Tag: Sefton Resources

Exposed X ShareProphets Editor Ben Turneys attempt to extort cash from? Sefton Resources!

Investors were aware that I received £600 from The Times last year, after Marcus Leroux breached my copyright. But unaware that I had made a second official press complaint against The Times regarding the stories they ran in 2015. I made that complaint for several reasons; 1/ To seek answers to unanswered questions on ‘Proposition 1’ & ‘Proposition 2’ 2/ To expose the lies and duplicity of the self confessed Drug Dealer the then editor of ShareProphets, Matthew Ben(t) Turney.You can read all about his Drug Dealing HERE 3/ Let The Times & Leroux know that regardless of whoever seeks to demonise me, it will never have any effect on my career, business OR shareholder activism. I am teflon.

Until now I couldn’t write about the complaint due to Independent Press Standards Organisation (IPSO) regulations on confidentiality. The publication of that complaint, READ HERE, now allows me to write this article and name names on the disgusting attempt by two cretinious individuals to extort cash from Sefton Resources, while running a Sefton Shareholder action group.

Charlatan. Inspector Clueless

I am now free to expose the shocking truth behind the attempts by Turney, who was the ‘editor’ of ShareProphets at the time and to use that position, to extract thousands upon thousands of pounds of cash payments from Raylene Whitford, the now disgraced SER CFO. Yes that’s right Turney who got his 15 minutes of Andy Warhol fame with a by-line in a national newspaper was after Sefton shareholder cash! The then editor of ShareProphets, had teamed up with a chap named Gary Bullivant, a pompous, but nevertheless, distinguished retired army officer living in the lake district. Just quite how Gary ended up turning into a Walter Mitty character and a BBMoron I put down to the corrosive influence of Turney. Bullivants CV as a British Army Officer is second to none. Being a strong supporter of our lads/lasses in uniform, I ‘cut him some slack’ and will not demonise him or release any of his personal details. Rather let him reflect on how he became embroiled with a charlatan. Turney never thought for one minute that the damning evidence would ever see the light of day. He thought it was all destroyed and had got Raylene Whitford to do just that! Not so Mr Turney.

For the record I need to state that Tom Winnifrith and ShareProphets writers were unaware of the cash extortion attempts. (Just as they were unaware of his drug dealing history) Turney had concealed it. ShareProphets and all their writers are completely innocent. In fact when the schoolboy plot to extort cash was brought to the attention of Tom, certain pennies began to drop. Info from SP sources was finding its way into The Times. Turneys days were numbered. Winnifrith quietly eased him out. Back to the Bulletin Boards he went, which is where he came from. Apparently Winnie plucked him off the www.lse.co.uk asylum where he now festers, using a host of fake identities, howling into the madness that holds domain on that site. If you listen carefully you can hear it….. RRR, ADL, NEW, AFPO. But I digress. Back to the article!

Proposition 1 & Proposition 2.

Throughout the 1st half of 2015 Turney had been ‘grooming’ Raylene Whitford SER CFO, as one of his sources, Whitford eventually got suckered into releasing market sensitive and confidential information to Turney on an industrial scale. Folks will remember the volume of poisonous articles on ShareProphets.

When the new team eventually took control after the EGM fight, they found what can only be described as a destruction of company email records. Those records were recovered after they were deliberately deleted. Indeed Bullivant/Turney also implored Whitford to delete all their correspondence. There are literally dozens upon dozens of emails, texts and records of telephone calls between them. During the investigation, trying to track down where all the cash had gone, they came across an email mentioning a ‘Proposition 1’ this lead to further discoveries of Bullivant/Turney deleted emails and documents. On 1st July 2015 Turney/Bullivant had contacted Whitford with a formulated plan to extort cash from Sefton. That plan was titled “Proposition 1” In Proposition 1 (Dated 1 July 2015) Turney sought payments of thousands upon thousands of pounds for ‘Investigative Services’. The self confessed illegal highs drug dealer, stated that he was working with a ‘Private Investigator’, who later turned out to be Gary Bullivant (Walter Mitty).

The haranguing of Whitford to pay Turney cash continued into September 2015. The pressure must have been immense, remember she had taken the bait passing him inside market information over a considerable period of time. Turney knew this and continued for months trying to ‘charm’ Whitford to get his hands on SER cash. The threat of exposure, by Turney in a fit of pique, as his source must have weighed heavily on her mind.

