SER has crap history though and a board that well need to be replaced for this company to pick up and gain some respect with investors.

explosive

You are half right.
SER's history has been blighted somewhat. However, the CAZA blowout was not of their making, settlement / compensation due very soon. Nor were the California fires and floods of their making. The way that the board dealt with those issues has caused loss of investor confidence.
Currently the board does not need to be replaced; what the board need to demonstrate is an ability and willingness to take the company forward. By which I mean, drilling of the additional wells in the Tapia Field, this is already planned; SER have piggy backed onto other producing companies in the area drilling plans, so will have to wait their turn; further map the Eureka Field to fully exploit any additional reserves; drill new wells in the Eureka Field to improve and enhance production; take forward the CBM prospects in East Kansas, the methane is there and due to existing wells / infrastructure, this area of the business is ripe for revenue production; fully map the East Kansas acreage in order to discover the possibility of an oil / gas play in addition to the CBM.

The performance of SER, or to be more accurate the historical lack of performance is rightly highlighted in the Hardman report as a likely reason why the SP is currently depressed. The board now have a sound footing on which to progress the company reputation, balance sheet and share price. If from what is a golden opportunity to do so, they fail, I will agree that the board need to be replaced. Until they do fail, I for one am happy to be invested in SER for the long term and if additional funds become available to top up further.

pth

A slightly abridged version of the Boards's Bios from the SER website. It is quite clear that the Board do have a wealth of experience in the Gas and Oil Industry. I hope they put it to good use!

Jim Ellerton Chairman and CEO

Mr. Ellerton is a geologist and one of the founders of Sefton Resources, which was formed in 1994. Mr. Ellerton has over 25 years experience in the development and evaluation of oil and gas prospects throughout the major basins of North America. He is responsible for business development, screening mergers and acquisitions, funding and shareholder relations. Prior to starting Sefton Resources, Jim was successful in the financing and development of smaller oil and gas companies.

Born and raised in England, Jim started his education in London and graduated from the University of Toronto with an Honors Bachelor of Science Degree in Geology.

Norm Thachuk Non-Executive Director

Norm Thachuk is a Non-Executive Director of Sefton with over 30 years in the oil and gas industry. His background covers diverse areas such as, developing exploration programs, implementing computer geological technology, and conducting petrophysical evaluations. He has spent the majority of his career in the exploration and production sector, initially with Shell in Canada, Turkey and Spain as a senior petroleum engineer.

Norm has been a consultant and vice president to Ranger Oil Limited and a consultant to Pan Canadian Petroleum. Prior to working at Ranger Oil, Norm was president of Atlantic Energy Corporation for 7 years. Norm graduated from the University of Toronto in 1960 with an Honors Bachelor of Science and Geological Engineering Degree.

Tony Ashton Non-Executive Director

Mr. Ashton has over 45 years in the Oil and Gas Industry. He began his career as a Geologist in 1958 (after emigrating from England to Canada), at Canada Southern Petroleum LTD, a public company. He held his first position as a junior geologist and by 1976, he earned the title of Chief Geologist.

After resigning from Canada Southern Petroleum LTD (1976), he formed Tup Resources LDT, a private Oil and Gas Company. Tup Resources LTD participated in oil and gas ventures and consulted to several junior oil and gas companies. Mr. Ashton also served as a director and officer of many of these companies.

In 1986, Mr. Ashton returned to Canada Southern Petroleum LTD as a consultant. He was a Director of the company from 1988-2001. By 1996, he became Chief Executive Officer of the company and President. In the year 2001, when he retired, Canada Southern Petroleum LTD was listed on the Toronto Stock Exchange in Canada and on NASDAQ in the USA.

Mr. Ashton was born in Glossop, Derbyshire, England and graduated with honors from Manchester University with a Bachelor of Science Degree in Geology.

Jeremy Delmar -Morgan Non-Executive Director

Mr. Delmar-Morgan joined the Board of Directors of Sefton in September 2004. He brings to the company a wealth of experience in the investment and brokerage community having been associated with Teather & Greenwood from 1979 until 2004. In 1982, he became a partner in Teather & Greenwood and in 1992 was appointed senior partner with the same firm. In 1998, when Teather & Greenwood became a public company, Mr. Delmar-Morgan became the CEO and Chairman of the Board. He held these positions until 2001 when he stepped down as CEO and Executive Chairman remaining as Non-executive Chairman until his retirement in April 2004.

