Crying shame when you're no where near break even. Still never say die till the fat lady sings!

I've been averaging down..i was only 0.5p away from breakeven before it dropped...lol

I've bought another 50k this morning. Sellers now will be kicking themselves in the near future I think - given the events on the horizon.

Its so tragic that the very prospects and hopes that caused people to buy in so vigorously 2-3-4 years ago are now finally happening or will likely happen very soon - just as many of those long-term holders are throwing in the towel!

http://www.seftonresources.com/investorrelations/financialstatements/SRConsFinancialStatement08.pdf

Just out of interest what levels have you guys set yourself as get outs? I'm confident the SP will head north soon but I can't quite decide if I should jump ship at 10p, 15p or 20p.

If I pick 20p the SP will never get there....

If I pick 15p the SP with hit 30p.....

and if I pick 10p then i'll be kicking myself when it goes higher.

what to do???

I think many would be happy with 5p at the moment rhino :)

But seriously I would think the best strategy is probably to aim to sell a portion at say 10p, some more at 15p, some more at 20p etc etc, then whatever happens you're quids in.

I bought some more yesterday and some more today. Thinking there is bound to be an update on or before the AGM day (next Wednesday), which, after all this time should really contain some tangible progress.. if not then what's the downside from 2.5p?

zilch!

Martin does the latest production figures show any improvement with the price of oil now increasing, while some o/g company's have seen a slight increase in s/p we are still routed to the bottom
Anything to keep our spirits up thanks

Published production figures are available here kkeith:

Last published month is April.

http://opi.consrv.ca.gov/opi/opi.dll/Search?UsrP_ID=100067199&FormStack=Main%2COperator&Opr__ID=100002209&Action=Get+Sums+&PriorState=Encoded%3DTrue

Seems they are managing to maintain around 6000bopm which should increase sharply when steaming is started.

I have 'heard' that they have already been steaming for at least 3-4 weeks but this has not been announced officially so could be just 'hot air'...

Thanks Martin the monthly figures looking better than last year and if they continue should beat last years production also look how much the gas has increased

Wasn't the AGM supposed to be today? Anyone heard anything?

No i have not heard anything martin have you
Strange no RNS did it go ahead
The bid up a little this morning

Heard vague comments that it was positive, but nothing else. Very strange there is no RNS and that nobody has posted about the AGM. Something weird going on that's for sure.

Thanks martin, is there nothing in the rules about an RNS after the AGM if only to say all resolution's are passed,, or did sefton throw the rule book out of the window lol
So much for keeping all shareholders informed, what the devil are they playing at

operations update overdue?

News figures out for June.

Poor old SER been missing out on oil minnow excitement.
2517

No news for some time doesn't reassure shareholders.

