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SEFTON RESOURCES INC - UNDERRATED OIL PRODUCER (SER)
ptholden
- 04 Aug 2006 19:53
Sefton Resources is an independent AIM quoted Oil and Gas company operating in the US. The companys principal current assets are two producing oilfields in California (Tapia Canyon Field and Eureka Canyon Field); it is also in the process of buying up prospective coal bed methane acreage (CBM) in Kansas.
Update from July 2007 AGM
Finance
I revealed in my annual statement that discussions were well advanced with
Banking institutions. The final phase of the agreement with a suitable bank
without complex and restrictive terms is now very near. This is weeks away
rather than months.
Oil
Oil production at Tapia has averaged 4,100 BO during the last five months. Which
is in line with last years levels. Once this finance is in place we will be able
to move ahead with drilling.
Drilling
We have stayed close to drilling contractors and we are ready to move forward
quickly when this finance is available.
Steam generation
The equipment is now in place at Tapia. Preparation time is needed to connect
the equipment and carry out the necessary trials required to get the main work
started. We anticipate this steaming will start in the next couple of months. If
successful a significant amount of oil resources will move into the Proven
Producing Reserves category.
Joint Ventures
Discussions continue with a number of interested parties to develop our Anderson
counties gas assets.
New finance team
A new CFO has been appointed with good knowledge and experience of the oil
industry. A new assistant to undertake all the daily needs has also been
appointed.
SWOT ANALYSIS
STRENGTHS:
Sefton has two oil fields, both producing. One is already profitable, and the other is breaking even. This should generate good cashflow for the company over the medium term.
Sefton owns 100% of both its major oil interests and is now demerging its non-controlled oil interests in order to concentrate on those where it has full control (Sefton has recently disposed of its Canadian assets for CDN450k cash).
Sefton is establishing a track record of using modern extraction technologies to improve the efficiency of its fields.
WEAKNESSES:
Sefton has suffered from a number of one-off factors. While these were out of the companys control the problems it has faced since 2002 have held back development and taken up management time. Investor disenchantment may account for the current low rating.
OPPORTUNITIES:
Sefton has acquired acreage for CBM (coal bed methane) in Kansas. CBM gas production is a thriving market and Sefton believes it has acquired the acreage at advantageous prices. While this is a longer term prospect it is an exciting one and could eventually eclipse the oil interests.
There are a number of other fields in the Ventura Basin and more generally in California as a whole that Sefton may look to target now its cash flows are stronger.
Eureka is a semi-exploration play which may contain further upside. This cannot yet be evaluated.
At this valuation the company may prove an attractive target for a larger player.
THREATS
Owing to its geographical location the company continues to be exposed to the threat of bush fires, canyon floods and geological interruption (earthquake risk). Sefton is taking steps to mitigate this risk by investing in Kansas and although Forest Basin area is susceptible to tornados - gas facilities have a minimal surface footprint.
LINKS:
Sefton Resources Web Site
Quarterly Update (Mar 08)
Operations Update Dated 14 January 2008
Hardman Report
Final Results - Year Ended 31 Dec 2006
2007 AGM & Update
In The News - Oil Barrel Dated 31 January 2007
Daily California Crude Oil Prices (MIDWAY SUNSET 13)
moonshine - 24 Jul 2007 17:42 - 801 of 2350
I am utterly disgusted by Yas0 and the way he has tried to manipulate people, all for his own gains. He has spent a year abusing, insulting and demoralising shareholders, in order to build a very large stake, probably in the region of 3m. He has continually stated 'when the facts change, change with them', when all this year, the facts have been changing. Now he has managed to get a large stake at everyone else's expense he has changed his tune to 'no further bear case, get in'. If I ever thought about stooping so low to make money, I hope some one would shoot me.
Peteark, well I won't go there.
Peteark, well I won't go there.
