Sefton Resources Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9669592
I thought some sort of transfer between MM's but with both being buys it left me a bit confused

These transactions have had a major effect on the reported daily volume which may possibly confuse those that buy in using volume as an indicator

Cheers

Mikey
By Mikey-b ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9669592&action=detail Tue, 22 May 2012 14:03:00 GMT Mikey-b tag:iii.co.uk,2003:tst.9669380 http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9669380&action=detail Tue, 22 May 2012 13:20:00 GMT kostiankur tag:iii.co.uk,2003:tst.9668786 Anyone got a clue as to what could be behind the 2 buys shown below?

It struck me as odd that they are for exactly the same very odd number - plus they are very large of course!

9:50:11 1.7p 4,035,713. £68,607 1.6p 1.7p BUY O
9:50:02 1.69p 4,035,713 £68,204 1.6p 1.7p BUY O

Cheers

Mikey By Mikey-b ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9668786&action=detail Tue, 22 May 2012 11:15:00 GMT Mikey-b tag:iii.co.uk,2003:tst.9665210 ')" target="_blank" rel="nofollow">http://www.miningmaven.com/k2/companies/sefton-resources/sefton-resources-qa-with-chairman-jim-ellerton/

It looks like we will be doubling our assets in Kansas.

OF By OilyFish42 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9665210&action=detail Mon, 21 May 2012 12:10:00 GMT OilyFish42 tag:iii.co.uk,2003:tst.9663334
Here's my take in summary and in no particular order:

Positives

Production at Tapia: drilling of new wells, workover programme, cyclic steaming and steaming pilot

IR programme: MG editorial (Newsletters, MRQ, Oilbarrel, Miningmaven); JE interviews and presentations; Research Reports (GE&CR, Edison Research, Hardman & Co)

Business accumen and vision: Alternative revenue streams from Kansas; Spotting opportunities and deal making

Industry competence: Appointment of Dr Ali and Dr Onat

Market competence: Appointment of FDC; IIs starting to invest

Finance: Making a profit on lower production; Preliminary accounts out early

BoD shareholding: 10% holding


Negatives

Production at Tapia: Lower than 2010

IR progamme: Taken a while to get going

Market Competence: Appointment of Northland Capital Partners; RNS timing and content; Over promising and under delivering (240 bopd projected Q1 12 and Dr Ali's report late); Broken promises to shareholders (Dilution)

Finance: Situation with CFO; Placement pricing and timing

Industry competence: the 4th well; availibility of workover rigs

BoD shareholding: Private share purchase

OF By OilyFish42 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9663334&action=detail Sun, 20 May 2012 20:16:00 GMT OilyFish42 tag:iii.co.uk,2003:tst.9663129
Positives

Much improved IR - even 'non-news' items get splashed across lots of different media and the editorial content is unfailingly positive and upbeat. JE interviews pretty well - he comes across as very credible and down to earth. JE being in the UK for 3 months was a good boost to IR I thought. Or at least it should have been.

Moving to FDC - I think this issue has not been given the level of attention it may deserve - to my mind FDC are the leading brokers / advisors / analyists for the resource sector and their publications are IMO very good and credible and I suspect a lot of pi's do take their views and analyses very seriously - profile raised and better advice avilable as a result

Attracting ii's to invest in the company - increases credibility and confidence as pi's assume that ii's are party to increased levels of information whether this is admitted or not. The ii involvement will also start to remove some of the share price volatility and help to transition the share from trader to investor 'status'

Tapia limps slowly forward to possibly achieve the forecast 240bopd maybe during Q3? Just a positive for now.

Kansas pipeline development looks to be about on schedule but one to watch for slippage on

Additional acreages in Kansas have been leased - SER seem to have gotten into Kansas very well before th oil rush really kicked in and as a result they probably secured very good deals

Overall the SER BOD do look to be very good deal makers, the are able to get in early and spot opportunities 'amidst the rubble', they obviously have vision and reasonable business acumen

The BOD are still major shareholders in the company so they have a natural alignment with shareholders but some of the negatives below. Have eroded this perception I feel


Negatives

The 'double tap' placement looked botched and amateurish - maybe part of why SER moved to FDC?

