latest update on Sefton site........

http://www.seftonresources.com/assets/mid_operationsreport.asp

Nice one! Lets get it pasted:

Current Activities

Mid Year 2007 Operations Report

TEG USA PRODUCTION

Oil production at for TEG operations has averaged over 4,100 BO for the five months. June production numbers are yet to be computed and balanced , but appear to be approximately 3900 bbls, down just slightly due to necessary pump replacements. Production from the wells drilled in 2005 remains steady. Service rigs are now available within a few days of a request and allow a quick return to production times for wells needing pump, tubing and rod work. We anticipate this production trend to continue, which has supplied a consistent gross revenue stream of greater than $200,000 per month.



TAPIA CYCLIC STEAM PROJECT
TEG has just taken delivery of the steam generator that will be used to stimulate production at the Tapia Field. The Clayton Industries steam generator is rated at 14,290,000 btu/hr and is capable of steam-stimulating 1-2 well at a time. The unit was delivered 90% ready and final onsite assembly will begin shortly. The first wells to be steamed are located on the Yule lease, wells #7 & #10. A gas supply line from the Yule #8 well will be run to the steam unit on an adjacent well pad. Redundant 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. TEG anticipates steaming to begin in 30 to 60 days. 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.


Skid-mounted Steam Generator at Time of Delivery to the Yule #7 / # 10 Well Pad


TAPIA DRILLING PROGRAM

TEG has stayed in close contact with drilling contractors and is ready to move forward with the planned Tapia redevelopment drilling of the field, once financing is finalized for the project. Management continues to work with financing entities to maximize the project economics and value to the company. There are a number of rigs currently working in the area that are suitable for the project. Additionally, TEG is working with offset operators with similar plans in order to minimize rig mobilization and demobilization fees, which have grown considerably over the past two years. TEG has nine permits in-hand to drill and we expect to complete the project in phases as we interleaf it with the Tapia steaming operations.

EUREKA CANYON

TEG has completed analysis of the reconnaissance geochemical survey that was conduced over the 1,500 minerals lease acreage at Eureka Canyon. The data showed encouraging results in a number of places. We will now proceed with developing an infill/verification sampling in over the most promising areas and incorporate this 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.

Nice update. Very informative for Sefton?!

Nice one Mineman

JDM is starting to deliver, he has raised the game this year imho!

L2 1 v 4

All credit to Gray for noticing it!

I am disappointed on two points though.

1, I am not so sure I like the 'Management continues to work with financing entities to maximize the project economics and value to the company' as that does not, considering the report has only just been released, seem to suggest that it will be next week, which, in the AGM statement suggested.

Secondly, why the heck can't they release this to the market, not on the website. How do they expect a market reaction when the only people who look at the website are us and we all have enough bloomin shares!

Although yes, it is nice to see them updating promptly, they need to make new investors aware.

We are already at an almost all time low and marked down on good news and a new stance on communication!!!

I'm on the road for the next 4 hours so have a good day guys, hope this doesn't finish down at close!

Hi Mine Man,

It's a good update, very informative. Except the sentence you picked out about financing. I can only assume this was written some weeks ago, as suggested by the "we have just had delivery of the steamer" line ie the update is a little behind, but still very up-to-date by Sefton's website standards!

See that the update has had ZERO impact,i am begining to think this one is going to let us ALL down.

What sort of impact did you expect capetown?

It is purely information, not price-sensitive, hence why it is on the website only and not in an RNS.

These sort of updates will have a longer-term more subtle impact rather than a sudden rush of buying or a bidding up in price by the market makers.

They show that Sefton appears to be finally understanding their shareholders need for regular information updates.

The big impact will come when they announce 'Finance Package Obtained' - now 3 weeks into the 'matter of weeks not months' so maximum of 4-5 weeks to go.

I believe the MM's are really playing with this at the moment to play on uncertainty before the finance is completed. Despite the tick-down in the bid this morning the number of shares offered online has decreased to 150k.

I am very nervous of the fact that the sp is down again,with all the anticipation of good news,we are going nowhere fast!,I was not expecting the sp to go up,but certainly not down.,But take your point.

