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
With updated engineering, increasing production, continuing good results from at least a year of cyclic steaming and the pending Dr Ali final report, the Company has initiated discussions with several third party entities with California heavy oil production and steaming expertise. The Company is exploring options for how best outside capital and additional thermal stimulation experience can be brought to this field's development for the benefit of Sefton.
Since I got upbeat about SER as been here on all the spikes over the last 3 years and have over £20k stuck in here and theres been so much rubbish spouted on this BB over that time I lost interest in contributing.
When we got into legal fights and AIM suspension and internal emails from within the SER BOD unofficially exposing the goings on I prepared myself for them to go bust.
Today signals hopefully a new dawn, JE has taken the urine for years and now been exposed.
We are sitting on greater assets and potentially steam flooding will unlock greater things to come and yes we should expect further dilution to cover the costs.
If I have wait another 2 years to get my money back or more, well so be it but today it's a relieve we're still in business
However the makings of a multi bagger are possible and I'm now tempted to buy more and bring my average down after a good read of the RNS which is a lot to take in.
I expect continued rises until the holy grail of Dr Ali's report arrives sometime this century.
Poor sentiment here and some disgruntled holders, looks like it will be a bit of a slog getting back any decent rise in sp. I for one can see a turnaround medium term so I've had a small flutter on SER, lets just see how it goes.
With improved production, updated engineering and the forthcoming finalization of Dr Ali's report, the Company is exploring opportunities with entities that possess California steaming expertise about how to maximise the value in the Tapia field
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