before the interims but after several people asked for one it looks like they may be going to do one.
- Interims will be out end of September / early October

Funding:
- Looking at debt financing first, banks are coming to them, someone offered them $10M a while ago but consider that too much at this time.
- Possibly going to get a JV partner later whereby an other company (maybe Teton, or other similar co's) will take a % of Tapia for X million and pay their way.
- Don't expect any institutions to buy in until the interims

- Karl Arleth had to leave because his company (Teton) made an offer for the company but they turned him down.

Now read this report, it has not been published as yet, Why??? has the company asked to have it valued for sales purposes... does sound that way to me, also there has been a lot of activity in the shares of late, before it was a dead dog.. stinks of a take over

http://www.hardmanandco.com/Research/Sefton_June_2006.pdf

I'm sure your aware that any reasonable offer for the company would be put to the shareholders for vote. If you agree then the chairman would be very stupid to make a statement saying or even implying that offers for the company wouldn't be considered. Lets face facts here, should a decent offer be made then of course SER would be sold. How much Teton Energy Corporation have to offer is another mater. If you read the Hardman report which suggests the current sp is very cheap I'd imagine that offers of 1.6 or less would be automatically rejected by the board. Finally on the other hand Teton would do well on their own sp if the markets gets wind and believes an aquisition is coming!!

Like i said, if the company is not for sale why mention the offer in the first place at the AGM

you obviously not read the thread properly, and not read the hardman report and the hint at the agm of "we have had an offer for the company and turned it down", he didnt say "We had an offer for the company and we are not interested" if the SER directors were not interested at all why bother mentioning it at the AGM

thats very important to note

taken from another thread

Re: Takeover afoot
opthalmist


The True Jedi - you did not go to the AGM either - you have picked up on a few sentences from what other people have said ie me.

But yes, you're correct - JE definitely did say Karl Arleth CEO of Teton had to leave his post at Sefton because he (as CEO of Teton) made an offer for the company, which they turned down as they considered it "ridiculously low" (his words).

if there was ever a time to buy today is it, USA stocks will push is north this afternoon

Buy or JV Chz1598 9
There will be an announcement either before or on consolidation day, I have confirmation of that, whether the doubting Thomas's believe that or not. And this is not price sensitive as I have only an aproximate date and no details. However, logically it can only be good news, either take over offer confirmation or JV. If a take-over, the price will have to be in relation to the Hardman report, which regardless what some have tried to imply, that Sefton commissioned it so it was worded as they wanted, is a totally independent report based on research by Hardman. The recent Chaco Resources Hardman Report proves independence, they hardly did much to help the sgare price there!!!

If a JV, the price will also begin heading seriously North as this will be the start of CBM recovery which Hardman report could eclipse the oil revenue.

When we see a NAV of 3.4 without CBM, I can only guess what it will be if Sefton remain in control of the company and start producing CBM. They are in an area considered one of the most prolific for this gas and would, with the cash/equipment from a JV, be pumping to consumers very quickly as everything is already in place ready for the delivery.

Speculation about the SP being held back does have its merits. There's no doubt that the company is either absolutely incompetent with regards to market reaction to news or are purposely not promoting themselves for other reasons.

When you think that the Hardman report was only discovered because a few investors were lucky enough to get emailed, that the AGM statement had no update, that the house broker is doing nothing to help the SP even though it is aware of the turnaround, then logic dictates the company do not want the SP to move too far.

Why? Well, there can only be a few reasons other than they are all going senile. Management buy-out? Unlikely, no need for the Hardman Report, they could have done that at .300, and we already know that the board are getting on in years and looking to retire.

A joint venture or sale would require a deal agreed at a set price and this WOULD mean ensuring that this was not exceeded at the time of agreement. If a deal was agreed at 2p for example and we rocketed on news, it would be likely we would exceed the offer, which would not be acceptable to shareholders to sell for less.

Expect a major, share-price moving announcement at or around the consolidation day!

good afternoon potatohead
At the moment while the bid dropped the offer has not and quite a large spread could it be a large buy or sell

spoke too soon on the offer , but like your post potatohead piece by piece the jigsaw is coming together

thanks Keith

have you noted also we get sell offs in the morning and then someone buys it all up in the afternoon, clearly its to do with the USA, it has been like that for a couple of weeks now.. Teton def buying up stock on the cheap

seymore pierce, mergers and aquisistions

They are the house broker i think so they would be one of the first in the know maybe to start advising their clients

Keith

I am going to give SP a call, and fish

and three large buys at close..

Hoods are holding 28mil shares as of today

wont take long for those to be eaten up

Ok thanks for that

keith

Well today is was terrible.. war having an impact on the SP is not good, what is even more stupid is SER are nowhere near the war zone, neither are some others and they all went down and oil prices went up.. are the mm's pulling our legs or what, if oil goes up surely so does the value of the company that has oil..

MM manipulation has to stop on the aim... some are way overdone.

