Will be adding more later today.

RAS
Well it's a good price hopefully we will get some news on the financing this month.

Down again. Didn't get the chance to add yesterday, which looks fortunate. Still intending to add very shortly but don't like the way this started plummeting just after I first bought in!

Directorate Change
Looks like the right man for the job.

Bruce, who is a lawyer by
training, has 30 years oil and gas experience, including most recently,
involvement in the development of coal bed methane projects in south eastern
Kansas and Oklahoma for a independent oil and gas company'.

Yes, looks positive to me. And it's good that Mr Thatchuk is still willing to advise the company.

News is a coming according to the dark side.

Back in the UK again :) I'll update the header as soon as I can remember how I created it in the first place :S

pth

ptholden
Welcome back looks like it could be an exciting week.

Driver,im holding my breath here!

cape
Don't do that you could pass out.

Driver,i just DID.

From the Dark side take it or leave it.


Good evening everyone

Here it is at last, the IWYK update.

I will be as brief as possible with this update and it will be an honest appraisal of the situation and to the best of my knowledge, as accurate as I can be in its content and timing. As mentioned earlier, due to the efforts of Gondola to disparage anything slightly positive on Sefton Resources, I will not be available for comment and I have little interest as to who believes what I have posted below and will not be drawn into argument. He is welcome to his opinions, however, that is all they are.

Please note whilst what I have posted on the odd occasion has been pretty accurate, my information is down to very quite difficult and constant information gathering from areas that so far I have found to be quite accurate. However, whilst I am confident in the accuracy, please do not use my information as a reason to buy shares. I am in no way qualified to advise you on that one lol! Now

Finance:

There are NO issues with financing other than negotiating the most favourable terms. Please do not be worried by certain people who post, in their ignorance, that there is a problem getting it. There is not. The fact is that Sefton are NOT looking for 10 million, they are looking for considerably less for the work they want to carry out and smaller loans (in terms of the low millions) are expensive. The finance will be put against the asset value of the company which will surprise many investors when it is fully valued. Sefton is, at this stage, very asset rich.

Rig:

During the period when we saw a surge in oil prices, whilst this may have been good for the sale of heavy oil, many small companies like Sefton experienced a problem with rig availability and cost. Everybody wanted them and the rig suppliers exploited the situation with extortionate hire charges. At present, there are plenty of rigs available and the price is good for Sefton.

Surface Equipment

Sefton have spent a considerable sum on upgrading the surface equipment to handle the oil flow that they are expecting to achieve and the steam assisted project, when it comes online in July, should DOUBLE present production in the areas where it will be implemented.
Work the figures out for yourself but I estimate an additional 300 barrels per day. I cant go into detail any further than that!

Regards the drilling permissions, California are very strict on environmental issues and there are numerous departments who have to be satisfied as to the impact from these. It can take months to get to the stage by where the go-aheads are signed off.

You will be pleased to know that Sefton are very well advanced on these issues and again, there should be no unexpected news here.

What I can be pretty sure about is that everything, including finance, rig and drilling permissions for all applications will be concluded mid to late April, so 6-7 weeks and at that stage there will be a considerable movement in the way Sefton are perceived by the market and a considerable uplift in the share price.

Regarding comment on the communication from the company, please allow some time for this to kick in, there is little to say at the moment but when things start to happen, there WILL be regular updates on drill results, oil flow, reserves and progress!

mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

capetown
Yes, mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm

But he has been reliable in the past we will see.

MMMMMMMMMMMMMMMMMM,as in a POSITIVE,i remember how quickly this shot up last time,and as a holder of rift which has doubled in a week,i am HOLDING onto my SER
GOOD LUCK

Well having read that post, I can't see anything in it that I haven't already picked up from the last few RNS's? They have told us about the number of permits, and from this you can infer the amount of money they will require. They told us about the changing rig situation, and the upgrades to surface equipment.

And the mid-late April timescale appears to be just his opinion, although I hope he's correct.

New broker Canaccord switched from bid to offer. I'm guessing they took that 100k, and now offering 5p for them.
Wow, they will make 500 - hope it's worth it for them?

Hmmm.. Now over 30% down on this, so not too pleased.

But you've got be able to take the knocks if you want a chance of huge returns, so sitting tight and strong and will look to buy more now if the offer dips below 5p.

RAS
Also sitting tight and 40% down it did drop to 4.2 a few months back but not for long I should have topped up then, it won't be long now IMO.

keep the faith people. I think sefton are heading in the right direction. If things in the middle east continue as they have been the price of american produced oil should increase nicely.

Not that I'm hoping things continue that way over there!