Cheers kuzemko, I don't think they reached 11.5p, it's marvellous really we are forever awaiting news from one of these tiddlers so we get psyched-up, and as the release of news approaches we expect the sp to only go in one direction, upwards, but time & time again the news is not good or indifferent and the sp slides and the whole process starts again. Infuriating, not to mention costly. Good luck all
2517

That depends on whether you are a long term serious investor or a short term punter!

:)

If you've got any spare money in your investment account now is the time to top up on these!

Looks like someone did?

Every oil investor would like to see their company develop a well that produces thousands of barrels per day. But in this era of high oil prices, small wells producing even just a few dozen barrels per day can be very profitable too. Often they are shallow, meaning to theyre quick to drill and very cheap. Payback can be just a few months. Given enough wells, the cash generated can soon become very significant.

Even more so when Oil is at $140

.

i expect these sp glitches even if they dissappoint - personally i am in long term with ser but also buy on dips and sell seperately, topped up again nicely yesterday - imho this will easily exceed 20p maybe even b4 year end - 50p + longer term

.

Sefton Resources Inc.
("Sefton" or the "Company")

Director Shareholding

The Company was informed on 17 June 2008 that Mr. Jeremy Delmar-Morgan, the Chairman of the Company, purchased the following common stock of no par value in the Company ("Common Stock"):

Date Common Stock purchased Price per Common Stock
13 June 2008 250,000 8p
16 June 2008 100,000 6.75p

Mr. Delmar-Morgan now holds 4,630,178 Common Stock in the Company, representing 3.99 per cent. of the total voting rights.

---------------------------------------

Looks like a statement of confidence from Mr Delmar-Morgan followed by a quick top-up at a bargain price!

Yes he should know when its time to buy.

:)

All seems to be going well and at good speed.


RNS Number : 7659X
Sefton Resources Inc
30 June 2008



PRESS RELEASE

June 30 2008

Sefton Resources, Inc. ('Sefton Resources' or the 'Company')

OPERATIONS UPDATE AND EQUITY DEALINGS


Sefton Resources, the AIM listed oil and gas production company with assets in California and Kansas, announces an update through its wholly owned subsidiary TEG Oil and Gas Inc. ('TEG') regarding the Tapia 2008 Q1 Drilling and Pilot Steam Programme, and equity transactions involving two directors and two loan note holders.


OPERATIONS UPDATE

.
Tapia Field - Cyclic Steaming Pilot Programme


The second well in the steam pilot, Yule #10, will be returned to production July 1, 2008, following a successful three week steam soak cycle. The first well, Yule #7 is producing at elevated temperatures 20˚ above that of untreated wells after two months of production, indicating good heat retention of the steam energy in the surrounding reservoir. Production on the Yule lease has been relatively steady despite having the Yule #10 off-line during its steam-soak period. This is mainly due to the increased productive rate of the earlier steaming of Yule #7.

Tapia Q1 2008 Wells

TEG is in the process of evaluating the production and reservoir information from the three Snow lease wells. The wells continue to produce with good oil cuts. The wells are currently being considered as the next cyclic steam candidates, given their proximity to the lease gas source well, Snow #1. TEG will continue with implementing different pump arrangements to maximize the productive rates from these wells. The installation of a larger pump in the Lackie #A-4 well has increased the production from the well by 30% to 35% based on daily metered well tests.

Water Production Normal in Oilfield Operations

In response to some shareholders enquiries regarding water production in Tapia oilfield operations Harry Barnum, managing director of TEG Oil & Gas comments:

'Water naturally occurs in virtually all oil reservoirs in varying percentages and thus is produced along with crude oil in the normal production stream from any given oil well. The exception to this may be new wells that produce from a new oil reservoir. Over the life of a well (and later in the productive life of an oil reservoir), the percentage of water gradually increases. The Tapia field has been producing oil (and water) for over 50 years and has a future productive life of an additional 40 years based on the most recent independent engineering reserve report conducted on the field. The average water cut (2007 annual data) for California District 2 oilfields (44 oilfields in the vicinity of Tapia) is 86%. Tapia produces very near to that average at approximately 90% and thus, is typical for the region. TEG has recently upgraded the water handling facilities at Tapia as reported earlier, in anticipation of new wells and steaming operations and manages the oil as part of the operation. All produced water is separated from the crude oil at the Tapia production facilities and is re-injected into the subsurface. This aids in maintaining subsurface pressures and sustains well productive rates'.

