golden cross is when two major mda's cross, both of which being on an upward path ..... technically it is bullish whereas the reverse, a dead cross, is bearinsh

and would usually represent the 50dma rising up through the 200dma. Both averages should also be rising for it to be a true cross.

i agree with 50+200 though some here hold with 25+50 (i don't!)

Just to put this particular arguement to rest. This chart's MAs are 10, 50 & 200.
Both the 50 & 200 averages are rising.

Err, there you go.

Nice one, we can sit patiently and wait now then!

I see we have another 66,666 sell. I can't believe this and previous sells are down to separate holders. Seems more like one seller dripping stock into the market.

Golden Cross looks more like an iron cross to me, 2005 & 6 showed the same pattern for this time of year, will believe a re-rate when it happens.

Who's talking about a re-rating? Just looking forward to steady progress in the form of extracting additional oil from existing fields and CBM production rather than acquiring leases. If management can demonstrate such progress, the results will be reflected in the SP.

pth

I would say the 2 6,666 trades are of the same lot hence the 7p price, if you look over the month or so you will find there has been one or two more the same.

And another 66,666 (1M pre-consol.). I make that 8 over the last week or so.

chart looks very encouraging, though potential buyers may want to see if sp dips back to 25 dma, currently 6.80 and rising

Yes, and there is that lower trendline, drawn from the two rising lows in late March, which is currently at around the same level.

There's also an internal support line at 7p if you extend the two previous high points before the pennant.

From advfn

fleascool - 1 May'07 - 15:54 - 36261 of 36266


Hi everyone,

Here's a reply from GD regarding the recent increase in gas production.
Just had it through so not had a good chance to diges tit fully yet.




The manager of field operations in California has taken the time to give a lengthy explanation. As a sophisticated investor, I know you realize that we cannot routinely respond in depth to individual technical questions.
Always good to hear from you and thank you for your continued interest in Sefton Resources
With kind regards,
Gary



The gas reported monthly to the DOGGR is entirely solution gas. Solution gas is gas dissolved within the oil that comes out when the oil is produced due to the lowering of confining pressure on the oil in the subsurface reservoir to ambient pressures in the tanks at the surface. The volume of solution gas for Tapia oil is very low, i.e. it has a very low gas-oil ratio (GOR). Where many oil fields commonly have GORs of 500 to 1000 standard cubic feet of gas (scf) per stock tank barrel (STB) of oil, the Tapia GOR is somewhere between 20 and 50 (virtually nothing). Part of this is the age of the field, but most of it is due to the fact that it is heavy oil. To put it in a dollars perspective, the total volume of solution gas Tapia produces on a monthly basis in 2006 (100 to 130 Mcf) is worth about $600.00 to $800.00/ mo. on the open market - not enough to pay for any kind of gas sales infrastructure. There has been an increase in solution gas produced in the first three months of '07, however, even this increased solution gas volume is also not sufficient to run the steam generator for the field. I cannot offer you a complete explaination as of what caused the increase, but our field operator Grant Wade said it came after we cleaned out and changed pumps in the newer Hartje wells earlier this year, most noteably, the Harje #15. We do not meter gas at the wellhead, and have no way to verify this with exact figures, though.

Some of the incremental increase reported during 2006 was an aberration of the building of the Flare/Vapor Recovery System at Tapia at the beginning of the year and adding wells and tanks to this system over the first few months. All reported gas is gas that goes through the meter at the flare. Prior to flaring the gas, we kept the gas in solution as much as possible by holding back-pressure on the wells. The higher back-pressure hinders production by depressing the fluid column within the well and thereby slowing fluid entry to the wellbore. Besides the requirement of the LA Air Quality Mgmt. District (AQMD) to have this new vapor recovery system for our increased production rates, it was also in our best interest to take some of the back-pressure off the wells from a poduction-rate standpoint. We held the gas back-pressure on the wells prior to construction of the flare because without doing so we would have had to vent the gas to the atmosphere, which would put Tapia out of compliandce with AQMD rules.

The second and more voluminous source of gas at Tapia is from the Saugus Formation gas zone. That is the gas that caused the problem at Yule #6 and is the zone that is completed and was tested in the Yule #8 and Snow #1 wells. These wells tested at extrapolated flow rates of approximately 1500 Mcf/D @ 50 psi and 1380 Mcf/D @50 psi, respectively. As you can see, one day's gas production from either of these two wells would approximately equal the total volume of solution gas produced from the oil zone in the entire 2006 calendar year. What we do not know about the gas reservoir is the total volume of gas reserves and will they be sufficient to run the steam generator on the long term. The engineers feel that it is unlikely that there is enough gas to consider sale of the gas into a local pipline, however, we will be better able to determine these parameters when we use this gas for the Pilot Steam Program in the upcoming months.

Thanks for that John. My layman's interpretation of that is the Saugas gas zone is a positive development and whilst they don't know (or won't tell more likely) the volume of the reserve, it's sufficient to use. We must be due a nice string of news updates now.

Thanks john50 lots going on at the moment lets hope it all comes good

keith

More buys than sells (I believe the 100k@7.2 is a buy).

so we've all been sitting here hoping for good news for the last few weeks now. Does anyone know when it's actually coming out? Whats the bettimng it'll be on a Friday so the weekend gets in the way of a nice healthy rise in SP!?!

If we knew that rhino....some of us have been here a while but with results looming I would have thought we'd see something either before then or at 7am on the day.

That was a sudden dip on the bid there as I write.