SECRUOSER
- 24 Jul 2007 17:43
- 802 of 2350
Mine Man,
Removed post and sent better version via email, but put it back now you've replied here so it didn't look like you were talking to yourself!
Yes, was looking at IHGP today actually, as I was expecting it to come back from suspension bullish but saw it was dropping. I haven't looked too closely but I think I read something about a recent large dilutative placing which may explain some of the selling?
Does look interesting though.
After my top-up in SER today I hardly have any money left now. I'll be taking profits on the way up from here but I intend to stay invested for a while all being well. I think this can reach 25p and more eventually.
Removed post and sent better version via email, but put it back now you've replied here so it didn't look like you were talking to yourself!
Yes, was looking at IHGP today actually, as I was expecting it to come back from suspension bullish but saw it was dropping. I haven't looked too closely but I think I read something about a recent large dilutative placing which may explain some of the selling?
Does look interesting though.
After my top-up in SER today I hardly have any money left now. I'll be taking profits on the way up from here but I intend to stay invested for a while all being well. I think this can reach 25p and more eventually.
SECRUOSER
- 24 Jul 2007 17:47
- 803 of 2350
moonshine,
I know, his brazenness is utterly unbelievable but looking back, it was the obvious explanation with hindsight.
Oh well at least we can look forward to him promoting the bull case with the same vigour and dedication he has been bashing the stock with for the last 18 months?
I know, his brazenness is utterly unbelievable but looking back, it was the obvious explanation with hindsight.
Oh well at least we can look forward to him promoting the bull case with the same vigour and dedication he has been bashing the stock with for the last 18 months?
moonshine - 24 Jul 2007 17:55 - 804 of 2350
That does not ease my discomfort, unfortunately, sec. I don't think he will be able to 'promote the bull case', nobody believes him, nobody trusts him. The bull case is there inspite of him.
NabCom - 24 Jul 2007 18:02 - 805 of 2350
I guess that is true Sec true but he has upset so many and people as yet dont seem to be taking much notice of his turn, prob most have him on filter by now.
All a bit depressing really.
All a bit depressing really.
ptholden
- 24 Jul 2007 18:09
- 806 of 2350
SO now the transfer of YasO and Peteark is complete. Spend months arguing with the pair on the other side and now loads of post discussing the pair on here. No-one is interested in those muppets on this thread, so if you want to continue talking about them, why not go back to ADVFN? Havign come here to talk about SER you are now all trashing the thread by talking about the stuff you came to escape from, how stupid is that?
pth
pth
Mine Man - 24 Jul 2007 18:10 - 807 of 2350
Hi Moon
It's strange, we have all managed to become a little attached to the atmosphere we had over there and now it almost feels as though there's been a death! I'll miss posting there but I know if Peteark maintains his unjustified and personal attacks I will just end up retalliating and I wont contribute to destroying what's left of the BB.
Yas0's manipulation of the situation has actually contributed to the SP remaining where it is imo, but there again, that was his plan by the looks of things. I wonder how many people sold or refrained from buying on his 'reports'?
Ah well, looks as though it is over for now. I do believe though that as soon as he sells at the level he has planned for exit, he will return to do the same all over again!
It's strange, we have all managed to become a little attached to the atmosphere we had over there and now it almost feels as though there's been a death! I'll miss posting there but I know if Peteark maintains his unjustified and personal attacks I will just end up retalliating and I wont contribute to destroying what's left of the BB.
Yas0's manipulation of the situation has actually contributed to the SP remaining where it is imo, but there again, that was his plan by the looks of things. I wonder how many people sold or refrained from buying on his 'reports'?
Ah well, looks as though it is over for now. I do believe though that as soon as he sells at the level he has planned for exit, he will return to do the same all over again!
Mine Man - 24 Jul 2007 18:28 - 808 of 2350
ffs ptholden, there's only ever about three posts a day here, hardly trashing the thread. Discussion on YASO is actually quite relevant and is taking place between posters here who have been subject to his attempts at deramping Sefton Resources, something that affects us all whichever BB we post on.
