Sefton Resources Share Discussion Threads

[iain g] 31/1/2008 10:05

News coming in the next couple of weeks

in interesting quote from Shells Cheif exec j van deer Veer's prophecy that world demand for oil & gas will outstrip the available supply within 7 years

now let me thing what is it Sefton is doing , oh yes producing oil .drilling for more proven oil 3 or 4 new wells this program & also developing cbm gas extraction ! LOVELY

< supply v > demand = An extremely good future for Sefton

[yas0] 31/1/2008 10:03

No obfuscation of the facts as far as I am concerned. Iaing/Unimog blamed long holidays and a missing part. Fleabag appears to lay the blame squarely with a previous operator of the well.

Which is it?

[relishing] 31/1/2008 09:59

But they didn't give differing accounts.

Unimog and Iain g asked about the propane.
Fleascool asked about the difficulties with the gas supply well.

Stop trying to obfuscate!

[unionhall] 31/1/2008 09:57

Thanks flea....

[yas0] 31/1/2008 09:46

Bobbyg,


Can you explain to new readers the different accounts given by, on the one hand, Unimog and Iaing, compared to that given by Fleabag as to the reasons for the failure to complete a pilot test to date? No, thought not.

Both claimed to have spoken to the company - both give different accounts.

[yas0] 31/1/2008 09:44

Oh dear. Relsihing tells MT where to go! Numpties squabbling between themselves.

[bobbyg2] 31/1/2008 09:42

Morning all

See the numpty trying to get everyone all worried now we are back on the rise again.

Thanks for the update Flea, much appreciated.

I can see MT's point to an extent but I cant see us getting anywhere with this didscussion as we have had it many times before and it just goes round in circles. I'm prepared to give them the benefit of the doubt and wait to see what comes in the RNS's in Feb.

Interesting to see they wantd to progress in Jan with drilling so they realise it is important to get more oil out.

Also very interesting to see that know someone is messing with the share price - id be v interested to know exactly what he means by this and if they are aware of any naked shorting or any such.

[redhill] 31/1/2008 09:35

Absolute rubbish

Now fly away you nutcase!

[yas0] 31/1/2008 09:32

One thing the market does not like, even when general market conditions are good, is uncertainty. However, in times of market weakness and jittery nerves, uncertainty is certainly not the flavour of the day.

At Sefton, investors on here do not seem to know if they are coming or going.
Some say steaming is rolling, others say parts are missing, others suggest long holidays are causing delays, others say there are technical issues.

All I know is that the steaming process has yet to generate any benefit to the bottom line for Sefton, and that is what counts in terms of servicing the debt facility. You can discuss the technicalities of the steaming process all day long, but I think it may be wiser to focus on the last set of results. Then consider the possibility of the Hardman revenue projections not being met. Ask yourself this. How likely is such a scenario?

[yas0] 31/1/2008 09:27

Perhaps Iaiing can elaborate on the missing part story - why did he see the need to remove the post.

[redhill] 31/1/2008 09:10

Good point there MT. However they haven't actually told the market officially that they are waiting for a part.Also you can't assume they are not telling the truth unless you are actually out there.

[yas0] 31/1/2008 08:59

I must say, every time someone on here suggests they have spoken to Sefton, or every time a Hardman report comes out, everything is always said to be imminent. But then months later matters still tend to be stuck in a rut.
Know the feeling Seftoners? Yes, thought so.

[yas0] 31/1/2008 08:57

Still more talk on here as to why the steaming process is delayed. It does not matter why it is delayed (except to those who place their faith in the board), but the fact that it appears much hinges on this process, and that some 4 or 5 months since they secured funds they have not managed to even complete a pilot test, well, make of that what you will.

[redhill] 31/1/2008 08:50

Level 2 improved again. Now 2v1 4.5p-5.25p.

[relishing] 31/1/2008 08:36

Could be an interesting month ahead then - especially if the drilling rig arrives on time this time.

[fleascool] 31/1/2008 08:31

I think they'll start the pilot within a fortnight.
The way he was talking, I got the impression that it was there, virtually ready to go. but that could be my interpretation, and if i'm honest, i've worked 50hrs so far this week and i'm knackered!!!!
Plus I got soaked this morning walking to work.

[relishing] 31/1/2008 08:29

MT,

Taking the decision to use propane was progress (of sorts). If you remember in the previous update they were still deciding.

[fleascool] 31/1/2008 08:24

Morning.
MT, He gave the impression that they weren't there yet, but were close.
I didn't ask 'Has the steaming started' but he did go on at length about it.
I seem to remember him saying some abouta BTU unit/part being what they needed.
It was said in the past tense.

As you'd hope he was quite passionate when I first called him, but he spent 15 mins on the phone to me.
My view hasn't changed. Long term this has significant potential, but until we see real progress on production leading to cashflow leading to profit. The share price ain't gonna move anywhere fast.

Flea.

[iain g] 31/1/2008 08:17

Morning All

Thanks for the update flea

[redhill] 31/1/2008 08:11

Another Market maker just moved up to 4.5p.Expect a barrage of posts from Yas0 shortly!

[mickey take] 31/1/2008 08:02

Red- All I wish is that they report to the market and investors truthfully,

I recon they have dug themselves another hole here with the steaming they have indicated that they have progressed this issue when it's clear to me that they haven't,

There next statement to the market will be laced with the same dialogue

This will send the share price down, and again will hit the sentiment of both shareholders and those considering investing.

If they report honestly in the first place any statements that follow can if written correctly be viewed with clear direction and not up for interpretation.

THAT IS PROGRESS,..... anything else falls into the horsesh!t category

[fernygrade] 31/1/2008 08:02

Redhill & Matador, you both have a point Red the steak on their plate is a 43 ounce T bone which in my view is far to big them to digest much like their current jobs.

Matador at the moment they are leading your investment astray for instance with the bull having 43 ounces sliced out of itd backbone the bull is a little wonky, much like willy remember him?

[the matador] 31/1/2008 07:52

Red, you are right on the above point. They also hold considerable shares here and unlike most here, are in the twilight of their years! As much as they probably all enjoy working, they will also want out soon imo.

More good news for Sefton:

The Federal Reserve cut U.S. interest rates by a hefty half-percentage point on Wednesday as part of an ongoing aggressive effort to halt a sharp slowdown in an economy hit by a housing slump and a credit crunch.