Sefton Resources Share Chat (SER)

Sorry been away for the wknd. Not sure what the full year results will be like and dont have time to go thru the rns announcements to come up with a view im afraid.

However it seems most think a loss and dont necessarily feel i should disagree.

Im in here based on balance sheet at mo anyway and dont think this years results will have too detrimental impact on that front.

We know news is due just dont know when itll come. Happy to hold until then.

Who is expecting Results in May? You?
Last years were released in early April, so if you have a link to back up , 'expected in May' it would be useful. Otherwise it's just another of your expectations, like a JV!

What ADFN.......the worst BB board out there full of TW wanabees. I don't care what they say.

Results expected in may so it's lot late at all and still weeks away.

If you believe different and it's fair that's fine. We will just have to see what transpires in the 'coming weeks' statements. If people think a JV or other financial stability for the report is coming buy if people feel your view is correct sell. It's a personal decision.

who knows we may even get the dr ali report, remember him !!! ?????

I see you're are gaining a reputation on other financial forums. I am afraid it is not a repuation you should be proud of!

This isn't a shake it's simply the MMs returning ths SP to where it was before they walked it up to clear the overhang.

What big news? News of a JV?

You seemed to have convinced yourself that is the next logical step but in all these years no one has EVER shown any (reported) interest in SER's assets in California. Yet you seem to be sure that is just around the corner because Ellerton mentioned it as a possibility in a RNS. Well, pigs might fly is another possibility, but it aint going to happen.

Results still not appeared yet, getting later by the day. Can't wait to see how badly they've done this time around.
Best to sell now before they drop even further.

No big sells no bad news.

Is this the final shake before news??

We have had 100 million trading days previously and when news hits we will probably be in the same position, so mm's are gearing up and trying to get as many people to hand in their shares as possible.

Why sell right before the big news??

I expect some buys to come in later and turn this say around once people realise this price they can get today.

Dec 2012 statement

"Sefton set up the facility with Darwin in June but said at the time it was looking to put in place enlarged and more flexible debt facilities as well as industry-related financings such as joint venture financing or farm-out deals."

You can't do either without a report.........so I expect one or the other very soon. May chuck eureka into the mix as a bargaining tool.

Good night all and 10 or less days left so get your position set

Mate look I know this is all mental and it was just some thoughts being discussed.

I don't think that they have lied once nor mislead, for my mad theory to work they honestly have tried what they can since last half year reports, with the tight budget/production revenue /placements to get production up to a reasonable level. They have not got the budget nor can afford to place a ridiculous amount of funds to push this above the level it is.

What have they done. They have steamed all leases apart from the HATJE lease. Can't do much else with that. They have drilled the wells they feel reasonable to at this stage. They have made tank improvements and completed well repairs so all good there. But all these things will only bring about a certain level of production. The big changes to get to the magical 200 bopd is with more funding and drilling. The Hartje lease I hope to bring about an immediate improvement to production.

Basically what I am saying is it all points to a JV very soon. SER have done everything they can in their means to improve production they have hopes for each months production but can only react to what the well gives them and how it reacts to steaming etc..... Also they have shut down a lot of wells over the last 2 months. But now they are ready after the report to push this company to the next level which requires a lot of funding.

People say we have a lot of shares in issue but we are still lower than a lot and even lower than MAGP that people used to rave about. I know we aren't sitting pretty with our share price compared to most but truly if we secure a JV for this field which its all pointing to then we will get some serious investor return.

I have a lot of faith that the BOD will pull something out of the bag. I share yours and others frustration in the past and failed this and that. But this brings me back to the doing all they can just within their means without huge placings or major debt which they are trying to avoid. Why because JV coming soon.

Just my thoughts mate and I'm probably way off left field but we will hopefully see in less than 10 days.

Dont really wnatto discuss tis becasue it is too far out in the wild to even consider, but just two points:

1) . If at any stage they on purpose had turned down fo rthe production or performance in general on purpose then the lies is not for that but for all the promises they have made thathave created expectation that we would be in a much better siotuation than we are now. They have lured many many peopel to part with their hard earned money on all sorts of promises on production, reports, gas pipelines, the list is nedless and missed every target. If in abny way this was partof a plan to decieve becasue they really didnt want to grow too fast or spend too much money then they would have lied and mislead investors and they should be punished for that and never be allowed to be directors again. By the way let me stress That i dont beleive for one second that they had any plan like this, I actually dont believe they have any plan or clue whatsoever!

2) You have indicated they might have reigned in spending. Thi sis simply not true for one second, you know yourself how much money tehy have had to rasie just to do what they have done and none of their investments have paid off. It is not a question of how much you spend but how it is spent and they have failed in getting adequate return on any of their capital expenditures. That is just a fact. If they wanted to reign in spending start looking at how much they pay Jim. The proportion of salary in relation to the capital worth of this company must be one of the highest in the world!

Afternoon mate.

Well at least I have some praise ;-)

You know what I'm like by now I chuck loads of possibilities out there to be devil's advocate and gets people thinking and discussing the points. Exactly how you have done. I love a good debate/discussion.

I get the way I out it across wad a bit mental but I didn't fully men's they have on purpose as part of the plan limited production but to not spend vast amounts of money or make huge placements is not lying it is a plan. Why would they wait to increase production of they honestly realistically could. So my point was that they have done their utmost to keep production above 100 where they can and work within a very tight budget without making drastic changes. Drilling and building steam generators ain't cheap but still possible. I feel partly the report is needed but I also feel that they have always planned to use a JV to fund the major improvements needed.

It just seems like there is something going on behind the scenes. It has been like this production wise for so long and it seems like everything has been planned to be developed at equal stages. Vanguard pipelines and Dr Ali report for instance. Look no one actually knows but I like to find the deeper reasons behind events. Cause when it comes to AIM there is often things to read behind the lines.

And it's obvious labour spend the money and everyone loves it, then people realise that it's fine to for, conservatives come in and reign in spending, people get sick and tired of the economy showing no real signs of improvements therefore they generally don't last long and labour come in and spend some more.

SER are the conservatives and the JV partner will be the much needed coalition with the spending labour.