Gary Bullivant ‘Private Investigator’

In Proposition 2 (dated 15 September 2015) a financially watered down version of Proposition 1, Turney demanded £3,750 and a rate of £350 per day plus expenses. Turney/Bullivant also wanted “a letter of authority to act as a Company agent with regard to this enquiry is issued and that the right to use Company headed notepaper is granted. This use would be subject to all final documents being released to non-Company personnel by an authorised Company employee as determined by the Company. Access to the Company office in London, a desk, computer connection and telephone would be authorised for the investigator”. Looking back at it now it is truly insane, and reflects that of the mind of a nutter who found God while labouring on a building site at a Convent in Sweden. The boyos also promised a “scoping study” but never demanded a cuddly toy! Hilarious.

Fortunately the real power who was running Sefton Resources, and their solicitors, saw through the attempts and killed it off for a myriad of legal reasons. (One being that Turney had sought to corrupt regulated individuals by demanding confidential information from the Nomad).

Copyright Thief Leroux!

It (My IPSO complaint) has been a pain in the arse for Marcus Leroux and The Times editor. But it is now extremely embarrassing for ShareProphets whose editor tried to basically pressure cash money out of a company they were demonising. The IPSO full committee hearing into their practices should serve as a warning shot across their bows. It always comes out in the end. The complaint itself was never going to be upheld. Most fall away and never get to a full committee hearing. Such is the way of press complaints even more so by ex armed robbers.

To get over the hurdles to a full committee hearing the complaint has to have merit. (The complaint I lodged got to full committee) By lodging the complaint and getting it to committee the extent of Turney/Bullivants nefarious activities was disclosed and can now be read by you, the retail investors. It is absolutely shocking! There is a question still unanswered. Just how many companies has Turney tried to extract money from in similar circumstances?

As a post-script it once again high-lights the duplicitous nature of the ‘Chuckle chuckle’ drug dealer come sacked ‘editor’, and self styled ‘investigative journalist, aim investigator, labourer, failed businessman and drug dealer’, It’s a dirty, dirty game this AIM!

Take a bow Inspector Clueless, Matthew Benjamin Turney.

Viva!

Dan

7 May, 2016
2016 Full Frontal Assault!

2015 was a year of change for me personally, from being outside of the corporate tent pissing in I managed to get inside the tent and stopped those within it from pissing out. The team negotiated down millions of dollars worth of debt and managed to bring a revival in the SP with new finance and an asset deal that only needed signing off. I enlisted the help of many good CEO’s three in particular deserve a mention in dispatches. These men gave me advice and their valuable time without ever asking for one single penny piece or receiving any money whatsoever. They did it because they are decent honest men and knew the importance of aligning a company with shareholder value. So in 2016 I’d like to personally thank James Parsons (SOU) (who actually spent his own money on conference rooms, lunches, advice and introductions) and Matt Lofgran (NTOG) who must have spent hundreds of pounds on international calls. Although Matt has now been somewhat swayed into the arms of the Pump & Dumpers, he is a man of integrity. Lastly but not least Clem Chambers (ADVFN) who paid for his own flights, accommodation, meetings/lunches etc. In the USA and was instrumental in negotiating down $4,500,000 of bank debt.

Regardless of the shite that was fed by Sefton to the likes of Winnifrith (who by the way was offered a directorship in Sefton by me at the time we were organising) ShareProphets and LSE Trolls, (One Troll in particular was being lined up for a directorship by the now disgraced former management) to smear the requistioners, Clem with Mike Hodges have now once again taken up the Sefton cudgels on behalf of all shareholders, fighting to save the company and saved it was.

The Nomad, who was owed a huge sum of money, which was paid in full, told me post the lifting of the Bank of the West debt that “Quite frankly Dan no one gave you any chance of doing what the previous management couldn’t”. A previous management, some of whom, had been taking hundreds of thousands of dollars in fees, expenses and shares. Of course I’m referring to Sefton Resources. Now delisted and being re-structured. The moment myself and Clem Chambers departed leaving the company fully financed and in a position to deliver was the beginning of a return of those who had been fleecing shareholders for years. The now ousted board (Tom Milne being the exception) and departed employees, couldn’t give a flying fuck about their shareholders. What I discovered and always knew which was completely vindicated, was that the vast majority of AIM corporates have no regard whatsoever for their shareholders. It is on that basis that I am of the opinion that direct shareholder actions are the only way to influence these ‘corporate bastards’

At present we have several ‘Actions’ ongoing behind the scenes. Funds are being put in place for full frontal assaults on these ‘several’ AIM resource companies. More of which will no doubt become apparent over the coming months.

So the gist of this article is to make investors/traders aware that if you want to have any impact or influence on the companies you trade and invest in then you have to get out of your google/twitter/chatroom bubble. Change can be effected the secret is a union of shareholders. 2016 will be a year of fireworks.