Mr. Delmar-Morgan was born in Scotland in 1941, received an MA from Cambridge in 1963, and became a member of the Securities Institute in 1985.

Harry Barnum Director and U.S. Operations President

Harry is a Director of Sefton, and the President of TEG Oil & Gas, USA Inc, (a wholly owned subsidiary of Sefton), and is responsible for the day-to-day operations of the company's California assets. He has more than twenty years of industry experience from 6 years with Chevron through several independent firms to his last position with Windsor Energy Corporation, all in California. Harry has degrees (BA and MA) in Geology from the State University of New York at Buffalo (1980).

Robert "Bruce" Mackay BSc., JD Vice-President

Bruce is Vice-President of Sefton, and the President of TEG MidContinent, Inc, (a wholly owned subsidiary of Sefton), and is responsible for the day to day operations of the company's Kansas assets. Mr. Mackay is a lawyer who, after graduating from Oklahoma City University in 1977 with a law degree, has worked as a land manager and land consultant for the past 28 years for various companies including Flare Energy, Page Petroleum, K-N Energy, Cabot Oil & Gas, Ocean Energy, Whiting Petroleum, and most recently as Land Consultant to Dart Oil & Gas/Dart Cherokee Basin and their CBM project in Kansas.

Gary Dillabaugh Corporate Secretary

Gary joined Sefton Resources in May 2002, as an investor relations coordinator and was appointed Corporate Secretary in 2004. In addition, he is responsible for public relations in Britain, the United States, and Canada.

For 11 years, Gary Dillabaugh has been a managing partner of a successful dental practice in Denver. He has been associated as an investor, fundraiser, corporate executive and director of a number of oil and gas companies, both private and public for over 35 years.

Gary graduated with a BSc from the University of Victoria and a DMD from the University of British Columbia Dental School in 1972.

Well at least if Sefton takes a dive we can all demand free dental treatment from Gary as compensation. He might even be able to wire that rampers jaw shut!

rhino
:-)

RHINO NICE ONE!!!!!!!!!!!!!!!

PT when I say crap history I mean just that, not crap history which either was or wasn't SERs fault! SER wasn't judged on the fires or blowout but the measures in place to prevent these actions and the time its taken the company to recover from them. Could more have been done? The sp suggests yes which again has had a knock on effect to investor confidence.

I noticed Gary is also responsible for public relations, wonder how much time in the past 12 months hes dedicated to that role!

explosive

I am not disagreeing with you (entirely). The way in which SER performed historically is a matter of record, hence one of the reasons for the low SP. Not much they could do about the issues I have mentioned. Quite how they were to cope with the fires, floods and CAZA incompetence is beyond me. But for my money, the board deserve a chance to put things right, I believe they will. Time will tell.

pth

Well since I've been in SER 3 years now they haven't done too badly. Its always worth a look to flick through some of the posts on the original MRJ thread.

Blimey!!

Me thread had all but disappeared.Unfortunately not a great deal to report, except that the Results will be out this month and hopefully we will see both a maiden profit and more detailed plans for the next 12 months. Personally, I feel that the most exciting part of SER's plans may well be the CBM prospects.

Interesting times ahead.

pth

ptholden
Still holding
Apparently there is a Wright up in the latest Investors Chronicle.
IC conclusion is "High oil prices could break a record of years of losses. Speculative BUY" Price given in article is 7.25p

Hi Driver

Wise man (I think). I haven't seen the IC article, but I don't think it is just high oil prices that will see SER make their maiden profit. I do believe they have got their act together now with new storage facilities and the worked over wells which are all clearly playing their part. Once the City gets over the historical problems we should see some sustained growth in the SP.

pth

Showing a bit of 'buying' life today. Should start to see some interest as the run up to the Results. Personally, I am not too worried about the figures, although we should see that maiden profit, it's all about the operational update. I really hope the Board does not miss the opportunity to give their shareholders an update.

pth

Some snippets of buying again today and a tick up to boot.
2517

GEORGE
Yep a nice 13% that will do for starters.

Topped up on these again today the Hardman Report was suggesting 50p in old money so still a long way to go.

Driver, what was the ratio of the stock consolidation?

Might take some profit while the goings good, will hold 250K just to see.... Progress is very slow and other companies on the drive making moves..

Soul the ratio was 15-1

St
Sorry for the delay in reply yep 15-I as explosive says looking good this am up 18%