I still say this is a stinking buy with a potential 1000% return.. someone is def soaking up the sells from the moring in the afternoon, my theory appears to be proven as I have been correct every day so far..

good luck seftoners

I am amazed nobody has picked up on this except 3 of us.

I am with the three on you. for a company to considate 15:1 questions straight away a take over bid, this looks interesting!

I think the real let down thou, is not one share magazine has done a tip on these

Think about it why would a share mag tip a share before the total number of shares reduce 15 fold form about 1.4 billion to 93million it wouldn't not make sence? have i worked this out right? after consoldation you bet a share mag will tip it to get the share price going as less shares but at a higher/confident price not 0.6p

Mine Man - 19 Jul'06 - 09:21 - 15987 of 15988


Interesting bit about Teton's assets, they are concentrating heavily on the Piceance Basin, I don't think they will be getting anything out too quick there, so it may well be that an additional and rapidly obtained income to ensure that 50milion dollars is put to good use would be a consideration.

02-10-01 Few outside of Colorado have heard of it. Even fewer can pronounce its name. Workers toil on the Nabors 909 gas-drilling rig 1 mile north of Interstate 70 in the Piceance Basin. The basin contains buried gas in a quantity so vast that it defies imagination. Yet Colorado's Piceance Basin is one of the nation's biggest reservoirs of natural gas. One day, it may become the nation's largest gas supplier, if producers can find economical ways to unlock the basin's captive treasure.
It's pronounced PEE-awnce, and its public profile is low compared with that of other large gas discoveries. The media lavish attention on some of the Rockies' major coal-bed methane plays, making household names out of Wyoming's Powder River Basin and the San Juan Basin in southwest Colorado. But the Piceance in western Colorado is bigger -- much bigger -- than any other gas discovery in the Rocky Mountain region.

Southern Union Gas drilled the basin's first producing well in 1955. But development was slow as geologists struggled to draw gas from the low-porosity rock that characterizes the Piceance. Still, its buried gas is a quantity so vast that it defies imagination.
Give it a try, anyway. Imagine a space the size of the Pepsi Centre, filled with natural gas. Now multiply it 5 mm times. That's just a conservative estimate. Other credible professionals say the Piceance's total gas resource could be 10 times greater.
"It's very big," said Ken Wonstolen, senior vice president of the Colorado Oil and Gas Association. "And it will become a bigger and bigger player as time goes on."
The US Potential Gas Committee, a prestigious academic- and industry-led group based at the Colorado School of Mines, rates the Piceance Basin's potential resources at 31 tcf, including the Uinta branch of the basin that extends into eastern Utah. By comparison, the committee estimates that the Powder River Basin's coalfields have 24 tcf of methane gas trapped within their seams. San Juan Basin's coal-bed methane resources are rated at 10 tcf. US consumption is about 22 tcf each year.

The 6,000-square-mile Piceance Basin straddles the Colorado River and Interstate 70 in Garfield and Mesa counties, with portions extending northward into Rio Blanco County and south into Gunnison and Delta counties. Its name comes from an Indian dialect, translated as "tall grass." Consider the basin in consumption terms. Colorado residents and businesses consume about 350 bn cf of natural gas per year. The Piceance, using the conservative estimate from the Potential Gas Committee, could supply the state for almost a century.
"The Piceance could end up being the biggest natural gas field in North America," said Fred Julander, owner of Denver-based Julander Energy and a long-time observer of Colorado's natural-gas sector. Julander estimates the basin's total gas accumulation could be as much as 100 tcf -- enough to supply Colorado's needs for 280 years at current consumption rates.
"It's a world-class project, no doubt about it," said Ted Brown, director of Williams Energy's Piceance Basin Asset Team, the largest producer in the basin. The rub, however, is that not all of the supply can be recovered.

As with petroleum fields, some of the oil and gas can be produced easily, some with difficulty at higher costs, and some that probably never will be tapped because new energy resources will make fossil fuels obsolete. Natural gas costs will drive the Piceance Basin's ultimate stature in the gas industry.
So far, low gas prices have stunted development. Drilling increased in late 2000 and early this year when prices briefly spiked at $ 10 per thousand cf. Now, slack demand and prospects of a protracted economic recession have pushed gas prices back to about $ 2 -- a marginal level at which some producers can make money in the Piceance while others will be less aggressive in new drilling.
Experts see its potential developing more fully in coming years as Americans consume more natural gas, especially to fuel turbines for generation ofelectricity. Technological advances in exploration and production should make extraction easier.