It’s going to get real dirty

Viva

Dan

2 January, 2016
Sefton Resources Why we are backing the EGM!

Vote for success! Vote Yes to ALL 5 Resolutions!

We are activist share-holders and the role of activist share-holders is to create a set of circumstances where the management is working for the benefit of share-holders at the necessary pace to create success and it’s therefore good to see that the flurry of activity within the Company has increased exponentially within 2 days of the requisition being validated. That is share-holder activism in action. Share-holders will have to decide whether the people responsible for this change in pace i.e the activists and their nominated proven successful nominated board appointments or those responding to pressure should be running the business going forward re it’s turnaround.

It’s now game on for the hearts and souls (votes) of the long suffering Sefton Resources (LON: SER) share-holders. We had inundated Clem Chambers (Chief Executive Officer of ADVFN) et al over a period of time with emails and requests for help to call an EGM to get the company back on track. It has taken months of dogged determination not by one or two people but by a LARGE group of dedicated Sefton share-holders. The three names on the requisition represent over half a billion votes alone.

I personally decided to get re-involved as a share-holder activist. A share-holder who is entitled to protect his/her investment via legitimate share-holder action. Every thing thus far that has been done has been done in the best interests of all share-holders. The calls for an EGM have come from far and wide. The problem share-holders had is that the effort required to organize an EGM for a company registered in the British Virgin Isles is Herculean. BVI company law is specifically designed to thwart share-holders exercising their rights. For everyday folk it represents an impossible barrier. That barrier has now been smashed.

Retail investors (Most any way) are not millionaire playboys with time on their hands they have to work and bring up children, which in itself is a full time 24 hour job. Calling for an EGM is easy, actually committing to organizing one is a minefield of corporate law that can at each and every step blow up.

The failed Sefton board have now come out screaming like whirling dervishes. Throwing mud at the requisitioners, their very own share-holders! It is Clem Chambers and Michael Hodges who are running the show on all all corporate matters, not the 40 share-holders in the action group! We are quite rightly outside and will remain so.

Throwing mud is the last desperate act of a failed regime. A regime that should have closed off the Ellerton $500 ‘greenmail’ writ immediately. A regime that should have closed the Indo deal. A regime that should have closed the Kansas sale. A regime that has given $750,000 dollars to Rob Shepherd, whose name has now mysteriously vanished from all company RNS’s….. A regime that has at each and every turn stuck two fingers up to their own share-holders.

I am proud of ALL the SER holders who have tirelessly worked for this moment in time. Share-holders can if they collectively work together effect real change. Change that will bring in successful, proven financial corporate management with oil & gas assets that not only put production on the books, but allow for a huge exploration program that if successful will transform SER in to a genuine oil production company. The sector is awash with distressed oil companies/assets. Production can be picked up at low value while the oil price is at rock bottom. The new management team will come in and seek to close deals already tied up and further improve the quality of the board. It is my belief that big name CEO’s, have been approached. CEO’S with Oil & Gas backgrounds who know the value of the assets and how to develop them.

I’m voting for all the Resolutions at the EGM which will be held on 6 October 2015. I urge any and all share-holders to Vote for success and get Sefton Resources back on track.

Daniel Levi (Sefton Share-holder)

11 September, 2015
Master Investor Show 2015. Free Tickets! Use code BMD2015

As you all know Sefton Resources Inc. (LON: SER) are presenting at the Master Investor Saturday April 25 2015. I look forward to being there in person. To push the case of what I believe are compelling reasons why you should research Sefton Resources. Soon to be renamed. More of which at the Master Investor show.

So with out further adieu. Let’s get down to business. We’ve managed to twist the arm of one of the most influential investing gurus in world finance. Jim Mellon. Or as I like to sycophantically call him ‘Mr Mellon’ One has to give respect to a Sefton share-holder. Especially Jim who has helped UK Share-holders no end. We’ve got free tickets for the show and there’s a discount code. BMD2015 Use the code. CLICK HERE to get your free tickets. Repeat FREE TICKETS

Master Investor 2015. FREE TICKETS!

It’s set to be a fantastic show with big names headlining. Jim Mellon, Nigel Farage, Evil Knievil, Zak Mir (Cat), James Ferguson, Merryn Somerset Webb. There are two British hero’s and I mean real hero’s attending. Sir Steve Redgrave and a man who epitomises suffering and courage in the same breath Mr Simon Weston OBE. Brings tears to my eyes just thinking about this chap.

There’s approx. 100 or so Companies attending and presenting. CEOs and Directors will be in abundance and unable to dodge your questions. Get down there and have a super day. Who knows I may even buy you all a coffee.