Seftons website can not contain any price sensitive info that has not been realised into the market, Sefton have shown to me that they are updating the website as and when they can, o.k. so the regulars are up to date with events but any new shareholder/s I am sure will be encouraged by a website that gets regular updates (all down to JDM I reckon) and I still feel 100% positive on SER more than at any time over the last 2 years...........the chairman's recent statement says a lot, let us be patient it is not If any more but when, and I bet that is soon!.................

OUTLOOK

The past year has been one of building facilities, negotiation and
administrative change. The current year has started and with the disposition of
TEG Canada, the previous litigation settled and the complete replacement and
updating of surface equipment at Tapia Canyon Field. With discussions well
advanced with Banking institutions and potential joint venture partners, we are
confident that we will be able to develop the business in the coming year and
maximise shareholder value.The Board would like to thank shareholders and staff
for your continued support and look forward to a rewarding 2007.



Lets look at some positive points.................

JDM took over as Non-executive Chairman of Sefton Resources this year (January 2007 )

1/ There has been a trading statement http://www.advfn.com/p.php?pid=nmona&cb=1183139965&article=19103109&symbol=L%5ESER issued in January ( this is down to JDM))

2/The website now gets updated, this also is down to JDM ( before it was neglected)

3/Results showing that Sefton is Profitable and would have shown a profit had it not been for upgrade work, which should have a pay-back this year and onwards

4/Diversification from oil.........CBM Acreage has been increased.....the board consider this to be a good opportunity for the future, with good returns hoped for (Sefton are thought to hold some of the best CBM acreage in Kansas! ) If you do not think you can pull it off, you DO not keep buying more when the funds could be used elsewhere

5/ On the oil side, Tapia surface facilities were upgraded and production has remained steady. ( Sefton own 100% of the Tapia field ) permits in place for 9 wells, why do this If you do not think you can raise the funds to drill them!

6/ At Eureka Canyon, the company states "A geochemical survey of our oil and gas bearing assets was encouraging! and follow up work is planned." (Sefton own 100% of the Eureka field this is a lighter oil than that found at Tapia ) why bother with all this expense If you can not follow through!

7/ The reduction in proven and unproven reserves from $74m to $64m could be seen as disappointing, but analysts must have differing methods of evaluating these assets otherwise just one analyst would be needed for every company, my point is it is still a lot of oil more than the present market cap of 6m........... PLUS no Value has been attributed to the CBM assets

Director share options taken up and paid ABOVE market price http://www.advfn.com/p.php?pid=nmona&cb=1183139965&article=21139837&symbol=L%5ESER


Now ask yourself..........why would the directors take up share options with a price around 20% higher than they could purchase at in the open market? ( If good news arrives they could exercise the options any time they want within the exercise period ) I see this as a statement saying that they are close to bringing the current issues to fruition and this is a way of trying to put that across to shareholders, otherwise they could simply buy in the market If price sensitive news was NOT immanent, that's my take on it anyway.

7/ Directors share holdings...........
Jeremy Delmar-Morgan 4,280,178 3.7%
M.A. Ashton 984,267 0.9 %
Gary Dillabaugh 3,431,120 3.0%
John James Ellerton 4,780,247 4.4%
Harry Barnum 380,955 0.03%
Norman Thachuk 712,667 0.6%

the directors have continually added shares as and when they could over the last 2 years.........check back through the RNS realises is that not confidence, would you keep buying If your company had no prospects?

8/ Most of the board, I THINK are wanting to retire, and the current mkt cap is, I am sure a LONG WAY OFF what they would like at this point in time, and that is a very good reason for the board NOT to screw-up this year, they have proven that they can survive without the issue of further shares, we have good solid cashflow, equipment has been repaired or replaced READY for increased production, I still feel that the directors could sell out at the right price! I do not feel that they will give it away.

DYOR and good luck.

Still negotiating on the finance front, I did say it would not happen.
What is happening in the world of credit?
More shorting here

Lovely blue sky at Tapia!

Nice picture of the steamer. It's all a positive step forward to me, waiting patiently am staying put

Who sold out at 4.5p!?

Come on here and explain your decision please.

Are those puffs of steam above the 'Boiler & Coil'? ;-)

SECRUOSER
Not me still accumulating.