The slightly mysterious private share transaction. This transaction could have allowed th ii's to reduce their offer in h recent placement - basically the BOD could have shown th ii's what valu thy up on the shares Themselves? If I then a double blow to us pi's

The mildly annoying lack of forthcoming details for the above transaction even after shareholders fed back the negativity that it caused

The last 'oversubscribed' placement. Wrong time - a couple of months later at a higher sp would have made much more business sense. Price too low - telling us all it was oversubscribed did nothing to rise the morale of existing shareholders. Looks like a sop to FDC I suspect for arranging the EFF. Or SER were desperate for the cash for some reason we do not know of as the accounts did not show a need for cash in a hurry - there were no glaring liabilities / contingent liabilities etc in the accounts that I could see and also JE was a pains at every turn to tell shareholders no placement was coming - I for one was suckered in on this one and unfortunately for SER all of us that were will not be too forgiving about this in future. I could have accepted a hugely discounted price to get in a 'cornerstone' ii but not for their hangers-on too

Tapia developments have been delayed and some of the reasons should have been easily forecast such as low availability of work over rigs. My main problem here is that the BOD were a little foolish in telling us 240bopd early 2012 and then missing their own target. Why not say mid 2012 originally and then possibly overachieve? Looks amateurish for no reason


Interestingly I feel, a lot of the positives are directly related to the wok of Michael Green and I think th BOD were very wise to get him involved - I suspect he got SER into FDC and into the ii's as a result

I think the BOD currently get about a 6/10 from me for the past 12 months, however we will know much better over the next 2-3 months whether that assessment is too severe or not severe enough.

I rea By Mikey-b ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9663129&action=detail Sun, 20 May 2012 18:06:00 GMT Mikey-b tag:iii.co.uk,2003:tst.9662413 I do feel slightly more positive re' the EFF funding stream maybe. I think that we have now removed the opportunity for knockers to bash SER on the basis that they may have the assets but will never be able to fund their development in a reasonable timeframe - a reasonable criticism until the last RNS.The 'over subscribed' placement was annoying - of course it was oversubscribed as the price was far too low - well below what I believe is the company's break up value which is daft.

I will post my thoughts on positives and negatives in a while once I am back on my iPad as I struggle to type properly on the iPhone but here is another thought below.

Chesapeake Energy based in' Oklahoma are the US's specialist in shale plays. They are expanding their MLP into Kansas but have run into financial difficulties. They are now selling assets and looking to do JV's and whilst SER has no chance of partnering Chesapeake I do wonder if scraps may fall from the table in the process that we could be well positioned to pick up and maybe that's what some of the 10m EFF could be used for?

Pice on Chesapeake inserted below.

Cheers

Mikey


As the share price has tumbled 44% this year, Chesapeake is setting itself up as a candidate for an activist investor to step in.  Interestingly enough, if you take a look at the big hedge funds’ holdings of Chesapeake, you will see that Carl Icahn has been slowly building up a stake since 2010.  There is no clear indication that Icahn is looking to take over Chesapeake but certainly it has the financial world talking right now.

Some say that Carl Icahn will end up taking the firm over and trying to sell it to Chevron Corporation (NYSE:CVX) who has very weak shale exposure in its portfolio, making Chevron a very possible buyer. Other buyers include TOTAL S.A. (ADR) (NYSE:TOT) and BP plc (ADR) (NYSE:BP) who are looking to build up their American oil shale stakes.

Chesapeake is definitely going to be slimming itself this year as it looks to cut its stake in the profitable, Permian Basin as well as the Mississippi Lime oilfield, etc.  The problem with some of its assets that they are selling is that they require more capital to fully get the fields in operation which could be a financial strain to some companies that aren’t flush with cash. By Mikey-b ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9662413&action=detail Sun, 20 May 2012 10:43:00 GMT Mikey-b tag:iii.co.uk,2003:tst.9661373
Sorry i have not been on the BB all week , when the EFF was announced it was clear the market was not going to like i,t allthough it is a way to gain extra financing it is not something i think they should have done, what it lacked was clarity on what this money was to be used for again the BOD have messed up imo allthough a placing is the dearest option i actually think that the market would have prefared this so i thought it better to ride the storm out by not switching on . I cannot say i am surprised in the drop but did not think it would have been so severe, what they need to do now is tell us what they are going to do in clear speech that everyone can understand. It is good that we have got the first II on board but it is at a cost.
As for the positives well there are numerous , starting back to May last year the competent persons report and the huge spike in sp at the time got us loads of new investors allthough a lot was caught with the spike it definatley brought us to the attention of the masses, one of the down sides to this was the day traders that comes with fluctuating sp's and the numerous rampers and derampers ( LSE BB ) prime example , that have done little research and are unwilling to wait for the sp to react like they think it should. ( they all want to be millionaires overnight , i think they would be better off staying with the lottery ).
The company has really started to get it's act together with the I,R , the presentations they have done changing broker the news letters the website updated regulary ( i wish here that they could put weekly / monthly outputs on the website ) the official news (rns ) they have done are all good even though the sp has taken a knock after some of them.
They have made good progress with both Tpaia and Kansas, the low point with Tapia was the constant delay with the report by chemical ali and the drilling of the fourth well ( license) issue , the upside is that with the 3 new wells and the workovers the oil is now starting to flow last update said that 220bod had been reached when that is the norm we will see the sp rise accordingly.
Kansas they are on target to sell gas as stated the pipelines are on target , agreement with southern star all went well , what we do need to see here is what are we going to produce as a company to put into the pipeline and sell for oueselfs it is not enough these days to just state that we have got leases , we are going to produce CBM / we are going to sell 3rd party gas etc what we need is clarity who's gas are we selling what volume what price what are we going to do and when, when are we drilling ? whats the plan ? the market needs to know these things so that the company can be valued accordingly
The company has also stated that there is a possibillity of joint ventures / farm ins again lets have some clarity ,let the market know who we are freindly with so to speak .i would love to see the reaction if they thought someone with the might of OXY was wanting to do buisness with us, i actually think that some of the fancifull sp figures that have been branded about at times could be realised if we had the gumption to release this and take the bull by the horns and actually tell II what was going to happen .
Sorry if this is not in the format you wanted TF but this is my thoughts FWIW