Viva

Dan

13 March, 2015
Sefton Resources. The new way forward.

Statement

The SaveSure Consortium & Mr Daniel Levi

Sefton Resources Inc.

During the course of 2014 the SaveSure Consortium (Consortium) has monitored & tracked unfolding events at Sefton Resources Inc. (LON: SER). The aim of the Consortium was to consult leading City of London Financiers along with leading Oil Executives & businessmen/women on the potential for a change of direction and turnaround of Sefton.

SaveSure are a Group of High Net Worth Individuals & successful, respected financial winners. Business people who have helped to finance and advise vis-a-vis a reversal of fortune for the Company. Over a considerable period we have at various times been in & out of negotiation’s with Sefton regarding proposals for a turnaround. Proposals that include new producing oil assets, a fresh management team, consisting of a current Chief Executive Officer of a respected leading London listed oil Company, another a leading FCA regulated Financier, both have agreed terms to take active management roles upon the lifting of the Bank of the West cross guarantee. Their track record is one of success. New producing assets which are subject to Non Disclosure Exclusivity Agreements are also provisionally included in the turnaround strategy. Assets that are currently producing 250 bopd with a real potential to rise in excess of 800 bopd after workovers..

Hundreds of hours of costly Due Diligence involving meetings, conferences & flights to Asia, with the various interested parties, including face to face meetings with Sefton Directors, Nomad, financiers & stakeholders proposals outlining the proposed restructuring of Sefton Resources Inc. were agreed (delivered to the Nomad and the Board of Sefton on 18th January 2015) whereby the management of the Company be handed over to a sector experienced, high energy, action-orientated team to execute a turnaround growth strategy which is accretive for existing shareholders. This structure is intended to align the interests of new management with share-holders & stake holders including the Bank of the West. A new Board with a temporary Executive (Mr Levi) will seek to position the Company as a consolidator of oil & gas assets in America and Asia, leverage off the multiple available distressed targets which represent a significant opportunity for acquisition. Various targets have been identified however these also, remain subject to confidentiality agreements.

Daniel Levi: I’d like to personally take this opportunity to thank SaveSure Consortium members, including Jim Mellon, for their help & finance but most importantly their invaluable advice and continued support.

The SaveSure Consortium: Sefton Resources Inc. can be saved, real value can be brought back. We call upon all share-holders to get behind the proposals and back the turnaround.

END

The SaveSure Consortium

http://uk.advfn.com/news/ALNC/2015/article/65314901

http://uk.advfn.com/news/UKREG/2015/article/65314543

2 February, 2015
The Smallcap Oil & Gas round up

Quiet week in the Smallcap Oil & Gas Underverse. Don’t forget to Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

Cadogan (LON: CAD)
Announced an improvement in well performance at Borynya 3 following a light acid wash and further testing in the 2745-2685m range interval. Flaring and hydrocarbon samples were collected and oil, condensate and gas were evident. There was no evidence of formation water in the fluids produced. Persistent completion brine leakage from annulus to bottom packer is still preventing sustainable production at this stage. The Company plans to release the work-over rig in the next days after re-completion and well testing will continue in order to properly purge the formation without brine interference in production. As anticipated, an acid-frac will be planned for next year in order to obtain and support sustainable and commercial production at Borynya 3. Further updates on these activities will be provided in due course.

Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

Europa Oil & Gas (LON: EOG)
The AIM listed oil and gas exploration, development and production company focused on Europe, announced its final results for the 12 month period ended 31 July 2013.
The full Annual Report and Accounts will be available today on the Company’s website at www.europaoil.com

Gulf Keystone (LON: GKP)
Confirms that, further to a communication received from the Ministry of Natural Resources of the Kurdistan Regional Government, commercial production from its Shaikan field in the Kurdistan Region of Iraq has recommenced. As previously announced, the Company plans to ramp-up ((THE SP) sorry typo!)) production from the first Shaikan production facility to 20,000 barrels of oil per day, while ((((paying themselves tens of millions! sorry typo again!))) completing the construction and commissioning of the second Shaikan production facility, which will add a further 20,000 bopd of production capacity.

Ithaca Energy (LON: IAE)
Came out all trumpets blaring on how super dooper it is that they have; extended and improved long term senior bank debt financing facilities and oil sales agreements. Increased existing Reserve Based Lending facility from $430 million to $610 million, with enhanced terms in the form of a reduced margin cost and greater flexibility over future unallocated capital. This has enabled retirement of the $350 million bridge credit facility established to facilitate the Valiant Petroleum acquisition in April 2013. What a fine piece of business this is increasing your debt via an RBL (Reserve based lending). Spend it before you get it! Ithaca have also established a new five year $100 million corporate facility, providing additional funding flexibility to add new appraisal / development opportunities to the existing portfolio. How about just giving the $100 million back to share-holders as a special divi? Not a chance! The trough needs to be kept full!

Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

Leni Gas & Oil (LON: LGO)
Good news came this week as the Company reached the significant milestone of achieving net oil production of over 500 barrels per day from combined operations in Trinidad and Spain. The majority of this production growth has come from the Company’s assets in Trinidad where the on-going programme to work-over and reactivate wells is proving successful. LGO’s post-tax profit from operations now exceeds US$300,000 per month and the Company sees this financial position as sustainable and will be further strengthened as new wells continue to be put on production in Trinidad and well enhancement work is undertaken in Spain. Neil Ritson, the Company’s CEO, commented: “Reaching this operational milestone is very encouraging and is a further demonstration of the potential in the Goudron Field in Trinidad. It is also very significant that this production increase, when combined with the recently implemented reduced overriding royalty rates in Trinidad, have seen the Company’s overall cash flow strengthen significantly in the last few months. “ Well done Neil Ritson. Now surely on the way to 1,000bopd.

The week wouldn’t be complete without an RNS from Max Petroleum (LON: MXP) This week we get to learn of “production test results at the Sagiz West field and the spudding of wells at the Sagiz West and Uytas fields.” The SAGW-5 well in the Sagiz West Field is currently testing a Triassic reservoir from depths between 1,324 and 1,330 metres. The well has tested at initial rates on various choke sizes between 100 and 240 bopd and is currently flowing at a stabilized rate of 110 bopd on a 10/64″ choke. After testing for up to 90 days in this reservoir, the well will be recompleted in the next reservoir at depths between 1,283 and 1,296 metres. The Company has also commenced drilling the SAGW-14 appraisal well, the seventh well to be drilled in the field that will further evaluate the southern end of the Sagiz West structure. SAGW-14 will be drilled to a total vertical depth of approx. 1,400 metres targeting Triassic reservoirs. Dear Max expects to drill an additional seven appraisal wells after SAGW-14 as part of its ongoing appraisal programme for the field. At Uytas, the Company has commenced drilling the UTS-9 appraisal well, which will be drilled to a total vertical depth of approximately 550 metres targeting Jurassic reservoirs. After UTS-9, an additional four wells remain to be drilled as part of the initial appraisal programme in the field.

Nighthawk Energy (LON: HAWK)
Updated on production at its 100% controlled and operated Smoky Hill and Jolly Ranch projects in the Denver-Julesburg Basin, Colorado. Average gross oil production in the third quarter of 2013 was 1,528 bbls/day compared to an average of 631 bbls/day in the second quarter. The increase was driven by the successful drilling program at Arikaree Creek with a full quarter of production from the Big Sky 4-11 and Taos 1-10 wells and a first contribution from the Silverton 16-10 and Snowbird 9-15 wells which came on-stream in July 2013. As previously announced, production in September 2013 was affected by planned maintenance work and data collection at all five Arikaree Creek producing wells. As a result, average gross oil production in September 2013 was 1,408 bbls/day. All wells are now back on-line and the data gathered during the scheduled tests of pressure and fluid levels is being analysed. The production rate of Steamboat Hansen 8-10, the Arikaree Creek discovery well, increased during the third quarter. This well has now been in production for over ten months and has produced over 90,000 barrels of oil with no water production. The Company continues to benefit from strong oil prices, and generated net revenues of over US$10 million in the third quarter of 2013.

Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

Northcote Energy (LON: NCT)
Released a pre placing ramping RNS READ IT HERE then quickly announced a few days later that it Was “pleased” to dilute it’s own share-holders by announcing that it has raised £1.75 million through placing 159,090,910 new ordinary shares in the Company at a price of 1.1 pence per Placing Share. “Pleased” I think not!

Petroceltic (LON: PCI)
Confirms that it has received formal notification that Sonatrach, the Algerian State Oil Company, is exercising its right under the Isarene Production Sharing Contract to pre-empt the Company’s proposed sale of an 18.375% interest in the PSC. The commercial terms and proceeds of pre-emption are similar to those agreed between the Company and a potential third party purchaser and comprise a $20 million payment on completion, a $140 million development carry and two contingent payments of $10 million each based on the achievement of certain early production and technical completion milestones. Following the completion of the transaction, Sonatrach will hold a 43.375% participating interest, Petroceltic will hold 38.25% and Enel will hold the remaining 18.375%

Peter Landaus’ ailing Range Resources (LON: RRL) received a share price query from the Australian Securities Exchange this week and in response has confirmed that: The Company is not aware of any information concerning it, that has not been announced and which, if known, could be an explanation for recent trading in the securities of the Company. Range notes the recent decrease in its share price on the AIM market and is not aware of any other information concerning it, that has not been announced and which, if known, could be an explanation for recent trading in the securities of the Company. Yes that’s right Peter you don’t know why your company SP is tanking. As the head honcho don’t you think you should know? Could this be one of the reasons. The failure to close the Texas sale? “The purchaser of its Texas assets continues to indicate that it is proceeding to complete settlement of the acquisition, Range is still awaiting receipt of the final consideration for the sale of these assets with Range agreeing to extend the settlement deadline……….

Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

Salamander Energy (LON: SMDR)
Has spud the West Kerendan-1 exploration well (WK-1), which lies within the Bangkanai PSC, in Central Kalimantan, Indonesia. Salamander has a 70% operated interest in the WK-1 well. The WK-1 well has two main targets, the first of which is the Oligocene Berai Formation carbonates, which form the reservoir in the nearby Kerendan gas field. At West Kerendan, the Upper Berai forms the primary target and has mean recoverable resource potential of 330 Bcf. The WK-1 well’s secondary target comprises an underlying Eocene aged sandstone fairway in a large four way dip closed structure called Sungai Lahei. This higher risk Eocene target has mean recoverable prospective resource potential of 580 Bcf.

Tangiers Petroleum (LON: TPET)
Has terminated its Farm-out Agreement with CWH Resources Limited in relation to the offshore permits WA-442-P and NT/P81 located in the Joseph Bonaparte Gulf, northern Australia. Tangiers terminated the agreement because CWH did not meet the deadline to satisfy the conditions precedent.

Trapoil (LON: TRAP)
Updated in respect of its proposed farm-in to the Trent East Terrace Area and its existing interests in certain adjacent acreage. As announced previously, on 7 February 2013 Trapoil entered into a conditional sale and purchase agreement to potentially acquire a 33.33% working interest in Licence P.685 (Block 43/24a) containing the Trent East gas discovery, from Perenco UK. Holywell Resources is also a party to this Agreement under the terms of which it agreed to acquire Perenco’s residual 66.67% interest in TET. In the event that all of the conditions precedent were not satisfied or waived by 30 September 2013 any of the parties were thereafter entitled to provide 10 days notice of their intention to terminate their involvement. As at 30 September 2013 some legal documentation relating to certain conditions precedent, although acceptable to Trapoil, had not been agreed by Holywell. Given the circumstances Trapoil had no confidence that funds would be placed in an escrow account to cover the anticipated costs of an appraisal well. On 9 October 2013 Perenco issued a notice of its intention to terminate the Agreement in the event that the conditions precedent are not fulfilled by 19 October 2013. Trapoil’s subsidiary, Trap Oil Ltd, currently holds a 30% working interest in the Conrad prospect (Licence P.1923, Block 43/20c), an adjacent block to TET, which it acquired from Holywell last year for a nominal consideration. Trapoil’s partners in Conrad are Centrica Resources 40% working interest and operator and Holywell 30% working interest. A decision to either drill or drop this licence will need to be made by the partnership group by 30 January 2014.

Trapoil also has an outstanding licence application under the Department of Energy and Climate Change’s 27th Seaward Licensing Round for acreage proximate to the Trent East Terrace Area containing the Opal discovery. This potential full or partial licence award by DECC remains pending. The Company has to date been assessing the possible development of Conrad, and the abovementioned potential additional licence award from DECC, as part of its envisaged development plan for TET which comprised a single well tie-back to the Trent platform operated by Perenco. In light of the termination of the TET farm-in opportunity, Trapoil will now proceed to review and evaluate its position with regards to the adjacent acreage.

Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

Victoria Oil & Gas (LON: VOG)
Provided shareholders with an update on trading and operations with a (Love) letter from Kevin Foo, Chairman and Interim CEO. Click HERE to read it!

Sign the Sefton Resources e-petition DEMAND AN INVESTIGATION NOW!http://epetitions.direct.gov.uk/petitions/52766

SIGN THE PETITION!!!!

11 October, 2013
Sefton Resources Are they solvent?

I have sought an undertaking from Allenby Capital that Sefton Resources were not trading while insolvent. Mr Harriss has failed to give that undertaking in reply to my enquiry regarding Sefton’s solvency. The letter is below which has now been forwarded to the relevant authorities.

An Open Letter to Nick Harriss of Allenby Capital

F.A.O Aim Regulation Team Re’ ISS10755051. ISS10839399

F.A.O Market Abuse Team Re’ FCA Martin Wheatley ISS10764561

Re’ Sefton Resources

Dear Nick.

