The Sefton Resources Fantasy Show continued today as the Sefton Pigs released blatant false October BOPD figures in an attempt to ramp up the sp to help Darwin Strategic dilute share-holders even further with an EFF Tranche of discounted shares!
We are now told that Octobers figure of 115 bopd is “Preliminary” and subject to a 4% shrinkage! It’s really laughable that this company are resorting to releasing “Preliminary monthly BOPD figures” while knowing that these figures have NOT been confirmed by California State authorities.
The FACT is that these figures are 100% guaranteed to be revised downwards (What’s the betting that the 115 figure shrinks nearer to 100?) Deliberate manipulation.
Still no mention of the Fox Davies Resignation last week but we are now being told that to implement the Dr Ali Steamflood report, which nobody’s ever seen let alone read, now costs $20 million dollars. More fantasy than fact as it’s not so long ago that the Sefton Pigs were quoting $50/$75 million dollars.
Of course with Debts racking up of over $12 million dollars, Bloated PLC Costs with ever increasing Cap-ex for an ever dwindling return (Known net Cap-ex loss of $15 million dollars since 2007) SEFTONS’ CASH IN HAND MUST BE CLOSE TO ZERO or a few hundred thousand dollars at best. Hence the desperate release of data that they know will be corrected downwards by the California State DOGGR. Their new NOMAD Allenby Capital should hang their head in shame!
A thorough read of the latest bull from Jimmy Liar throws up some interesting angles. We’re now being told that Dr (invisible) Alis’ steamflood report is due the end of 2012. 3 years (and God knows how many announcements of imminent release) later. What’s interesting here is this paragraph, buried down deep in the RNS RYDER BELOW all the contact details for their NOMAD, Broker, Investor Relations & company contact information. “The independent third party mentioned above has tested the model and are able to carry out a separate study to that of Dr Ali should this prove necessary in order to ensure that this project is completed in a timely fashion, and who may be engaged to provide a parallel study.”
So what Sefton’s floating here is the possibility that Dr Alis’ steamflood report may never be released and just in case it isn’t we’ll get Petrel to release one! This is a cynical attempt to lessen the blow should Dr Ali refuse to release his as of yet unfinished or unpaid for report! BEWARE of these cynical attempts by the Sefton Pigs to deflect away from their 12 years of miss-management.
The all seeing eye of BMD has spoken!
For those of you who can calculate simple mathamatics here’s the Monthly production figures for Sefton up to September 2012.
Date Oil(bbl) Water(bbl) Gas (Mcf)
09/2012 3,109 75,218 641
08/2012 3,002 67,043 645
07/2012 3,610 72,263 743
06/2012 3,042 56,970 605
05/2012 4,179 70,303 686
04/2012 3,420 68,706 487
03/2012 3,403 72,539 617
02/2012 3,847 69,643 575
01/2012 3,848 65,211 370
2012Total 31,460 617,896 5,369
As you can work out for yourself the figures are a damning indictment of the doctored BOPD figures being released by Sefton. Bankruptcy looms ever larger.
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