It would be easy to talk about something else, ie Sefton, if a few more people actually contributed here.
All I am interested in talking about if we get down to the nitty gritty is my holding in this company hitting the post 10p levels, something that in two years I have had every confidence they will easily achieve.
It is not so easy being called a ramper when discussing your investment positively leads to that accusation. I have posted or emailed the contents of every conversation I have had with JE or JDM on the other side and to be honest, I expected at least some of their promises to come true. The fact that until JDM took over, it appears all the information was pie in the sky, has done nothing to stop a certain few people using that to annhialate any confidence in the stock.
The BB's are for free speech, so please don't start dictating just what somebody may discuss.
For the record, I can promise you I will no longer discuss either of the two of them, I have cancelled my membership there as from the 31st.
So, back to Sefton :O)
It would be easy to talk about something else, ie Sefton, if a few more people actually contributed here.
All I am interested in talking about if we get down to the nitty gritty is my holding in this company hitting the post 10p levels, something that in two years I have had every confidence they will easily achieve.
It is not so easy being called a ramper when discussing your investment positively leads to that accusation. I have posted or emailed the contents of every conversation I have had with JE or JDM on the other side and to be honest, I expected at least some of their promises to come true. The fact that until JDM took over, it appears all the information was pie in the sky, has done nothing to stop a certain few people using that to annhialate any confidence in the stock.
The BB's are for free speech, so please don't start dictating just what somebody may discuss.
For the record, I can promise you I will no longer discuss either of the two of them, I have cancelled my membership there as from the 31st.
So, back to Sefton :O)
ptholden
- 24 Jul 2007 18:40
- 809 of 2350
I am not dictating anything Mine Man, but if you can't see the irony of discussing something you came here to get away from, well..............
You are correct re the quantity of posts here, but it is difficult to populate a thread when the company is doing bugger all for us to talk about. Hopefully, that will change now following the latest RNS and positive news will naturally attract more posts. What I am certain of is no-one will read this thread if all they get to read about is two dickheads who post on ADVFN.
Nuff said, as you say it's a BB, do as you feel fit.
pth
You are correct re the quantity of posts here, but it is difficult to populate a thread when the company is doing bugger all for us to talk about. Hopefully, that will change now following the latest RNS and positive news will naturally attract more posts. What I am certain of is no-one will read this thread if all they get to read about is two dickheads who post on ADVFN.
Nuff said, as you say it's a BB, do as you feel fit.
pth
moonshine - 24 Jul 2007 19:11 - 810 of 2350
MM, it was a great atmosphere, hopefully as the company progresses it will develop here? Enough of those two; onward and upward.
(I don't think it is very healthy, or probably good for the wealth, reading that crap/thread, though)
(I don't think it is very healthy, or probably good for the wealth, reading that crap/thread, though)
NabCom - 24 Jul 2007 19:12 - 811 of 2350
I think it might be of interest to holders when SERs biggest bear (costume) looks like he is about to turn into a relentless raging bull, he is no ordinary clap trap one line ramper.
He may be of little consequence for reasons stated but I have even been considering adding a few before he gets into gear.
Anyway, end of subject, will not mention him again.
He may be of little consequence for reasons stated but I have even been considering adding a few before he gets into gear.
Anyway, end of subject, will not mention him again.
driver
- 24 Jul 2007 21:30
- 812 of 2350
Had a bad day today 7 out of ten all down and more than 5% head in the sand time I think.
Mine Man - 24 Jul 2007 21:31 - 813 of 2350
Nab, a lot of people have offloaded over the past 6 months due to extreme negativity from various sources, constant let downs from the company with regards predicted dates for certain things to happen, ridiculous emails from Gary etc and the SP is at the same level now as when I bought in at .480 before consolidation! In fact, less!!!!!!!!!!!!!!!!!!!!!