Stick
By stickfloatking ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9661373&action=detail Sat, 19 May 2012 12:53:00 GMT stickfloatking tag:iii.co.uk,2003:tst.9659631
Can you all please note down your recollections of SER's management performance in the last 12 months

I am going to do the same myself, when I have time to write it up

In particular what can you think of that they have done, which is positive or neutral

I would put the fundraising in the neutral column for now as what matters is what they do with it

I don't want to start banging on about the things I usually mention, but it would be good to see the positives

OF?

Mikey?

Stick?

BS?!
By technicalforecasting ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9659631&action=detail Fri, 18 May 2012 16:13:00 GMT technicalforecasting tag:iii.co.uk,2003:tst.9659606

Learned a real lesson in the last few days on RMP and RNS announcements. As you will see from my posts in this thread, I had been troubled by RMP's drop, but was encouraged by Monday's BS announcement

Then yesterday happened

I haven't realised any losses yet, but this drop has been extremely painful

I am sticking with RMP, because I have done some calculations and they stand up reasonably (need to emphasise that word) well to the declared oil discovery, if it proves to be commercial

The reason I post here is so that you may all learn from my misfortune

The ticker doesn't lie By technicalforecasting ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9659606&action=detail Fri, 18 May 2012 16:09:00 GMT technicalforecasting tag:iii.co.uk,2003:tst.9657847 http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9657847&action=detail Fri, 18 May 2012 11:09:00 GMT physco 252 tag:iii.co.uk,2003:tst.9656076 http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9656076&action=detail Fri, 18 May 2012 06:49:00 GMT spotonagain tag:iii.co.uk,2003:tst.9655414
another thing that i keep thinking about is that there are many companies that are undervalued because of the greek mess, and this should open the door to many company takeovers. I'd say that Sefton is a prime target, too many cash streams to tap into

Also - anyone know that Deramper Buller, please tell him that Andy was the star in the 40 year old virgin! Go on LSE and let him know. He's one of the problems of some aim shares, he is trading the dip and peaks (long and short) and spreading doom and gloom unecesarily.

is there anything negative going on at sefton. I'll not consider selling any until 10p


Adsy By adsy72 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9655414&action=detail Thu, 17 May 2012 21:18:00 GMT adsy72 tag:iii.co.uk,2003:tst.9655340
Jay By Jay24 ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9655340&action=detail Thu, 17 May 2012 21:00:00 GMT Jay24 tag:iii.co.uk,2003:tst.9654332
No offense to the poster intended as I do nit think I have come across them before but it's interesting his they find the time to post so much on a share they only have a tiny stake in and that they keep that stake when they have such a negative view if the company
From what I can make out EFF or SEDA can be excellent arrangements but when used by companies that have no income stream and are developing difficult assets then a continual drip feed to just pay bloated overheads can clearly be ruinous

It is all down to the management and how they perform

Blaming a funding mechanism misses that point I feel

I do not think buying nearly 5pc of the company is a tiny stake even at the knock down price - I think it shows real commitment and hopefully the stake will be increased and also encourage other ii's to invest in future

The funding stream also as you said earlier now removes the doubt about how or even if we will be able to fund at least Kansas

My take is the EFF is to fund Kansas primarily and Farm Diwn arrangements will fund Tapia steam flood

That's why we got the EFF first and farm down will come later as SER can only attract a farm down partner once they have the full picture from Dr Ali's work as to what the steam flood proposal will cost and more importantly if it will work

Maybe our pater was keen to help to talk down the market and get an even better buy in / buy back in price?

I have to admit I may have to raid my holiday fund at these prices and buy more - just don't tell the missys!

Cheers

Mikey By Mikey-b ]]> http://www.iii.co.uk/investment/detail?code=cotn:SER.L&display=discussion&id=9654332&action=detail Thu, 17 May 2012 16:20:00 GMT Mikey-b