Sefton Resources Share Discussion Threads

[deanroberthunt] 08/2/2008 11:06

Looks like you need final commissioning sign-off before you can apply for final permit, so nothing sinsiter, just the system....

and you can't handover to production until you get the final permit approval.

[moonshine1] 08/2/2008 11:06

MT, sure and they have been getting there, slowly. But now...

[moonshine1] 08/2/2008 11:04

Sefton Resources Inc
12 October 2007


Sefton Resources Inc
Press Release

Rig and Steaming Update

Sefton Resources Inc announces that preparation works for the steam pilot and
addition wells to be brought into the system are progressing well. The delivery
of the drill rig, however, is likely to be delay for at least another week.

The gas supply lines, separator and metering hook-up work has now been completed
and will be tied into the steam generator unit in the coming week. This work is
on schedule including changing the wellhead valves, the delivery of a low-boy
trailer, pipeline tie-ins and the installation of new flowline and gas recovery
lines as well as the finalising work needed for an Air Board operating permit

[deanroberthunt] 08/2/2008 11:04

mark, indeed, a profitable few weeks, picked up loads of Woolies at 8p and now Sefton at 4.8p and 4.9p....

[markinthepark] 08/2/2008 11:02

DRH,

well fwiw not a bad day for us here and over at Pick'n mix too....makes a nice change

[relishing] 08/2/2008 11:02

moonshine,



"Initially, the running of the new 14 MMBTU steam generator will provide an air quality "Source Test" for verification to the LA Air Quality Management District that the equipment design can actually meet the air emissions standards required for a permanent Permit to Operate. It is actually designed to exceed these standards by >25%, so we expect no issues in that regard."

So the fact they are waiting for the permit implies that the source test has been carried out and hence it has already been run successfully on the propane.

And as you say, this test could not have been carried out until this point.

So nothing to worry about MT!

[mickey take] 08/2/2008 11:02

moon- The unit has been on site since July of last year

[deanroberthunt] 08/2/2008 11:00

there you go Mickey, now chill out and open the Bud.

[deanroberthunt] 08/2/2008 11:00

online spread is as tight as a Knats chuff

[moonshine1] 08/2/2008 10:59

Getting the final approval from the Los Angeles Air Quality Control Board
(AQMD) for firing the TEG steam generator was always the very last step before they could start the steaming. They couldn't apply for the final permit until it was all ready to roll. This was announced in an RNS or oilbarrel article or on their website some time ago. In that article they said it was a formality, IIRC, and it would not take long.

[relishing] 08/2/2008 10:59

Forgot we had 7 MM's now. You'd think they could manage a better spread between them.

[deanroberthunt] 08/2/2008 10:57

Mickey...your a conspiracy theorist aren't you..lol, but I get your drift.

[relishing] 08/2/2008 10:57

LOL. Yes I misread it sorry.

That's still very much on the conservative side though.

[deanroberthunt] 08/2/2008 10:57

I agree, thats why I stated $2-$3m....

[mickey take] 08/2/2008 10:56

Relishing – Why do you think they have announced only now that they haven't got a license to run the unit ?

[deanroberthunt] 08/2/2008 10:56

We now have facts not hope....

[moonshine1] 08/2/2008 10:55

Morning all, nice to see a bit of optimism around for a change. L2: 5v2.

[deanroberthunt] 08/2/2008 10:54

I firmly believe this is the time to be in Sefton, we are indeed at the inflexion point of the J-Curve....

[deanroberthunt] 08/2/2008 10:51

just speculating.

[relishing] 08/2/2008 10:51

"a proven pilot programme will add more value to the share price than the current 3-4 wells imo."

That's impossible to determine at the moment - we'll just have to wait to find out!

I think they both have the potential to add lots of value.

[unimog] 08/2/2008 10:50

5.58p bid for 75k online with selftrade

[relishing] 08/2/2008 10:50

dean,

The Q3 was the conservative part :)

[deanroberthunt] 08/2/2008 10:48

Relishing....the wording of the RNS re: steaming suggests they are mildly confident of a modicum of success and are eager to get started.

a proven pilot programme will add more value to the share price than the current 3-4 wells imo.

[relishing] 08/2/2008 10:47

MT,

On the one hand it implies that all mechanical and other issues are out of the way. On the other hand it is now hard to determine (for us) when this approval will be signed off by the LA dept. Could be days/weeks/months - who knows? But from the tone of the announcement it looks like they (sefton) don't expect it to take that long.