Member Info for cyan2

I previously posted that i thought there was "JUST" a theoretical possibility that SER could be relisted elsewhere than in the UK. This would have necessitated the will and commitment of Team Clem to that course. Large re-financing would have been necessary. Imo its not credible to assume this could be achieved by any borrowing. SER's assets are awful and Kansas is, imo, actually a $500k liability. Therefore a secured loan is impossible. As for an unsecured loan ; who would lend a substantial amount of cash to Team Clem?. The CEO has no oil experience . He is famous for his position at ADVFN but in 17 years profitability there still seems like a distant dream. There has been no sign that any party to Team Clem are prepared to dig into their own pockets to help. The only 'credible' possible way to refinance is to tap the existing shareholders . I doubt many of them are going to be prepared to sink more money into the SER money pit. Many have been there too many times already. The questions i have are ; what on Earth is going on now? Please , please, please do not post along the lines " I know something, but i can't/won't share" It's been over 6 months now of a "forensic audit" and we have had claims of "shocking" misconduct. Talk about shockingly slow; what are the auditors using?; an abacus . If the audit is complete then why not share some information with all shareholders? A poster claimed that SER had recovered a little more cash. Its all very well Team Clem giving a nod and wink to their pet cheerleaders, but, its about time a statement was issued publically to all. That statement should include what is their intent now. Do they intend relisting or simply recover as much cash as possible then liquidate? The silence is a concern. How is the cash being spent. My concern is large sums are being spent on those slow legal and audit teams. And who are the "consultants" and what are they taking.? After 6 months any other business would have issued a half yearly report. Team Clem asked for shareholders support; the least they can do now is communicate publically with ALL and not just their favourites.

To paraphrase Jas ,'I know something but I am not sharing it' Its the same sort of jam tomorrow line that SUPERSHARE filled the thread with. Are you one and the same author? Its time to put up or shut up. Last year SER issued lots of new shares at 0.065p per share. There are 4,796,620,000 shares in issue. Are those who acquired those new shares going to get 0.065p per share back? That totals approximately £3.118 million pounds. Everyone's heard the allegations of misspending in the last few months of several hundred thousand pounds. Even if you got all that back, (impossible imo as some was legitimate),where is the other £2million plus coming from?. This ignores those earlier share holders who were conned into buying SER shares at much higher prices. Get real.

Hi tozerk. Bit disappointed in the reply you got. I was expecting something more concrete like 'expect to re-list soon'. The only way for Team Clem or anybody else to possibly recover all their cash is for SER to be resurrected and a new credible business listed and trading. I note the heated exchanges regarding the possible costs. I think most will acknowledge that any FCA regulated market is a no go for SER. The authorities do not seem well disposed to Team Clem and London costs are, for SER, prohibitive. Team Clem have already acknowledged as much regarding the AIM listing. However; London is not the world. Its is JUST conceivably possible that SER could be listed elsewhere. Canadian TSX maybe. This looks a lot cheaper. Significant costs are involved and they would need to be sure that they are listing a company with a credible looking business plan. A must, imo, is to re-name the company. Sefton is a toxic brand and new investors would trawl its depressing history. It must be obvious to even the most optimistic holders that the company will need significant new financing. The costs of the listing will likely all but exhaust existing funds . I am sceptical that Team Clem are going to sink more of their own cash in SER. CO , in particular, has had serious financial losses recently and 'issues' to address. A newly listed company would have to attract finance one way or another. Very tricky, imo. The new business plan would need to be up to scrutiny and robust. Investors/ lender's would want to see experienced credible oil men in charge. Trouble is; no-one here knows how much money is left to pay for the new listing. How much has been spent on the audit and the legal team?. How much money has been recovered and is hoped recoverable? For ordinary shareholders a new successful business is the only hope for the recovery of their cash. Unfortunately, imo,, Team Clem have charge of the cash box and recent unpleasant utterances from Chrisoil are not encouraging. I note a new concerted campaign has started on LEK which involves CO and BMD who spammed Chrisoil's LEK pump all over ADVFN . LEK looks interesting. I hope the shareholders there do not get taken for a reckless ride. I note that Chris , (SUPERSHARE) has posted on LEK but has given up here offering his inside track knowledge of SER events. Perhaps he would like to post again here with one of his insightful assessments. But it appears he's distracted these days.

Wow. FMX_Gr ‏@FMX_Gr Chrisoils message to SER shareholders: 19 Apr 2016 - 21:02:34 "its embarrassing you got ****ed and chris oil got the money" Please retweet

I expect that there is a 3 stage 'business' plan and you have been reassured that a new listing is in the offing . I expect it will be away from London and the interference and influence of the FCA. A facility to trade the shares will return.! Opportunity knocks. Stages 2 & 3 will follow in due course. We all make mistakes and I have made plenty Jas. When honest mistakes becomes foolishness is , imo, when you do not learn from ones mistake and you keep repeating the same one again and again. For example continuing to believe those bloggers, tweeters and BB posters you know have deceived you before with tall stories , reassurances and downright lies. Perhaps SUPERSHARE will return to the board. The board is not the same without him. Come back Chris. I expect he will be back to help stage 2 of the 'business plan' GLA