At 31st December Sefton had net cash of circa $1 million. It has since raised circa $1 million in fresh equity. We both know that its cash burn per quarter is circa $1 million.

But since March 2013 it has increased capital expenditure in both California and Kansas and it has incurred material short term liabilities in pursuing spurious legal claims against myself and Tom Winnifrith for libel.

And so I ask: have you done your duty and established beyond all doubt that Sefton is not trading whilst technically insolvent? – A criminal offence.

If its cash plus trade receivables is less than its short term liabilities ( short term bank debt and trade payables + its committed legal fees in the Levi & Winnifrith cases which are, I gather c$600,000) then it would be trading whilst insolvent.

Have you an up to date balance sheet which demonstrates that the client you are legally responsible for monitoring is not trading whist insolvent? I’m CCing in the AIM Regulation team & the FCA, since it will no doubt be keen to ensure that you are fulfilling your obligations as a Nomad and will be interested in your reply.

Dan Levi.

9 August, 2013
The Smallcap Oil & Gas round up.

BG GROUP (LON: BG)
The BG Group has completed the sale of the Group’s 65.12% holding in India’s largest private natural gas distributor Gujarat Gas Company Limited for INR 24.6 billion or approximately $422 million at current exchange rates.

Chariot Oil & Gas (LON: CHAR)
The Atlantic margins focused oil and gas exploration company, today announces that its wholly owned subsidiary, Chariot Oil & Gas Investments (Morocco) Limited, has agreed with the Office National des Hydrocarbures et des Mines a six month extension for the first phase of exploration on its Loukos, Casablanca and Safi licences, offshore Morocco, which will be valid until 11 January, 2014. The award of this extension remains subject to the final approval of the Moroccan Ministry of Mines and Energy and the Ministry of Finance.

Enegi Oil (LON: ENEG)
The independent Oil and Gas Company with a portfolio of assets located in the UK North Sea, Newfoundland Canada, Ireland, and Jordan said that it has signed a Letter of Intent with Black Spruce Exploration Corp. for the development of Enegi’s lease and licence portfolio in Western Newfoundland.

Exillon Energy (LON: EXI)
Released a drilling update yesterday. EWS I – 70. The well flowed oil naturally to the surface with a flow rate of 499 bbl/day on an 8 mm choke & is now connected to existing production facilities. EWS I – 64. Upon perforation the well flowed 220 bbl/day, of which 44 bbl/day was oil. Due to the fact that the well is located lower than any other well on the structure it has been converted to water injection for the purposes of maintaining reservoir pressure. EWS I – 65. Currently operated with a submersible pump flowing at 156 bbl/day, of which 85 bbl/day is oil. Exillion will seek to minimize water cut in the production from this well. Now connected to existing production facilities. EWS I – 66. The well is currently operated with a submersible pump flowing at 574 bbl/day, of which 551 bbl/day is oil. Now connected to existing production. Well 6 is the last planned well from Pad 6.Appraisal well EWS I – 90Appraisal well EWS I – 90 was designed to test the north-east extension of the EWS I field. The structure was previously tested with well EWS I – 61, but due to a long deviation of well EWS I – 61, the structure was not tested for flow rates. The well was spudded on the 13th April 2013 and drilled and cemented in 34 days. 18.4 metres of core was collected, which is represented by mudstones, gravel conglomerates, and sandstones. The core exhibits signs of hydrocarbon saturation. During a test the well has produced only a film of oil due to low permeability of the producing horizon. Exillion will assess the core data for methods of producing from this reservoir. Two additional wells have been previously planned for drilling in this part of the field in 2013. No further drilling will be completed in this area of the field prior to the completion of petro physical studies. The well was drilled 0.7 km to the south-east of Pad 9, and has been converted to a water source well. EWS I – 201. Currently operated with a submersible pump flowing oil at 146 bbl/day. The well was drilled 1.7 km north of Pad 7, and is now connected to our existing production facilities.