Judging by your comment regarding a sudden change in sentiment by he who shall not be mentioned ever again, I would also think now would be the time to buy in, top up or whatever.
And I don't say mainly because of that, I reckon the news we are now in possession of will dictate a move forward of reasonable proportion as it is the first time in two years that an RNS has been released that actually shows some actual achieved advancement! The Hardman report I do not see as particularly incorrect or written by dreamers, I see it as an "if you get finance, this is what you can do" report. I think it was taken out of context when it was first released and the herd piled in before realising that getting the finance was not going to be done the following week. I certainly didn't expect a year to pass without anything announced to say they had it all in hand and I daresay many people who were piling in at 10p have been stuck with a 50% loss ever since or sold at a loss as the months went by, another reason for the steady decline in the SP.
I can't see any downside here now (short of them announcing finance talks have collapsed) because with that cash, we have 9 new wells and a helluva lot more oil!
Judging by your comment regarding a sudden change in sentiment by he who shall not be mentioned ever again, I would also think now would be the time to buy in, top up or whatever.
And I don't say mainly because of that, I reckon the news we are now in possession of will dictate a move forward of reasonable proportion as it is the first time in two years that an RNS has been released that actually shows some actual achieved advancement! The Hardman report I do not see as particularly incorrect or written by dreamers, I see it as an "if you get finance, this is what you can do" report. I think it was taken out of context when it was first released and the herd piled in before realising that getting the finance was not going to be done the following week. I certainly didn't expect a year to pass without anything announced to say they had it all in hand and I daresay many people who were piling in at 10p have been stuck with a 50% loss ever since or sold at a loss as the months went by, another reason for the steady decline in the SP.
I can't see any downside here now (short of them announcing finance talks have collapsed) because with that cash, we have 9 new wells and a helluva lot more oil!
NabCom - 25 Jul 2007 00:58 - 814 of 2350
MM
I sold a small amount on that spike and bought most of them back afterwards, just too soon obviously never expecting to be back here again, still, everything does seem to be falling into place now, hopefully.
I sold a small amount on that spike and bought most of them back afterwards, just too soon obviously never expecting to be back here again, still, everything does seem to be falling into place now, hopefully.
moonshine - 25 Jul 2007 07:48 - 815 of 2350
Morning all!
REDHILL - 25 Jul 2007 07:53 - 816 of 2350
Yes good morning.
Mine Man - 25 Jul 2007 08:34 - 817 of 2350
Morning Moon, Red! Do you both feel goooooooood! The air is FULL of positivity! Three buys to start the day and a finance RNS due any time soon (within the next few weeks)? Is that a bit like "tomorrow"? :O)
kkeith2000
- 25 Jul 2007 08:58
- 818 of 2350
Good morning all
It would be good to get the finance sorted and then start with the drilling. It's been a long time waiting for this
But i think someone pointed out a steady flow over the remainder of the year could see this one go to 25p to 30p hope so anyway
By the way is the steamer going to used on existing wells or could this be used say on the new wells when drilled
Thanks
It would be good to get the finance sorted and then start with the drilling. It's been a long time waiting for this
But i think someone pointed out a steady flow over the remainder of the year could see this one go to 25p to 30p hope so anyway
By the way is the steamer going to used on existing wells or could this be used say on the new wells when drilled
Thanks
moonshine - 25 Jul 2007 09:04 - 819 of 2350
Feel better today, MM. Hope they can sign that finance deal soon and get things cracking. Wonder how many rigs they could get at any one time? I seem to remember someone reporting that JE had said that the operator had 2 available. That would be nice, but things could have changed since then.
Mine Man - 25 Jul 2007 09:07 - 820 of 2350
JDM said rig availability was not an issue but I guess that can change. I would have thought that if they were confident of signing a finance deal, they would have already set the dates with the rig operators, which would explain his comment/confidence?
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