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Sefton - A tiny and very undervalued oil company

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QUINAN - Wed, 14 Dec 05 :


In there Drilling program report it states 75 bopd is needed to become cash positive, form the interim’s, Oil and gas sales were $371,414 Oil and gas production costs were $204,947 so it costs SER $22.50 per barrel to lift. Now once they move above the 75bopd will the cost be reduced?
What I am trying to say is SER are paying the workers 24/7 if oil production is below 75bopd then it would cost more to lift each barrel of oil due to workers salary. Any thing above 75bopd then we start to see the costs reduced as the salary stays the same but revenue increases.
Am I just talking crap and need to have a lie down?????????

If not how much de we think lifting costs would be on 220bopd,



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