I ask you to cast your mind back to November 2012. The 15thto be exact. It was when AIM Cesspit listed Sefton Resources (SER) announced the acquisition of new oil operating assets in Kansas. It was all terribly exciting stuff.
The company stated that in an RNS of that day:
Competent Person Dr Nafi Onat has made a study of the oil fields in Northeast Kansas for Sefton, from which detailed information was announced on 12 March 2012. Below are some of the key points that he has made on the potential of this area for oil and gas production.
Analysis of 320 wells on 23 McLouth fields reveals initial average production was approximately 27 bopd and 350mcfg per well during the first month of production. Based on completion reports and deliverability tests, initial gas producing fields varied from 150 mcfg to 2mmcfg per day.
Frigging hell. Sefton paid only $200,000 for these assets and what is that about 27 bopd in month 1? Cripes this sounded exciting.
On December 7th 2012 Sefton issued shares to stop it going bust by Christmas. It raised c £700,000. But heck with those exciting Kansas wells surely this was a winner. Hmmmmm.
Now wind forward to this month
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