More Kansas piss & wind came yesterday via a Sefton Resources Kansas production update. Yes 1.5 bopd per well at a cost of $15,000 dollars per well 11 wells that we know of. Yet more fantastical claims. This time it’s Fraccing! Mississippian Limestone Horizontal plays. Here’s how the form book runs with Jimmy fingers. We all know they are operating with net cash of close to zero.
You may notice that this latest fantastical claim has been made by Sure Engineering LLC. A report on the Mississippi Limestone of Leavenworth County. Of course those in the info loop will know that Sure Engineering LLC is in fact run from a PO Box. It is a paper company, No Office, No Desks, No Web site and best of all No Staff whatsoever other than? Guess who? Ibrahim Nafi Onat or as Jimmy fingers likes to call him ‘Dr Nafi Onat’.
Just why Mr Fingers isn’t reporting that Nafi Onat is the author of the report is patently obvious. Onat is a paid consultant for Sefton with many years service indeed Mr Onat even gives Sefton’s Colorado address & telephone number as a point of contact. Let’s not forget that Mr Onat has also released various fantastical CPR reports which throw out ridiculous PV10 figures based on largely UNPROVEN guess work. By the way Sefton are in breach of AIM Guidelines regarding the independence of Competent Persons.
You can correlate every placing this bunch of bullshitters have made. This is how they work it. RNS’s, Investor relations chats with Dr Dolittle Green, News letters and Paid for Presentations masked as “Independent Research” MRQ (Roland tells me that SER send in the copy they just get paid to publish it) & Hardman&Co . (Tell me that Sefton set the criteria as to what they can & can not write about) MiningMaven, well they’ve refused to answer my questions which is why they will be made a ‘witness of fact’ in the forth coming libel trial. (Summonsed to appear)
Here’s the form book.
1/ Hardman& Co paid for marketing (Masked as genuine independent research)
2/ MRQ Paid for Marketing (Masked as independent research)
3/ Lots of bullish RNS statements BEFORE the AGM and just after the AGM including a series of deadlines all falling within a few weeks.
4/ More talk of imminent gas deals just on the horizon. (Deals that never come off)
5/ Tapia temporary blip increase in bopd. (Always falls back coincidentally just after placing. Strange that init?)
6/ Updated CPR reports from Nafi Onat giving out fantastical PV10’s that never ever come true.
7/ Updated CPR Reports from Reed W Ferril & Associates Incorporated. (You know another one man band company operating out of a back-room of a house)
8/ A nice shiny comprehensive marketing brochure, using super positive language putting the best possible spin on the company. (Dowgate Clients beware)
And now for the crème brûlée
9/ Allusions to the release of the 3 years late Dr Ali steamflood report!
10/ Calls to the faithful to flood the internet chat boards with the ridiculous claims!
But what really takes the biscuit here is that they’re trying to once again change the focus away from Tapia Steam Stripper wells, away from Kansas stripper wells, away from Redundant Gas pipelines with the imminent signing of Third party customers. They’re now telling us all that East Kansas Horizontal drilling is the saviour. “Fraccing” costs at least $5/6,000,000 million dollars per well.
Check out the Kansas Corporation Commission site click HERE on the map you’ll see that there’s absolutely no Fraccing whatsoever either on-going or intended for Eastern Kansas as for Leavenworth county it is yet another Ellerton fantasy. The Kansas Department of Commerce states thus; The MLP is a porous limestone formation that encompasses areas of northern Oklahoma, and southern and western Kansas. The region was considered tapped out by vertical drilling decades ago, but a technique known as hydraulic fracturing (also called fracing or fracking) in combination with horizontal drilling has the potential to significantly revive oil and gas activity in the region. You’ll note the absence of the words “Eastern Kansas!” Click HERE They’ve concocted their own “Mississippi Lime play” one that isn’t on the Kansas Dept’ of Commerce radar! It’s another shocking fantasy to hoodwink UK Investors into parting with their hard-earned cash to perpetuate Ellerton’s Hawaiian lifestyle. Eastern Kansas Fraccing doesn’t exist.
At the onset of the 21st Century, innovations in drilling technology led to significant increases in production in several U.S. oil and gas plays previously considered nearly tapped out or not highly productive. In the Bakken shale play in North Dakota, use of techniques combining horizontal drilling and hydraulic fracturing, popularly called “fracking,” resulted in a dramatic increase in drilling and production. As the Bakken was proving profitable, exploration companies began targeting oil and associated natural gas in the Mississippian limestone play of Oklahoma. Following successes there, companies bought mineral rights in areas of southern and western Kansas, where Mississippian rocks and associated petroleum production extended into Kansas (fig. 1).
Figure 1—Boundary of the Mississippian limestone play in Kansas. It doesn’t go any where near Leavenworth, Jefferson or Atchison counties! At is furthest point the Kansas MLP is over 440 miles away! At its nearest point it’s 250 miles away!
And whose telling us this? Dr Nafi Onat via another paid for research report! At best it’s a hypothesis! It’s bollocks!
So there you have it here comes the placing.
Well some body has to pay Gary Dillabaugh THE $800 thousand dollar judgement awarded against Jimmy fingers in the Colorado State courts. And don’t forget Jimmy Digits has had an awful lot of charges for serious driving offences and assault!
PS. Of course you could (if you had wanted) find this all out for yourselves by Clicking HERE