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You'll have noted that I encourage voting yes in my sign off to the 09:37 post so your I'm not sure why you say you're "afraid" that your votes have already been cast in the affirmative. Personally I think the resolutions being passed will make a significant difference to the timing of when the company is wound up with no return to shareholders. I may be a brand new poster to you here but I have been active on ADVFN's SER board for a number of years and as for no posts on any other share, well, how could I have - I only registered on LSE last night. As for my motives, well I'm certainly not publicly spirited in contributing to the debate here. When I decided to discontinue betting on SER share price movements (like everyone else here I never invested in the company) my interest in the company did not cease, why would it? I continued to contribute sporadically on ADVFN and through reading there discovered that there was active debate on this forum. I've been astounded at some of the claptrap that's been spouted here but never bothered entering into the discussion. Last night however I spotted the word for word repetition in JAS123456's post from one that I'd read by c a l i f o r n i a j o e elsewhere and thought it warranted pointing out given that on a number of occasions JAS has linked to CJ's material and has lauded him, in his Simon Templar incarnation, as helpful contributor. If he is the same person then it has implications for the reliability of some of the stuff that he has posted. If he isn't then he should be brought to book for passing off the material as his own.
Thanks for joining the bulletin board tomrob. I'm always fascinated by people's motives for posting about shares that they aren't currently invested in. It is very public spirited of you, a brand new poster with no posts on any other share, to come here specially to post detailed but seemingly negative information about SER immediately before the important AGM vote ;-). I'm afraid my YES votes are already in as I'm unable to attend the AGM.
Oh and I forgot to mention Hereshopin, in order to use those tax losses from Kansas they would need to be finding new assets to operate in the US since that's where those losses reside. Sefton being a BVI corporation (zero corporate tax rate in BVI), had no tax losses in the parent company. I have no idea about the tax status of any losses incurred in the operations in Indonesia this year and head office costs since they relocated the administration to UK though I cannot imasgine that they would have significant value for a potential acquirer whatever structure was used.
The link removed from that second post was to the Google Finance page for Hawker Energy Inc Go to Google and search for: OTCMKTS:HWKR
Wierd board you have here. It removes links and replaces the name of c a l i f o r n i a j o e with *********** and it limits the length anyway post continues The Hawker shares – Hawker Energy has a market cap of $2,070,000 although it is unclear if shares have traded for many months https://www.google.co.uk/finance?q=hwkr&ei=OP0kVsmmFYWNULXWs7AG As far as can be ascertained they hold 150,000 post consolidation shares out of 8.32m in issue or 1.8% so it’s possible that the Hawker holding is worth $37k. However that in itself is not clear since RNS’s were clear that the shares issued to Sefton were in Hawker Energy LLC which is a subsidiary of the listed entity Hawker Energy Inc. In any event they may not find a ready market for the holding should they decide to sell. It’s certainly one to ask Clem for clarity on. koolisland, Back when BMD was trying to bring Ellerton down and coincidently WTI prices were hovering around in the 90's he described the Kansas assets as stripper wells (ones that were nearing or past the end of their economic life). Now after 2 years of minimal, cash-strapped maintenance and with WTI prices a fraction what they were then we are asked to believe that he considers them a valuable asset? Methinks that either he is a fool or he thinks his audience is comprised of such. Everyone, Have fun at that AGM and make sure you vote for all the resolutions. You may as well since in all but the wildest imaginable scenarios you lost anything you gambled on this ‘investment’ a long time back.
