I may have got the issue about stumping up cash for court costs should ser lose , before the case , was correct . the case is about to enter the outlining stage on 13 nov , and the company will have to stump up $400k for the twins legal costs incase they lose . Oh, November 13th….. that is when I am scheduled to have my application for security of costs heard. Dan is a week later. If Sefton loses those battles (and given it is a non UK company with cash issues that is not in doubt) it will have to pony up as much as $400,000 to continue the case. Check out the interims as to whether it can afford that. tw I have noticed much back slapping today , as people have gotten carried away with a mediocre set of results , and a fistful of regurgated promises . let me ask a serious question . who is negotiating on behalf of the company for jv or contracts for gas ? we have no ceo or chairman . if jim is still acting in those roles , which for negotiations to be ongoing , somebody has to be , then the rns stating he was stepping down by mutual consent , has to be lies . nothing will change for this company , nor will it be a believable company , until a new and independent ceo and chairman are in place . my champagne therefore remains on ice , until we have something tangible to celebrate , rather than populist statements of intent to bolster an sp that we would have fallen sharply if the spin was left out and it just stuck to fact .
Well, was hoping after the great start the SP would be around 0.50+. But at least we're trading again. May keep tweedle de and tweedle dumb quiet for a few days. Seems to have got custy stumped for a while to. Feel further good news to come. Have a great weekend genuine Seftys.
What are they? Surely they cannot be sells as that would have dropped the price lower than 0.35 on opening if they were straight after the suspension was lifted.. Great to see activity again on this share 80.09 million traded so far 3 hours still to go.. onwards an upwards from here hopefully.. Will be good to see what production figures we have for September anything around the 150-160 mark would great again as prices in the last 4 week went up!.. adding another 500 from Kansas.. i hppe they continue to steam the Yule and Hatlje well as they have responded well so far giving multiple 100% of increases..
The first report of Kansas production was the beginning of February when we were told it was averaging 300/month. This was repeated at the beginning of March. At the beginning of June we were told 400 for March and April and 450 for May. Now we are told that production has been rising throughout the first half (to 500 in August)
So the inference is: Jan 300 Feb 300 Mar 400 Apr 400 May 450 June 450 (at least)
Total "reported" in RNSs approx. 2300, ie 383 a month.
But total was in fact, according to today's, RNS 268 a month, a 42% shortfall!
Also, the total amount produced i.e. California and Kansas, was 22669, but this number is reported in the RNS under California operations (California total was in fact 21089, a 3% decline from 2012). So why is the paragraph under the heading California, and reporting a 4% increase in output??
It seems that Sefton, currently engaged in a libel battle with bloggers who have accused the company of issuing misleading production statements, simply is not able to stop shooting itself in both its feet!
In addition to identifying the Company's own wells for gas, an increasing number of potential joint venture partners are now emerging. Negotiations are ongoing with a number of local entities to transport their gas through the Company's pipeline system and have now reached the testing stage, in which volumes and quality of gas is being determined as part of these negotiations
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.