New RNS came out this morning......Interesting reading - looks like Sefton are lining things up for a decent bit of progress.

~~~~~~~~~~~~~~~~~~~~~~
SEFTON RESOURCES INC.
OPERATIONS UPDATE

Sefton Resources Inc, (Sefton), the AIM listed oil and gas production company with assets in California and Kansas, announces further advances in its planned development programmes for its two wholly owned subsidiaries, TEG Oil and Gas USA, Inc (TEG USA) and TEG MidContinent (TEG). These follow on from the last update on May 6, 2009.

TEG Oil & Gas USA

TEG USA Production and Revenue - TEG USA sold a total of 4381 bbl. of oil from its California oilfields during the month of June resulting in gross revenue of $272,957.66 for the month received in July, 2009. TEG USA received approximately $62.05/bbl and $65.90/bbl for the Tapia and Eureka crude, respectively, an increase of over $9/bbl as compared to the previous month. Trendline analysis on production since June, 2006 shows a steadily climbing average production for TEG USA oilfields. The trend reflects the successful oilfield redevelopment and initiation of the cyclic steam programme.

Tapia Oilfield - Cyclic Steaming Programme
TEG USA initiated the field-wide cyclic steam programme during the months of June and July, using propane as the fuel source. Current oil prices allow the flexible use of fuel in the well stimulation economics. The three steamed wells were returned to production by July month's end. The wells are producing oil at rates in excess of pre-steam levels. The steam generator is now being moved to the Yule Lease as TEG continues advancing the programme in a west to east progression across the field.

There are currently 15 wells in the Tapia Oil Field capable of being steamed field-wide. An additional 6 wells will be added to the programme following downhole mechanical upgrades that will allow them to be subjected to the higher temperatures and pressures associated with steaming. Plans are to incorporate this work into the second phase of steaming progression across the field. The second phase will also include the construction of gas, water and electrical supply branch lines to accommodate these additional wells. This construction can be accomplished over approximately a two month period, well in advance of these additional wells being ready.

Gas Supply - The Yule #9 well continues to produce small amounts of gas, however it is burdened by completion fluid that is impeding the steady flow of gas through the near wellbore rock formation and by the column of water in the well that it is not able to unload. TEG moved a pumping unit on to the well and will begin periodically pumping the water off in order to stimulate steady gas production. The pumping unit can also be later used when the well is re-completed for oil production in the deeper oil zone, after the utilization of the shallow gas for the steam programme.

As a backup to lease gas, TEG has recently signed contracts for both gas transmission and purchase through the Southern California Gas Company utility system. Metering and supply piping for this suply will be installed during the month of August and be available for TEG's use on or about September 1, 2009. This contract will supplement TEG's other sources of steam fuel at a steady price schedule and allow the steaming to progress without interruption due to fuel. It will also allow TEG to plan worst case economic forecasts with greater accuracy for this project.


Tapia Oilfield - New Well Planning
TEG is in the process of permitting new wells for the Tapia Oilfield. These include high angle wells on the Snow Lease and Yule Lease and a more conventional directional well planned for the Hartje Lease. We anticipate that the permitting will only take a few weeks to be approved by the State of California Division of Oil Gas & Geothermal Resources. Permitting through The US Bureau of Land Management and also the County of Los Angeles is expected to take three to four months.

Eureka Cayon Prospects
TEG is in the process of developing drilling prospect locations by taking the encouraging geochemical survey results and merging these with the surface geology at Eureka. The target completion for this work is fourth quarter 2009. Prospects will then be presented and evaluated for drilling.

TEG MIDCONTINENT

Anderson / Franklin Counties, Kansas Drilling Programme
Consultants working with the TEG staff prepared a completion programme for the Miller A2-1 well. TEG management has determined that completion of the well should precede the proposed construction of pipeline into the acquired Petrol gathering and disposal line and further should precede additional drilling. Following favorable results of testing, TEG will commence with the drilling of additional wells on the three permitted locations and concurrently initiate construction of the gas gathering pipeline system. TEG has contracted with a consulting engineer to oversee a well abandonment program on the Petrol acquired wells that have been determined to have no future value.

Leavenworth County, Kansas Project
TEG has negotiated and executed a "Letter of Intent" to purchase from HDP Inc., their inactive pipeline and gas gathering system, to include Right-of-way. TEG has initiated "due diligence" which has consisted of record checks in both Jefferson and Leavenworth Counties and physical inspection of line. A formal Purchase and Sale Agreement has been forwarded to HDP for review and comments. TEG is now working closely with the seller to cure title deficiencies and to formalize the transaction. Closure of this deal will add considerable value to TEG's Leavenworth acreage position.

The "Vanguard Pipeline" is located west and north of TEG's Leavenworth project, an area presently subject to "curtailed/seasonal gas sales. The pipeline will provide a gathering system for TEG's future drilling and will establish a basis for potential joint ventures in both exploration and gas gathering and transportation. Total Purchase price is $115,000.00.

During these "low gas price" times, we believe it is more cost effective to put necessary "infrastructure" in place in order to capitalize on gas price recoveries.

Concurrently with its activities in Leavenworth and Jefferson Counties, TEG commissioned a regional engineering study that concluded and supported TEG's premise that the area contains potential for oil and gas and that further development is warranted and that the area could support the gathering systems that TEG is pursuing.


SEFTON

Investor Relations
Although we have talked about such, we plan to make this a high priority this coming year.

Merger/Acquisitions
During these times of lower oil and gas pricings, we have established a set of economic parameters that will focus on acquisitions in our "core" areas - while we also look towards a long term view of merging compatible assets and personnel to achieve "critical size".

Sefton has established a list of criteria to guide our growth in regards to acquisitions and merger opportunities. It is our belief that during this plateau in oil and gas pricing, there is good opportunity to expand our portfolio to critical size and strengthen our core areas of operation and development. Sefton has looked at a number of such opportunities during 2009 and will actively continue this process in the coming months.

Interim Financials
We expect to publish our 6/30/09 interim financials in early September.
~~~~~~~~~~~~~~~~~~~~~~~~~~

I have been wrong before though!!!

Next week then for interims.
2517