Sefton Resources Share Discussion Threads

[redhill] 31/1/2008 07:45

MT

If they haven't they haven't.There is very little you or i can do about it.What i am sure is that they want it done as quickly as we do as they have a lot at stake as JE just pointed out.

[mickey take] 31/1/2008 07:36

Red- my point is I don't believe they have made any progress on the steaming.

Your next update will read – We are still progressing the steaming

Do you consider that an update and or progress?

[redhill] 31/1/2008 07:26

Quarterly reports with monthly updates sugest we shall receive all the information we need on a regular basis.

[mickey take] 31/1/2008 07:03

Flea- Thanks for the update, I am very interested in the progress if any on the steaming however from your comments with JE I am even more confused.

The official line from the company is they are progressing with the use of propane.

We have been informed that they are waiting a part.

Did he give you any indication if......

a- Do they have a propane bullet on site?

b- Has the said part arrived?

c- Have they prepaid and or laid the piping system and info structure for the propane hook-up?

I understand that you may not be able to answer or indeed he may have refused to answer these questions.

Thanks
MT

One last comment on this statement.

"The reason that they didn't know about the issues with the Yule well providing gas was that it shouldn't have been an issue. Apparently the previous owner did a couple of odd things to the well, he didn't go into too much detail"

In character with my replies on such statements the above is Bullsh!t!!!!

My reasons and explanations on this have been previously aired.

[yas0] 30/1/2008 23:37

The markets are extremely jittery, and any bad news is seeing even good companies getting whacked. Smallcaps appear particularly vulnerable at the moment.

Moreover, those companies saddled with debt and poor cashflow are at being sold mercilessly. Let's hope for the sake of bulls Sefton are able to generate sufficient cashflow.

[fernygrade] 30/1/2008 22:51

Liverpool did not get hammered! but they certainly got nailed
f

[the matador] 30/1/2008 22:42

So many posts in so few minutes, the man is quite obviously insane.

Nobody reading this thread now will take any notice of his balderdash, he would be seen to be blatantly bashing the stock, not providing a balanced view.

By continually posting like he does, he has actually discredited himself as a contributor to any conversation here.

I do wish he would seek help though, it is not nice seeing somebody have a breakdown, especially one who could offer so much if he were sane.

[redhill] 30/1/2008 22:12

Your getting very boring now Yas0.

[yas0] 30/1/2008 22:04

Let me guess, you have been reading these threads for two years but have only decided to post now.lol

Incidentally, are you still stating that Matador and minerman are two different sources.lol

[yas0] 30/1/2008 22:03

A new pseudonym minerman?

[suprstud] 30/1/2008 22:03

yas0 >>>>>>> nutter

[yas0] 30/1/2008 21:59

New readers can take comfort from the fact that the gracious fellow shall expose any inconsitencies as they arise. Such a gracious fellow he is.

[yas0] 30/1/2008 21:59

Dear Readers,

If fleabag spoke to JE, and so too claimed Unimog and Iaing, how is it that the latter two gave an entirely different account for steaming.

Now come on bulls, let us have an explanation.

I refer to posts 10578 and 10579 (one of which has since been withdrawn but I have a copy)

[yas0] 30/1/2008 21:58

So if minerman was aware that in previous years it was not possible for these things to be implemented, why was he saying that 2006 and then 2007 would be the years that see Sefton go ballistic. Why was he stating that 'on that day you shall not be able to buy'?

I think he shall state the same year in year out since he is stuck with an investment that did not perform as he expected. The same could be said about his investments in LGB, EVS, AQL and VOG.

Enough said.

[the matador] 30/1/2008 21:38

Flea, I had a very long conversation with Jim Ellerton and can back up what you say 100%.

No doubt our "resident unpleasantness" is derogatising your post, however, Sefton are progressing with the issues that will move the share price into more positive territory and it is only a matter of time before this happens.

Unlike previous years, this year will see all the benefits of the upgrades in equipment and storage because they actually have the finance to action the procedures required to increase production on a major scale. Something that has already started with two new, successful wells.

[redhill] 30/1/2008 21:36

Quarterly reports with monthly updates.
Will they be 19 page closely typed like Yas0's?

[redhill] 30/1/2008 21:33

Thats because you gave it to him upside down!

[yas0] 30/1/2008 21:31

I have just spoken to my friend in charts. At the end of the call I asked him about his reading of SER, just for fun since I really do not invest on the basis of charts.

He thinks a test of 4p shall be crucial. Oh well.

[redhill] 30/1/2008 21:30

Well thats because you don't know what your talking about!

[yas0] 30/1/2008 20:54

Oh dear - a director getting upset by a two bit penny punter.


Asssuming fleabag's post is correct, in which he suggests the response is from Ellerton (we have to be cautious since others like Iaing have in the past stated the same and then removed the post when questioned), then it does not bode well.

It shows the Director getting a little hot under the collar - not a desirable situation by any stretch of the imagination, especially when the person to whom he was responding is nothing save a two bit penny punter. Hence one can rule out any institutional interest at this stage, since if there was there would be no need to get rattled by a novice investor with a paltry holding.
According to Fleabag's post, JE suggests we should believe the Hardman report. I have never heard such a laughable suggestion. The report that suggested steaming was set to start in mid 06, or the report that suggested profitability in 07, or the report that suggested an aggressive drilling campaign. Enough said. The report is commissioned by SER and thus needs to be taken with a pinch of salt.

The other thing that concerns me is Fleabg's reporting of the telephone conversation, and specifically the resons for the delay in steaming (which are in stark contrast to that reported by Unimog and Iaing - they both indicated they had spoken to the same).

All in all, this is not the kind of reassuring update an investor would like.
My view of Sefton remains unchanged.

I do not see sufficient improvements in cashflow, nor do I see any profitability for full year 07 or 08. I do not see any progress in terms of a jv partner for cbm in 08, and I think the debt shall be an issue going forward. Others are entitled to their own view.

Time will tell.