Sefton - A tiny and very undervalued oil company

I have this morning had a telephone conversation with Jeremy Delmar-Morgan:

Jim Ellerton's purchase was part of a much larger order (JDM didn't say how large) placed with his broker at .25p. The broker probably had a seller and was thus able to fulfill part of the order at 25p. JDM didn't know if the limit order was still in place and if it was, he did not think it would be filled at that price.

JDM & David Millham visited Oilbarrel last week to keep them up-to-date with progress at Sefton. As a result Oilbarrel may provide an update to Sefton's current articles.

We discussed the overhang again. He thought that it would take about 6 weeks to clear at the current volumes.

The person responsible for the website is Gary Dillabaugh, the company secretary. JDM has asked Gary to update the articles and keep the website as current as possible, and he will ask again.

Sefton are going to drill more wells at Tapia Canyon, don't know how many or over what time span, but they do believe the oil at tapia is more extensive. One of the wells at Tapia is apparently directly on the fault identified by geologists. As a result the oil was heated and flowed better than expected. Thermal stimulation will be beneficial, and that will be used at Tapia in the future. They are remapping Eureka.

JDM said that two research analysts were looking into Sefton at the moment; Ian McClelland(?) and a guy from Hardman's.

The company is now cash positive on a daily basis, and he is very positive about the future.