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Sefton Resources Share Chat (SER)



Share Price: 0.215Bid: 0.20Ask: 0.23Change: -0.05 (-18.87%)Faller - Sefton Res.
Spread: 0.03Spread as %: 15.00%Open: 0.265High: 0.285Low: 0.205Yesterday’s Close: 0.265



Share Discussion for Sefton Res. (SER)


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TonyBelvore
Posts: 929
Off Topic
Opinion:No Opinion
Price:0.17
AA1971
7 Jul '14
the Market hasn't reacted yet, we have survived from brink, once it starts to react we have seen many rise big who survived. This is AIM the MMs will start the movement very soon, we all know how this moves in a instant!
 
TonyBelvore
Posts: 929
Off Topic
Opinion:No Opinion
Price:0.17
disco
7 Jul '14
Spot on MA post sums it up brilliant!
mannnan
Posts: 19,624
Premium Chat Member
Observation
Opinion:No Opinion
Price:0.17
discopablo
7 Jul '14
good post
discopablo
Posts: 1,503
Off Topic
Opinion:No Opinion
Price:0.17
...
7 Jul '14
MA's post towards the end of last week sums up the position here. We are so undervalued currently.
discopablo
Posts: 1,503
Off Topic
Opinion:No Opinion
Price:0.17
A reminder of the value here.......
7 Jul '14
Hi. I am on vacation and occasionally glance at this board (and others) these past 2 weeks. I have read some good comments, but mostly, utter rubbish from people who clearly have not joined up the dots between the EGM circular and the 2013 Annual Report, either through inability to read the numbers or to deliberately undermine the basis of the transaction. All of my research is based on the EGM Circular and the 2013 AR. It is actually quite simple as I see it.

IMVHPO, this is the summary of the deal.

Sefton EGM Deal Summary $M Notes

Cash 4.47 After SER repays BOW and other s-term debt ($3m over 3 years)
Asset Impairment Liability 1.9 Transferred to Tapia LLC (Note 13)
Debt Repayment 3.7 BOW Repaid in full
Minority Interest 1.375 20% Tapia LLC that SER retains

Total Deal Value to SER 11.445

The Total Deal Value is £6.73m without Kansas @ $1.7 = £1 MC 4.7.14 of SER is £1.22m (0.155p mid price) SP with this deal and without including the value of Kansas assets, the SER SP should be 0.855p mid price - 0.8p bid or 0.9p offer if the EGM Resolutions are approved.

If you want a more detailed breakdown, visit the link below

https://db.tt/c16iKEge

I normally do not offer an opinion about the SP. For me, given the circumstances and the manner that the BOD and the NOMAD has conducted itself since Jim Ellerton's departure from the Board, this deal appears to be the best that is being offered to shareholders. I have no idea if other deals were offered to the BOD and if they were better or not. As proposed on the EGM Circular then this deal allows Sefton a chance to start to develop Kansas pipeline and some wells without the Tapia baggage, despite the initial reduction in revenues and attendant costs. This was just strangling the company. Failure to agree EGM Resolutions = wipeout and for the vultures, an ultra cheap buy from a Chapter 11 situation, again, IMVHPO.

Hawker (supported through Sara Creek and Crest Petroleum -read the SEC 8k filings yourselves folks) seem to have prepared for not just the cost of the deal and the assumption of debt and asset impairment liabilities, but further funding for capex to increase production in a way SER failed to do for so long.

At least this deal offers shareholders something, which hitherto had not been visible for months. It is better than nothing at all.

Hope this helps, and have a good weekend.

MA
AA1971
Posts: 1,509
Off Topic
Opinion:Strong Buy
Price:0.17
SER
7 Jul '14
Still cheap as chips IMPO

When this moves it really does move.

FWIW I expect a build up of pressure leading up to EGM

GLA
smidsy
Posts: 3,711
Off Topic
Opinion:No Opinion
Price:0.17
specsavers
7 Jul '14
I must make an appointment to get my eyes tested lol
TonyBelvore
Posts: 929
Off Topic
Opinion:No Opinion
Price:0.17
Nice to see
7 Jul '14
0.18p paid.......
TonyBelvore
Posts: 929
Off Topic
Opinion:No Opinion
Price:0.17
This
7 Jul '14
is just Hearing up, 2.6m buy just the start
smidsy
Posts: 3,711
Observation
Opinion:No Opinion
Price:0.17
2.5 mill
7 Jul '14
Just bought at full ask



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