News Flash On The Aim Market Message Board

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Gold/Mining/Energy : News Flash On The Aim Market

LSE 5.220

-0.8%

Nov 7 9:30 AM EST

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From: miningoz	5/1/2014 4:58:32 AM
	of 161

Broker puts Sefton Resources out as a ‘screaming buy’ as rumoured JV emerges A well known city broker has rumoured to have cited Sefton as a screaming buy with Jv news possible in the coming week, Sefton are at present in a closed period and investors wait for long awaited good news, rumours are the news is close. About sefton a major transformation could occur if the group decides to go ahead with plans to use a process called full field wide steam flooding. Currently it is cyclical steaming individual wells where steam is injected into a producing well, which is then shut-in for a short time before being put on production again. several industry partners interested in looking to see how they can work with us to develop this asset,' said chairman. 'The size of the capital required is attracting some interesting potential partners.' In Kansas it has 50,000 acres in the Forest City Basin prospective for coal bed methane and conventional oil and gas, more than 56 miles of gas pipeline, and a 10million cubic feet a day gas processing facility. The pipelines were picked up for approximately $300,000 - and already they look a shrewd investment. Initially at least they will be used to liberate the region’s stranded gas deposits thanks to its link into a national distribution network. 'Anyone who wants to sell gas in that area of Kansas has to go to Sefton. proved reserves of Tapia and Eurka Canyon, its other California asset, are valued at $138million. So clearly there is a disconnect between the current 0.17p share price. The City research firm Edison Investment Research has come up with what it calls a 'risked exploration net asset valuation' of almost 12p a share. Meanwhile, independent research house Hardman & Co has placed a 15p target price on the stock. And its analyst Stephen Thomas has acknowledged that the impact of bringing the company’s Kansas acreage into production could more than double the net asset value per share to 32.9p.

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