Lets have some bad news then may be the sp will rise?

Driver,i really think this is a pile of crock,cant belive the sp has gone down,am out and cutting my losses in two weeks if the sp does not improve when the drilling and steaming starts!.

capetown
A bit late to get out this could rise sharply with the next Hardman Report and future drilling results, looking for 20p+ long term and a lot more if and when they develop the gas fields.

if we hit 20p+ i'm long gone. Been in these for ages now and am really starting to wonder what they have to do to get the market excited.

I'm well and truly baffled by the crap movement thus far.

rhino at last someone else feels the same abt this stock!,

Driver it COULD but has not as of yet.

There is a future for SER if only somebody could change the header and spell resources correctly!

Should that be with a capital R?

Once the 'headline' is created the author cannot change it, perhaps MAM can. I doubt that my 'mispelling' of Resources will have much impact on the future of SER.

pth

SEFTON RESOUCRES INC - UNDERVALUED OIL PRODUCER (SER)

I think this is what halifax was alluding to. this will definitely not affect the SP though.

I was a long time holder but got out at 7.4p because i couldn't see where this co is going. hope i am not wrong[invariably to my cost i usually am]

Bon chance to all

Alex

pth thanks perhaps SER's luck will change now!!

;)

...and maybe stop under perfroming too!!

Operation report updated on website
Tapia Drilling Program

TEG has signed a contract with Kenai Drilling, Inc. to drill two wells on the Hartje lease at Tapia. The Hartje lease is the site of some of Tapias best wells. Drilling is expected to commence in approximately three weeks time, although there is a strong possibility that the project could begin as early as ten days if the operator currently using the rig releases it early. The two wells themselves are programmed to take eight days each to drill and complete to a depth of 1,245 feet. As a result, TEG expects to be producing these wells by October 1st.

Tapia Cyclic Steam Project

TEG is preparing for the Pilot Steam Test consisting of cyclic steaming of two wells located on the Yule lease, wells #7 & #10. The test will provide a multiple streams of data for various aspects of the project moving forward. Initially, the running of the new 14 MMBTU steam generator will provide an air quality Source Test for verification to the LA Air Quality Management District that the equipment design can actually meet the air emissions standards required for a permanent Permit to Operate. It is actually designed to exceed these standards by >25%, so we expect no issues in that regard. Secondly, the pilot test will provide valuable gas reservoir volumetric data from the gas supply well, Yule #8. This will aid in economic and logistical planning for the full scale program. Thirdly, the pilot test will provide data for the steaming cycles themselves, such as steam injection rates and pressures for the Yule reservoir, as well as ultimate verification for the viability of the stimulation program, including production rate increases and cycle decline rates, and temperature profiles.

Currently, TEG is constructing the following: A gas supply line from the Yule #8 well will be run to the steam unit on an adjacent well pad; Installation of safety systems consisting of gas separators, high/low pressure and temperature sensors, automatic valves, and diverters will be incorporated into the surface facilities to ensure a safe operation; Installation of electrical service to supply the steam generators PLC (computer controls) and high pressure pumps. Upon completion of these, TEG will commence steaming of the two wells. Oil produced from steaming of the wells will move a significant amount of oil reserves into the Proved Producing Reserves category and will increase the value of the operations accordingly.

Eureka Canyon

TEG anticipates that increased cash flow from current Tapia projects will allow us to pursue opportunities at Eureka. TEG is anxious to move forward with the second phase of the geochemical mapping of exploratory areas at Eureka Canyon. This will consist of infill and verification sampling within the previous geochemical sampling grid in over the most promising areas earlier identified. The study will incorporate these into the geologic model for the area. Additional samples will be collected at adjacent oil producing areas to see if hydrocarbon fingerprints for these areas have similarity to the prospect areas. If a fingerprint match is identified, the data set can be fine tuned further to increase contrast between potentially productive and non-productive areas.

Additionally, TEG anticipates to drill one infill well within the current producing area within the coming months. The higher oil gravity (27 API) versus that at Tapia, makes infill drilling an attractive economic project.

4.63p? what the hell is going on?

Sefton living up to its sp reputation is whats going on sadley!!

Great operations update.

Producing from 2 new wells as soon as October 1st. Hats off to the management if they can pull that off. Amazing timescale.

A new well at Eureka in the next few months in the producing area and pressing ahead with surveying the extensive undeveloped acreage there. This shows they are also keen to develop Eureka quickly and aggressively.

Baffled by the share price movement. So much to look forward to over the next few months and people are selling? Nuts!

Not selling,holding but any increase will be a nice suprise.

US cuts interest rates by 0.50 good for SER

Just been poring over the well production data on the ca gov website to try and get an accurate idea of what we can expect the forthcoming drilling and steaming operations to do to the production figures.

The average output of the 3 wells drilled on the Hartje lease in early 2005 was 44bpd each (average over first 6 months). So using that as a guide we could expect to see around a 88bpd production increase from around 1st October (+2640bpm).

The 2 wells on the Yule lease that the steam programme is being initiated on currently produce around 17bpd each, so this will be knocked off total production during the steam injection and soak phases (several weeks each) (-1020bpm).

So using the June/July figures as a base (3550) I see production increasing to around 5150 next month and to between around 6150(+0%) and 7150(+100%) by end of November/December or so depending on the results of the steaming.

SEC is that your best or conservative estimate?

http://www.capmarkets.com/ViewFile.asp?ID1=76583&ID2=173639129&ssid=1&directory=12925&bm=0&filename=September_07_Monthly.pdf