The Piceance has had its brushes with fame, but energy production never took off. The US government exploded nuclear bombs 1 mile underground there in 1969 and 1973 in an attempt to shake loose locked-up natural gas. However, the ill-fated efforts at Rulison and Rio Blanco yielded nothing but a small quantity of radioactive gas.
The plan was part of the federal government's "Project Ploughshare," designed to use up much of its aging nuclear arsenal to demonstrate peaceful uses for atomic explosions. The first explosion at Rulison was three times more powerful than the atomic bomb that devastated Hiroshima. The second at Rio Blanco was seven times stronger.
Opponents were led by Dick Lamm, a young environmental attorney who later became Colorado's governor. They feared the explosions would crack the Earth's surface, lethally contaminate the nearby Colorado River and send deadly radioactive clouds over the Front Range.
Proponents imagined a powerful new technique for stimulating natural gas production. In the end, neither was right. The explosions occurred without the Earth cracking, but public opposition and poor results brought an end to the experiments.

Earlier efforts fell short In the early 1980s, the Piceance Basin was the site of a major effort to produce oil from enormous quantities of petroleum-rich shale that impregnates the Book Cliffs geologic formation. But just as the oil-shale plan started to develop, energy prices fell and the project collapsed, literally overnight.
On May 2, 1982, which came to be known in the Grand Valley as "Black Sunday," Exxon abruptly announced it was shutting down its $ 5 bn Colony Oil Shale Project, putting more than 2,000 oil-shale workers and support people out of their jobs, and depressing the western Colorado economy for years.
Exxon's departure became an entree for Denver-based Barrett Resources. Bill Barrett acquired most of the mineral leases from Exxon and other shale developers, then drilled his first gas well in 1984.
Barrett's geologists discovered that the gas was trapped in "tight sands," an industry term describing rock formations that are less porous than those in conventional gas fields. Producers often must fracture the tight rocks by pumping fluids and minerals underground at high pressure.
"The public hears a lot about the Powder River Basin because it's gas from coal and it's fairly easy to get out of the ground," said John Curtis, a School of Mines professor and executive director of the Potential Gas Committee. "But with tight sands in the Piceance, producing gas is tougher."

Completing a well in the Piceance Basin can cost up to $ 1.2 mm, compared with coal-bed methane wells that are easy to drill and can cost as little as $ 80,000. Despite the high costs, Barrett Resources, now known as Williams Energy Services after a merger two months ago, has drilled 500 wells, producing and selling 160 mm cfpd of gas.
Williams is the most active producer in the Piceance. A handful of others, including Tom Brown, Alberta Energy, Mesa Hydrocarbons, ExxonMobil and El Paso/Coastal, have a smaller presence. Williams is well suited to working the Piceance because the company has pipelines and gas-processing plants that serve the area. That keeps its costs down and allows it to explore and produce even when gas prices fall to levels that are uneconomical for other firms.
Half of Williams' gas is shipped outside of Colorado; much of the remainder is purchased by Xcel Energy for Colorado customers. Barrett's efforts have produced controversy as well as natural gas.

Residential and environmental groups objected last year when Barrett sought state permission to place wells on every 20 acres instead of its previously approved 40-acre spacing. The Colorado Oil and Gas Conservation Commission granted Barrett 20-acre spacing on some parcels but ordered that on other holdings, the firm use directional drilling from existing well pads to minimize surface land disturbance.
Williams plans to expand its Piceance Basin operations as long as natural gas prices remain at profitable levels. "The Piceance is going to become very well recognized," said Brown of Williams. "As long as prices hold, you have the potential for drilling to go on for many, many years."

Teton Energy Shelf Registration Statements Declared Effective by the SEC
DENVER, April 3 /PRNewswire-FirstCall/ -- Teton Energy Corporation (Amex: TEC) ("Teton" or the "Company") reported today that its universal shelf registration statement on Form S-3 (File No. 333-131451) and its acquisition shelf registration statement on Form S-4 (File No. 333-131450), were declared effective by the Securities and Exchange Commission ("SEC") on March 31, 2006.

(Logo: http://www.newscom.com/cgi-bin/prnh/20051007/LAF054LOGO )

The universal shelf on Form S-3 now permits, but does not obligate, Teton to sell, in one or more public offerings, shares of newly issued common stock, shares of newly issued preferred stock, warrants, or debt securities, or any combination of such securities, for proceeds in an aggregate amount of up to $50 million.

The acquisition shelf registration statement on Form S-4 permits Teton to issue up to $50 million of its common stock and warrants in one or more acquisition transactions that the Company may make from time to time. These transactions may include the acquisition of assets, businesses, or securities, whether by purchase, merger, or any other form of business combination.

The Company stated that it has no immediate plans, commitments or agreements to offer any securities pursuant to either registration statement at this time, but believes the shelf provides flexibility to quickly respond to opportunities in the future. The terms of any future offerings would be established at the time of the offerings and described in a prospectus supplement filed with the SEC. The Company expects to use all or portions of these shelf filings to make opportunistic acquisitions that will have a positive and accretive value increase on its existing assets. The Company expects to target, among other things, resource plays similar to its existing Piceance and DJ Basin projects, as well as divestments of assets from other companies, private company acquisitions, and public company acquisitions.