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.

well somebody got robbed @ 4.5p

Hi moon you post on here too? seems like a good thread.

Hi gray, yeah, I'm all over the place :-)

Moon cut down on the booze, that should sort it! lol lol

Moon You could get a reputation as a loose woman with comments like that :0)