does anyone know anything about these guys?,there has been some buying and (a lot)of selling .i am trying to find something really really cheap to speculate without the fear of losing much if the worst happened.

thanks.
dexter.

Now's your chance explosive - 0.31 on offer!

Now 0.30! Only 37.5k available mind you :(

OK I've just placed an out of hours buy at best, 338,822 shares @ .29... So if it goes through in the morning you know its mine!! :-)..... My Griffin shares are nearly at there target also so maybe if the price stays low will be able to pick up another half mil (fingers crossed) shortly.. What this share needs is some major shareholders as currently there are none... Having said that with a market cap of under 3mil without a major investor were not on anyones watch list. Does anyone have info on director holdings?

Anyone also have a forecast or prediction for sp in next 12 months, would be pleased to hear your views?

Hi explosive, these are my price predictions. They are based on current plans for revenue expansion, and also rely on the overhang being cleared allowing this to reach a fair value based on a p/e ratio of 10. The figures using 5xturnover are very similar.

3 months - 0.6-0.8p
6 months - 0.8-1.2p
12 months - 1.6-2.4p
18 months - 3.2-4.8p

All - my buy at best was rejected, as the share price hasn't moved all day I can only come to the conclusion that by broker couldn't purchase the 338,822 shares I requested. I would definatly seam that volumes aren't currently on offer. Will speak to my broker in person tomorrow and try to buy again. If sucessful I'll advise on this thread tomorrow night.

mjr1234, your figures look great and I would love to see your 6-12 month prediction of 1.2p come true. I think that the p/e ratio of 10 is too much though. Seftons EPS diluted is -.10c, against a .51c share price (general FX converter used). I make current PE -5 only due to the fact that Sefton didn't make a profit on its last trading statement and drilled 5 new wells (seftons RNS dated 07/09).

With more expenditure planned through drilling and bringing SAD (Steam Assisted Drainage) into the equation I believe the P/E will remain low.

Having said all this I now look at your 5xturnover and the PEG which I may add am finding rather difficult to calculate.

EPS Growth???? Big question, anyone got any ideas or a figure!!!

We know that the growth potential of the share is massive, current high oil prices (set to rise further if the US have a good cold winter), low production costs, SAD maximising oil flow which should without further wells push the 200 bopd higher etc. And not forgetting the 1,000 acres of unexplored lease on the Eureka site!...

EPS still got me, have been typing in this grey box for ages now, and still no answer!!! At a very wild guess I'll do a prediction and go for 4 (may you all abuse me and curl up in fits of laughter).... Calculations please though!!

Anyway that would give me a PEG like a rocket of a staggering -1.25....

No doubt I'll re-look at this, I believe that the bottle has now got the better of me. I'll post though as I'd appreciate any calculations you may have.

mjr1234 - I'd be very interested to see your calculations and predictions especially regarding your p/e calculation. Also your x5 turnover figure, could you please justify as this would increase bopd to 1000 not counting methane possible future sales. If I am correct.....

Bull trapping but still a good buy in opp. @ 0.29. for 2nd time today.
DYOR

It's a very good buy in opp. At .29, this share is ridiculously cheap.

What do you mean by "Bull trapping" by the way?

MJ

MM spread movements etc, giving an impression that it's about to run then cutting back... No worries though, this one will definately run...

The last year has produced plenty of opps. for high % gains... this is just another one especially at this price... I'm looking forward to re-rating and production updates but equally happy to dip in and out on the waves... Plenty of profit to be made eh? :p

BTW - liked the Nov 2nd post you made... (Pre-edited one) never laughed so much in a long-time... Shame you had to edit it... was definately an award winner lol.

666

I agree re the future on this one. Not sure about dipping in and out, a very dangerous game with this one, and the spread rarely allows it.

Re: the edited post, yes I was pretty pissed off on that day!

MJ

No worries on dipping, got it down to a fine art now... only do it when I sense the MM & Bears are about to step in...

Shame these guy's aren't more pro-active on news updates though, especially as production appears to be well above initial target rates... 500 bpd touched according to their website. Either way, easy money...

666
PS: Rest assured, it won't be me selling 500k @ 0.25 lol

The question is, just who is selling these 500k's at 0.25p? They must be pretty desperate to get out? Could it be the last of their holdings?

MJ

Only logic I can see is it's someone who inherited them somehow or they need the money... Who ever it is, I'll buy them for 0.26 if they want to sell them...

Eitherway, it's not 'rocket science'... this one is a definite mutibagger...

666

Indeed. You could even call it a "no-brainer".

3-6 months time we will be laughing IMO. Could be even sooner as I've heard the company is in talks with the sellers to take the overhang off their hands.

MJ

Ultimately, all the 'nonsense' will give-way and it will rocket...

When it does, it's free and easy money for us... Like you say, a total 'no-brainer'...

666

MJ

0.28 up for grabs...

666

Yet another day of crap volumes being made available.

Explosive,

Sure you know this but try going for smaller blocks 100k - 250K at a time and avoid 'fill or kill' orders on amounts over this... Set a minimum buy though, to help avoid over paying fees...

A plus side is you can make the most out of any 'bull trapping' as you shouldn't affect the spread... Hence, you might be able to get a large order filled by combining two smaller ones = cancel of trade fees because of a better price on the second half...

Eitherway though, this ones a 'printing press' for easy money and the slight increase in fees will be more than compensated for... Especially at this price...

Might help...

666

666,

Very true that you've said.... Last time I tried to buy however the blocks weren't even 100K... Buying small would have meant 7-8 block bites....

Explosive,

Sounds a real pain... Not sure who your using for trades but I've found that an 'off-line' broker is best for trading in this one... The fact they have had to phone through to MM for trades each time has really helped with getting a 'value' price together with volume...

666

Well looks like someones scooped up a few million just now - offer up nearly 50%!?