This stock looks like the most undervalued oil company on the stock exchange. >
Sefton Resources epic SER. It is currently trading at a price of 0.275p valueing the whole company at just 4M.

You might look at the market cap and assume that this company is just an explorer or a shell, but in fact Sefton is producing over 6000 barrels of oil per month with a monthly revenue of over $300k. It's recent work on it's Tapia oilfield exceeded expectations, meaning the company hit it's 200BOPD target 5 months early, and is now expecting resource and production estimates to be further upgraded. This is before it embarks on a steam-assisted programme early next year which
could see production rates multiplied 2-4 times! It is also looking at drilling further wells on the rich Tapia field in the light of the better than expected results.

So why is it only valued at 4M? The primary reason is lack of awareness of the stock, the sub-1p price puts many people off straight away, and a large overhang.

A year or so ago the company was put in financial dire straits by a
well blowout and had to undertake large discounted placings to get
itself back on track, which it has done with a vengeance. However,
some of these placing shares, which represent some 25% of the company
are being sold into the market, depressing the price so that despite the fact that the companies prospects have improved dramatically over
the past year, the price has dropped by nearly 60%.

This makes the company an absolute bargain at these rock-bottom prices. In 6 months time I expect this to be worth 3-5 times the current price. SERIOUSLY.

There is plenty of research to get your teeth into, the best place to start is the website :

www.seftonresources.com

There are 2 excellent articles on Sefton on the following website by Ian Mclelland (Jan/Feb 2006) - well worth a read to get up to speed on this company and it's prospects:

www.proactiveinvestors.com

SERIOUS BARGAIN PRICES!!

MJ

Absolutely...

666

Seriously considering topping up.

If I do, the family will have to do without xmas pressies this year, but what the hell!

Nice to see a mil buy from MM... Still a fat spread...

666

0.26/0.29 just missed the 0.28p BUGGER!

Got some just now, thankyou Mr MM!

why would anyone sell 500000 at .22 when yesterday sell got to .3 it bounceing around .3 most days people seem to be throwing money away.

It's that silly "overhang" seller again. He always sells below the bid price, blocks of 250k, 500k, 750k, 1M.

WINS are the MM on the bid catering for the ordinary punters, occasionally moving to the offer when the price is rising, to offload and make their profit.

But the overhang sells go to HOOD, who I believe they have a special arrangment to offload the shares - 10's of millions (but at a lower price). HOOD are constantly on the offer, selling the shares they pick up via the arrangement to ordinary punters (and directors of course).

And another 1M mm buy.

The reason is of course, WINS on the offer aren't getting any shares, as the bulk of the sells go to HOOD via the overhang seller.

This is gold dust : An update from Jeremy Delmar-Morgan courtesy of a poster on another site:


Who wants an update. JDM kindly called me back after parking his car on his mobile. Beforehand, copper came by so quickly said he would call back.

Anyway things are looking good, as per usual. 220 bopd on average (6500 per month - up slightly by the sounds of things).

At Ventura Basin sand was being sucked up through pipe and causing problems so a consultant has devised a new technique called gravel packing to prevent this.

Overhang about another 6 weeks but still negotiating with seller.

Various rns's will be released over the next few months regarding developments since certain decisions were made at various meetings during his trip.

JDM with Oilbarrel one day next week.

End of year results are going to be announced, hopefully, at the end of March. They are also chatting about changing year end date.

Monument discussions over land titles still proceeding.

Signing off by insurance companies on blow out is imminient and all parties are in agreement. Then they will sue drilling company and hope to get at least $200,000 costs back but nothing is ever certain.

JDM implied he is going to buy more shares as they are undervalued - especially under .3p.

Time for someone to reach into their pockets and put in an order or 20M or so?

MJ

It would be a record but hopefully Sefton should get more 'pro-active' news wise over the new year...

Agree with you next 3mth should be interesting...

Have a good weekend.

666

How many shares in the overhang?

<100M now?

If he said 6 weeks, that's 30 trading days, lets say average 2M per day = 60M overhang?

However he also said "various RNS's will be released over the next few months" which you would expect to increase volumes and hence erode the overhang at a faster rate. So lets say 100M tops?

I think next week could see some good rises.

Just a hunch.

mj - thats a good hunch especially as SERs sp always picks up at year end.

ready for lift off

looking good already. 1mil mm buy bery interesting

Good trading day again today, just need that bid to rise now, and we can pretty much say we are on a new uptrend.

Julian1976 - "looking good already. 1mil mm buy bery interesting" Obviously another ramper, 1mil buy is nothing for this share.

Katcenka - "ready for lift off" Another ramper, whats ready for lift off? Maybe your IQ!!