SER.L Share News (SER)

LONDON (Dow Jones)--Sefton Resources, Inc. (SER.LN), an independent exploitation and production company with assets in the East Ventura Basin of California and the Forest City Basin of eastern Kansas, Thursday announced that it has reaffirmed and extended its reserve-based revolving line of credit. MAIN FACTS: -The $10 million facility with Bank of the West carries a borrowing base of $7 million, reflecting the maximum amount that may be outstanding under the credit facility at any time. -The facility has been reaffirmed and extended for six additional months and will next be reviewed in February 2011. -Loans made under this revolving credit agreement are secured by mortgages on substantially all of the Company's oil and gas properties. -The credit facility is available to provide funds for the exploration, development and/or acquisition of oil and gas properties, to refinance existing indebtedness and for working capital and other general corporate purposes. -Shares at 0923 GMT unchanged at 1.0 pence. By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires July 22, 2010 05:24 ET (09:24 GMT)