Disclosure, I have traded shares in Sefton and held shares at various points between 2011 and early 2014 closing my last position just before the end of the 2014 tax year. If you think there’s no value in reading the opinions of those that don’t accord with your own please don’t bother reading this. JAS123456, Are you an alternate username for **************, or are you simply plagiarising him? Your latest post reads: "Kansas - What the assets are worth now is questionable, as the pipeline, which required major work due to corrosion has sat there not being used or maintained for some considerable time so further rot is likely. Added to the fact the price of gas is so low it would never pay to utilise it, as things stand, with the low oil production that was declared and the substantial drop in oil prices, the assets can no longer have much value. It may well be that selling the flow meter, which is probably worth about $50k and the pipeline for scrap would return the most value. There are a few prime leases that may be worth something, providing they were renewed under Raylene’s rule but I would think right now, they are pretty worthless ..all imo" hTTp://www.lse.co.uk/ShareChat.asp?ShareTicker=SER&share=sefton_res On CJ & Partners new Talk About Shares forum is a post 4 days ago by the man himself, **************, that reads: "What the assets are worth now is questionable, as the pipeline, which required major work due to corrosion has sat there not being used or maintained for some considerable time so further rot is likely. Added to the fact the price of gas is so low it would never pay to utilise it, as things stand, with the low oil production that was declared and the substantial drop in oil prices, the assets can no longer have much value. It may well be that selling the flow meter, which is probably worth about $50k and the pipeline for scrap would return the most value. There are a few prime leases that may be worth something, providing they were renewed under Raylene’s rule but I would think right now, they are pretty worthless. Maybe JE will buy them for a song, he is the only one that knows whats what with them!" hTTp://www.talkaboutshares.co.uk/forums/topic/kansas-assets-a-lifeline-or-a-liability/ HeresHopin, There is very little value in whatever tax losses might remain within Sefton. Most of the historic losses were accrued within TEG USA and were sold with that entity to Hawker. Were they to find a buyer for Kansas the losses related to that operation would be sold with them. If they keep Kansas on in order to make use of the tax losses they would be committing themselves either to the decommissioning costs, endless care and maintenance costs to avoid decommissioning or significant investment to try to render Kansas economic to operate and I don’t see them doing any of those in return for a bit of tax relief. The Hawker shares – Hawker Energy
"In actual fact Sefton Resources (LON: SER) are in a far better position cash wise & asset wise. They actually have about the same cash if you unwind the ridiculous UTAS JV and they still have Kansas and several gas pipelines." reso. BMD was a director of SER for awhile and he certainly does not think that Kansas is a liability. He has made no blog comment as to why he has bailed out of SER. I wonder why. Perhaps ST/CJ/KK/CB could answer this question.
BrokermanDaniel @BrokermanDaniel · @jimmhk Like to state for the record. How much we all at #SER owe Jim Mellon. A true share-holder champion.
The Kansas assets are more likely to be a liability! If the previous custodians are to be believed and Kansas wasn't sold, the plugging liabilities of the wells would cost in excess of $500.000 ( Q3 2015 ). What ever happened, regarding this? Was it just more yarn spinning??
Before this lot lost its nomad it had assets to include the AIM quote and tax losses - both these worth a lot. Now we will see what these new wonder boys can make our of this pile?
And cash in the bank ? Im guessing 250k
Kansas - What the assets are worth now is questionable, as the pipeline, which required major work due to corrosion has sat there not being used or maintained for some considerable time so further rot is likley. Added to the fact the price of gas is so low it would never pay to utilise it, as things stand, with the low oil production that was declared and the substantial drop in oil prices, the assets can no longer have much value. It may well be that selling the flow meter, which is probably worth about $50k and the pipeline for scrap would return the most value. There are a few prime leases that may be worth something, providing they were renewed under Raylene’s rule but I would think right now, they are pretty worthless ..all imo If Kansas is essentially worthless, Clem and the new BOD somehow need to find and fund something with the potential to bring the company back to life. Team Clem not only want to save the company, they have the means to do so. imo VIVA CLEM! !!
Nov 04 rns said 504,300 dollars mentioned in oct 23 rns , but they feared the worse after an aggressive dissipation of funds .
It's more like 700k, ser had a lot of debts to pay. Chris oil was not happy when he found out.
Why would it matter to them either way? If Clem does come to agm with info about all these situation of bad practice then if they don't go after these people the question will be asked 1, was the information correct they have 2, if you aren't going after them to get money back why on earth are u wasting time looking into it.
agree ,,, but its not all about the money.... folding means those that have robbed , raped and deceived shareholders recently and over the years win..... thats the last thing that they want to happen......
Paul, many people on here seem to think they will lose this 500k if this went bust, they won't. The pure and simple reason is they will realise the losses against other gains they make in the future.
there is nothing like £1 mill left . A yes vote lets Clem carry on . Requistioners have 500k ish at stake and wont want to lose it .
Voting no you are voting for Sefton to be wound up . Yes vote is for Clem to try and save it . Thats the bottom line , the sorry situation we are in . Easy
Hi all, Is anyone able to give a summary of what happens at the AGM once it is over and post on here? I am unable to attend due to work commitments.
Ditto :-))) ..............all for.
Hi SS my votes are in.
I'll be attending he AGM with my wife. I have questions for Mr. Chambers. Supershare are you saying Miss Whitford charged back to Sefton for makeovers and make-up? I can't see that?
Hi SS - Vote in!!
Hi to all the real PI's of Sefton. Make sure you get all your vote's in for Team Clem. Don't believe the BS that the trolls and OBB have been spouting. The truth is coming out on Thursday and Team Clem will be well and truly vindicated. After the AGM the truth will be public knowledge and all the trolls will be shown up for what they really are. If any of you have fallen for there B#LL$#!t make sure you change your vote to TEAM CLEM because once you know what has really gone on you will feel very stupid if you have listened to Ben Turney,OBB's and the SHARE PUPPETS LIES . Cant wait for Thursday VIVA TEAM CLEM !