I note that Jas previously revealed that Clem has stopped responding to his enquiries. Reading twitter I note that others are not get much joy either from Clem or other prominent SER characters. Do not know what information FMX may have but I post their tweet fyi and to make of what you will. Charles Bourke ‏@CharlesB1977 Apr 14 @BrokermanDaniel @*************01 ********* @ClemChambers good ole Sefton just popped into my mind, hows she fair? #SER Joe ‏@MrJHesketh 2h2 hours ago @CharlesB1977 @BrokermanDaniel @*************01 ********* @ClemChambers Still no updates I take it? In reply to Joe /FMX_Gr" FMX_Gr ‏@FMX_Gr 47m47 minutes ago @MrJHesketh @CharlesB1977 @BrokermanDaniel @*************01 *********. The current sit rep would have pi's baying for blood. Exp audit.

As I am being accused of being "boring" and going over the same old stuff again, I feel I have the right to reply. I thank you for your comment " thoroughly nice guy" However, I am not going under the ' same old stuff again'. My last post (Friday) was new up to date research on this thread regarding asset matters relevant to SER possibly returning as a credible oil business. It highlighted BPC and its current weak position. Certain posters have referred to the Bahamas assets "waiting for us" We all know that BMD was the source of the Bahamas asset with "4 billion barrel potential" I think that, after reading the latest project numbers from BPC , you will conclude that SER's chances of obtaining such an asset were ' unrealistic'. This is important because there may be shareholders who bought into the SER story based on remarks posted in BMD's blog; http://guerillainvesting.co.uk/2015/07/10/sefton-resources-we-have-a-new-way-forward/ extract; "We, unlike the barefaced liars and pump & dumpers, do not hide behind lies. We tell it as it is. We are here to make money. It’s called the Stock Market. Any changes on Sefton, could involve bringing in further assets from the Bahamas if the Indonesian deal fails to complete. Assets that we are actively negotiating.That moment may or may not arrive." ===================================================================== "Assets that we are actively negotiating" How many Bahamas oil companies are there? How many with "4 Billion barrels potential?". One might fairly assume that BMD was claiming to have been in direct negotiations with BPC. Does that sound credible considering that they were looking for a very very deep pocketed partner? . The good news from my research is that their '4 billion barrel potential' area is still available. However, no-one wants to risk speculative deep offshore drilling at the moment. After all, there may not be any commercial oil there at all. I did some actual up to date research and posted something factual to the board that may be useful . Not a lot of that been happening recently. I understand that you do not like the inference that you've been conned. The guys to get really peeved with are those pumper dumpers. Did you really believe all that was blogged and tweeted? Chris Oil ‏********* · 2h2 hours ago 26th Oct 15 @paul18280 Sefton will not fold indeed it's on a journey to becoming the greatest oil company listed on world exchanges IMO

It appears that the company claiming to be sitting on billions of barrels in the Bahamas is BPC http://www.bloomberg.com/news/articles/2013-04-19/bahamas-expects-to-strike-oil-even-after-cuba-exploration-failed Extract ; "BPC is looking for a partner to raise at least $100 million to drill the country’s first exploration well in about 27 years. It holds five licenses covering more than 4 billion barrels of potential oil resources .." It appears that BPC is still looking for that partner with a super deep pocket as per their latest results; http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BPC&ArticleCode=2s6dbwee&ArticleHeadline=Final_Results_for_the_year_ended_31_December_2015 Extracts; "o Technical and engineering works completed, reducing the anticipated cost of the initial exploration well, targeting a total cost of $50 - $60 million" " At year end 2015 the Company had liquid cash of $5.048m and restricted cash of $545k giving rise to a total closing cash balance was $5.6m" Does Team CLEM expect to claw back $50 million ? I think not and SUPERSHARES fantasy that SER would not need high end investors is ridiculous. BPC is using words like "potential" barrels and "exploration well". $50 million is just the tip of the iceberg of funds that would be required. Ask yourselves the questions; why hasn't anyone else partnered up with BPC ? If only some of you did some research for yourselves and not listen to the pumper dumpers who have just used SER as a vessel to relieve you of your money by spinning ludicrous tales of "4 billion barrels waiting for us"

Back reading the board to see that "SUPERSHARE" continues to accuse me of being another. For clarification I am not TURNIP or DocH. Do not worry "SUPERSHARE" , you will not jeopardise the serious investigations. I am curious as to how much money has been spent on the solicitors you mentioned in the post below. 17 Dec '15 Just got back in. Part of the plan is to get some of the money back and Clem and mike are quite confident they can recover some of it. They also have legal stuff pending which they couldn't go into detail about because its in the hands of the legal team but they did say it will be very beneficial to the company. I think i can speak for most of the pi's that attended Mike and Clem came across as extremely genuine guys and that IMO they have really got the best intentions to turn this mess around for the benefit of the real pi's . ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ I would give those solicitors a kick up the Ar*e as they appear to be milking the situation. Looks like all the shareholders money is being spent on their fees. JE was "great" at wasting cash on legal fees. Not a lot appears to have changed. Its a shame that what's going on does not appear to include any actual business plan.