Eureka Canyon Field - Well Work

TEG has completed the clean outs and pump changes this week for wells in the Eureka Canyon Field. This is part of the normal cycle of well maintenance for this field. All wells capable of oil production are now returned to production. The periodic well clean outs remove silt and very fine sand that collects in the well over time and allow better exposure of the oil zones for production.


Chairman's comment


Commenting on the current situation, Chairman Jeremy Delmar-Morgan said:

'The year has started successfully. We continue to trade profitably and cash flow is running at expected levels. This is enabling us to push ahead with the steaming and drilling progammes outline in my last Chairman's statement. None of the problems that we have encountered in the pilot steaming programme were unusual; we believe that they can be resolved and provide excellent data for the ongoing programme'.

A better RNS than last time driver, the problems are being addressed and with the installation of a larger pump in the Lackie #A-4 well has increased the production from the well by 30% to 35% based on daily metered well tests.
From these results its possible other wells may also be fitted with larger pumps now

Yule #10, will be returned to production July 1, and with news on Lackie #A-4 so we could see increased production figures from here

The next couple of months will be interesting and with still high oil prices it will only add to our balance sheet

keith

I agree the dip in the sp from 10p looks well over done and is now a good time to buy or top up.

A nice update from H&Co

http://www.hardmanandco.com/Research/monthly/Hardmanandco_Monthly_JULY08.pdf

rel
Agree a good update all buys today on the back of the Hardman Report.


Hardman Report for July!

SEFTON RESOURCES
There was a months delay connecting the recently drilled wells on the Snow
lease caused by the local electricity service company.

This delay caused some operational issues with the new wells and a few
teething troubles necessitated remedial work on these new wells to optimise production. This work appears to be well in hand now along with an
acid stimulation programme designed to improve nearwell permeability. Looking
at the companys statement, the acid stimulation would likely have proved necessary anyway as the reservoir formation encountered by these stepout wells appears to be a tighter section than previously seen within the field closure.

The Lackie#A-4 well encountered a down-faulted section to the eastern edge of the field and is producing a higher water cut than was expected.

The cyclic steam program at Tapia is progressing well - with heat being retained in section and improvement seen in fluid production rates. Tuning production to find the most productive fluid balance will take a while but the results to date are encouraging with additional production from Yule#7 roughly offsetting the shut-in production from Yule#10 during soak.

Fine sands have caused a few issues in drawing fuel-gas for the generator but
nothing insurmountable and most probably to have been expected at this time.

The new Snow lease wells are currently being considered as the next cyclic steam candidates, given their proximity to the lease gas source well, Snow #1.

Additional drilling and steaming tests are being planned for later on during the year.

At Eureka Canyon routine pump maintenance has been carried out with clean outs
being planned for the operational Eureka Field wells with a follow-up to last years geochemical survey scheduled for the autumn.

Pilot drilling at Seftons CBM acreage in Kansas is also being scheduled for the autumn.

Overall, Sefton have released new operational figures indicating total oil production for May 2008 of 5,826 barrels. Given the current prices of the crudes produced Sefton appear to be on course to generate north of $USD6m of cash from operations this financial year.

Lets put that into perspective - operationally the company will be producing clear cash equivalent to around a third of the companys MCap before any further drilling work and despite the delays seen.

That directors are taking up their share options should be a clear market signal that management think the market has got this one wrong with regard to the recent market retracement.

Thanks relishing and driver for the report

sp down again though.....need fantastic news these days just to move sp up even a wee bit

;-0