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[griffzinho] 07/2/2008 09:01

Best RNS in a long time. Well written and clear.
Also have delivered ahead of expectations in relation to planned timeframes.
Snow lease thickness sounds interesting?

[deanroberthunt] 07/2/2008 08:59

Excellent news, unambiguous.......full steam ahead.

start that re-rating.

[folderboy] 07/2/2008 08:58

Mixed messages? My reading of the RNS is good news - but I seem to wear rose tinted specs

(I thought the Arm results looked OK!)

[siovey] 07/2/2008 08:58

No one spotted the rns yet????

[relishing] 07/2/2008 08:58

News out!

Looks like they under promised and over-delivered for once - DRILLING STARTED!

Mention of thicker oil sands for these wells, phoar.

[yas0] 06/2/2008 22:47

SuprSpud,

Any market comment? No, thought not.

[yas0] 06/2/2008 22:46

Well you did concede the other day that you were Matador. It is so obvious it beggars belief.

[more crap] 06/2/2008 22:39

Any response to why you think 75% of the posters here are minerman? Why do you hero worship him so?

[yas0] 06/2/2008 22:22

Any response as to why you have adopted another pseudonym minerman?

[more crap] 06/2/2008 22:04

Any response to explain your statement Sefton would not get a finance deal?
Any response to explain your statement Sefton would get a poor deal on it?
Any response to explain your statement Sefton would not get a rig?
Any response to my statement you are the biggest wan*er on here?

No, thought not!

[investorjon] 06/2/2008 22:01

relishing: You may be correct with regards SER taken out at some stage, as much activity expected in M&A. No doubt though success in more wells could be the catalyst, rather than steaming, as potential bidders are more likely imho to seek more value by launching such acquisitions prior to other potential being realised in ongoing assets. Kansas tracts may also be of interest to others in the area.

[yas0] 06/2/2008 21:41

DRH thinks sitting in front of a screen eating madeira causes baldness. Hence his knowledge of medicine is similar to his understanding of market matters.

Any response to explain why he thought MPH was aim listed.

[yas0] 06/2/2008 21:39

DRH writes '2007/08 will be a transforming period for Sefton'.

He also wrote the same about MPH a few weeks ago, and it duly served up a profit warning and has lost more than 50% of it's value.

Is there any reason readers should accept his view of Sefton? No, thought not.

[deanroberthunt] 06/2/2008 21:11

Good session at the gym...think I deserve a JD and coke

I was reading my eldest daughter her bedtime story tonight...Beauty and the Beast, I chuckled at the part where Gaston was hitting on Belle, she thought he was "handsome but conceited".....now who does that remind of I thought, however, the statement is only 50% correct, our Gaston is more than likely short, portly and balding...well all that Madeira cake and sitting 24/7 in front of a screen is gonna take its toll.

Relishing....2007/08 will be a transforming period for Sefton....a modicum of patience is all thats required....the MRP offer may lift the tiddler sector.

[deanroberthunt] 06/2/2008 20:59

with the benefit of hindsight seems that ol' ramper Victor from Portugal knew more than he was letting on.

[yas0] 06/2/2008 20:43

The reason that readers are 'ignoring the profitability' as you put it, is because there is no profitability. Based on the last set of accounts, for 06, Sefton recorded a net loss. Ditto for 05. We await results for 07, but production is similar to 06, and don't forget the costs.

Anything else? No, thought not.

[relishing] 06/2/2008 20:30

Yes, he's exactly right on that score tim. But I don't agree with the argument that without it Tapia is 'not much of an asset'. An asset that could easily produce half the market cap in profit or more a year from conventional drilling, whether it is deemed to contain 1mbbls or 10mbbls, is still a very worthwhile asset in my view. But for some reason many people are simply ignoring the profitability (or cash generation) side of things.

I would say an asset that does not generate a positive cashflow at a reasonable rate of return is 'not much of an asset', but Tapia definitely does not come under that description!

[yas0] 06/2/2008 20:00

Seftoners pinning all their hopes on steaming - something that has yet to be proven to work at Tapia by Sefton. Oh dear.

Not for widows and orphans, that's for sure.

[tim00] 06/2/2008 19:35

I agree with griff, a positive result from steaming would transform Tapia, and that no doubt is why the company is being so cautious in its strategy of progressing the pilot. However, 10p without steaming is much too conservative, and ignores current oil price trends.

[relishing] 06/2/2008 19:15

griff,

Not sure about your figure of 1 million barrels. My understanding was that the proven reserves figure was restated as ~3.8mbbls from ~7.8mbbls, which includes the Eureka field.

I think the 1mbbls you are referring to may be the PDP reserves, which will be increased through conventional production from new wells.

But I completely agree that EOR should increase the reserves significantly.

[fernygrade] 06/2/2008 18:55

ARSO I was not telling him off, JUST TRYING TO GET THE PRICE TO 4P BID