Forgot to add SUPERSHARE that I am "comfortably" liquid and never faced a bankruptcy petition, not like some others. Oilbeback. Send a private message to the group and you will receive enlightenment.

You are a sad man "SUPERSHARE". I am not TURNIP , good grief. These investigators are doing the business . You might like to follow them. https://twitter.com/FMX_Gr/with_replies FMX_Gr ‏@FMX_Gr 6h6 hours ago The world of share tipsters is mainly habited by self appointed, duplicitous, self serving, unqualified speculators. Invest carefully #tips ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ I look forward to the results of their work soon. CO "successful". You are hilarious; Mr 10.53 % hit rate. https://www.stockomendation.com/tipster/116/author/178/

Because I find people like you BMD and CO contemptible. You tell lies and abuse the naïve investor who swallows your tall stories. People like you need exposing and challenging at every turn .

RW is not my friend. Do not know her and never contacted her in any way. You tell us why the deals were not completed. You are reading all the e-mails, you will be able to tell everyone. My guess why SER could not get the super asset is because its only an "asset" (Kansas), is actually a $500,000 time bomb liability on its books that the company can not give away. The other small problem is how does a company acquire and develop a multi billion dollar asset with £300k?

"SUPERSHARE" 15 Oct '15 15th October Don't believe there lies this company has a big future. If it does delist it won't be for long the major players have fare to much invested not to turn thing around. 4 billion barrel assets in Bahamas just waiting in the wings. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ "4 billion barrel assets in Bahamas just waiting in the wings." Of couse they are. "SUPERSHARE" wouldn't tell a bare faced lie 4,000,000,000 barrels at say $30 per barrel $120,000,000,000 or easier to say $120 billion dollars. SER shareholders are going to be mega rich whoopee Is it still waiting ? When is SER re-listing?

"Are you still band of twitter " I do not have a twitter account.. You seem to have your own obsession with DocH . I am not him. I suggest you do some homework tonight; grammar and spelling. cue he uses the word troll yet again.

Another of "SUPERSHARES" assertions " I know for a fact." As if you are a credible source. Your posting record proves otherwise. You seem to be claiming to have very intimate access to all that's been happening, so, can I please take this opportunity to ask what's the position regarding the Kansas assets with its $500k decommissioning liability. Has a sale been agreed.? By the way ,I am not getting at the company; I am getting at YOU. cue he uses the word TROLL yet again lol

I hope SUPERSHARE can substantiate his allegation ; "....when you were trying to fleece Sefton and its pi's??????" So what responsibility do you accept "SUPERSHARE"? What do you say to any shareholder who doubled up or, to new shareholders who bought in on your "facts" Some of them might feel fleeced. SUPERSHARES posts; 30th Sept extract The fact is TEAM CLEM have a nomad and you and the whole market KNOWS IT ! .. 15 Oct '15 15th October Don't believe there lies this company has a big future. If it does delist it won't be for long the major players have fare to much invested not to turn thing around. 4 billion barrel assets in Bahamas just waiting in the wings. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Cue for SUPERSHARE to use the word Troll again.

Any sentence is up to the court to decide based on the evidence ; how much money was involved and any mitigating factors. The Section 3 offence effectively replaced the old offence of obtaining a pecuniary advantage by deception. As I say, study the Fraud Act; Imo the offence is complete. Before we get the chorus line from BMD apologists that "BMD saved SER , without his work the company would have gone to the wall" I should like all to reflect. Subsequent to his "saving" SER, how many of you sank more money into SER shares?. How many new investors bought into SER? Where is the money now?. BMD "saved" SER to then embark on cynical rounds of pumping and dumping committing further offences of market abuse.

Have a look at the Fraud Act 2006 Section 3. He had a legal duty to declare his previous name. As for lack of class, well, maybe. I am no-one special but at least I can recognise a wrong. https://www.cps.gov.uk/legal/s_to_u/sentencing_manual/fraud_by_failing_to_disclose_information/ Fraud by Failing to Disclose Information Date Produced: 5 July 2011 Title: Financial crime Offence: Fraud by Failing to Disclose Information Legislation: S3 Fraud Act 2006 Commencement Date: 15/1/07 Mode of Trial: Either Way Statutory Limitations & Maximum Penalty: 10 years imprisonment Sentencing Range: New offence - likely to be variable - see s1 Theft Act and obtaining offences.

Good afternoon swifty16 Indeed he did take and sell options. However , he did take an enormous salary increase which he previously stated he would likely politely decline; Extract; http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SER&ArticleCode=lsuttkda&ArticleHeadline=Board_Changes "Board has approved an increase in his remuneration for the period from his appointment on 3 February 2015 from the previously announced £1 to £50,000." The options and the £50,000 were obtained following a fraud; his taking a position on the board by failing to declare his previous name. Sooo much apologising for the man who used SER for cycles of pumping and dumping; that's REALLY boring.