Genel Energy (LON: GENL)
Some mouth-watering bopd figures came this week from Genel. The company noted that DNO International ASA, as operator of the Tawke Field in the Kurdistan Region of Iraq, issued the following press release: “[The] deep Tawke-17 well tested 1,500 barrels a day of 26-28 degree API crude oil from an Upper Jurassic reservoir underlying the Tawke field in the Kurdistan Region of Iraq. Separately, the Tawke-20 well, the Company’s first horizontal well in the Tawke field, has flowed an average of 8,000 barrels a day from each of the first four of ten fractured corridors penetrated by the well. Testing continues on both wells. “We are very pleased that initial Tawke-17 results are in line with the Company’s pre-drill estimates,” said Bijan Mossavar-Rahmani, DNO International’s Executive Chairman. “This discovery in the Sargelu formation, over 200 meters below the main field Cretaceous reservoir, likely bumps recoverable reserves on the Tawke license to the one billion barrel mark,” he added. Drilling of a second Tawke horizontal well continues on schedule. “If this second well, Tawke-23, demonstrates the significant deliverability uptick we are now seeing in Tawke-20, we will go back to the drawing board and consider further enhancements to our current target of 200,000 barrels a day of production capacity by 2015,” Mr. Mossavar-Rahmani said. Last month the Company announced that it had met its previous goal of delivering 100,000 barrels a day from the Tawke field following 72 hours of well and facility tests. The Tawke-17 well, the deepest drilled by the Company in the Tawke field, encountered several Triassic zones that proved either tight or water bearing. Two additional identified reservoir intervals in the Upper Jurassic remain to be perforated and tested.” Tony Hayward, Chief Executive of Genel Energy, said: “Today’s news reinforces the extremely positive first half of 2013 that Genel has had with the drill bit, with the company having three new discoveries in the Kurdistan Region of Iraq in the space of three months. We look forward to working with DNO to determine the full extent of the new discovery.”

GeoPark (LON: GPK)
Good news from GPK. The company drilled and completed the Tua 4 well to a total depth of 3,432 metres. A test conducted with an electric submersible pump (“ESP”) in the Gacheta formation, at approximately 3,290 metres, resulted in a production rate of approximately 526 barrels of oil per day of 11 degrees API oil, with 3% water cut, through a choke of 51mm and well head pressure of 125 pounds per square inch (“psi”). A second test conducted with an ESP in the Guadalupe formation, at approximately 3,260 metres, resulted in a production rate of approximately 857 bopd of 16.1 degrees API oil, with a 1.3% water cut, through a choke of 19millimetres and well head pressure of 59 psi. Further production history will be required to determine stabilized flow rates and the extent of the reservoir. Surface facilities are already in place and the produced crude oil from the Guadalupe formation is now being marketed and sold. The Tua oil field was discovered in July 2012 with the Tua 1 well. Current gross production of the Tua oil field is approximately 4,800 bopd. GeoPark has announced the discovery of three oil fields (Max, Tua and Potrillo) since moving into Colombia in early 2012 and Colombia oil production net to GeoPark grew to 4,932 bopd in 1Q 2013 – representing a 66% increase vs. proforma 1Q 2012. During 2013, GeoPark plans to carry out a 15-20 well exploration & development drilling program in Colombia and is currently testing a new prospect on the Llanos 34 Block. GeoPark has interests in 27 exploration, development and production blocks in Colombia, Chile, Brazil and Argentina. During 2013, GeoPark plans to carry out a total 35-45 well drilling program with an expected work program investment of US$200-230 million.

Gold Oil (LON: GOO)
Released their final results for the year ended 31 December 2012 and confirms that the Annual Report and Financial Statements have been posted to shareholders.
A full version of the Annual Report and Accounts is available for download from the Company’s website at www.goldoilplc.com

Kea Petroleum (LON: KEA)
Released results of testing Puka wells 1 and 2, some views on the potential size of the Puka fields, possible future production levels and plans to drill Puka 3. Preliminary analysis of the recent 3D seismic over Puka as well as testing results to date indicate that both Puka discoveries are at the edge of a substantial channel. Puka 2 is only a 3.6 metre net sand and whilst initial flow tests achieved rates of over 700 barrels of oil per day, flows from such thin pay could not be expected to be sustained at particularly high levels. The sustained rates totalling over 300 BOPD detailed below are certainly commercial but the opportunity to achieve total daily production rates of over 2,000 BOPD, which remains the Group’s objective, rests on more holes being drilled into thicker sands. The Group intend to proceed as quickly as possible to the drilling of Puka 3. The Group has adequate cash resources to drill this hole as well as complete the on-going capital production works at the Puka site. Sales of oil to date from Puka have raised NZ$1.45M (£730,000).

Leni Gas & Oil (LON: LGO)
More good news. Group-wide oil production from its operations in Trinidad and Spain now exceed 400 bopd and on the 10th June 2013 total production was over 450 bopd, a new Group record. In Trinidad, where the Company produces from the Goudron and Icacos fields, LGO’s net oil production has increased to 315 bopd on the 10th June 2013.
Oil production has increased consistently since the acquisition of the Goudron field in October 2012 (LGO; 100% operator) and Goudron now contributes two-thirds of the Group total. Production growth is expected to continue through 2013 as additional wells are reactivated and placed on pump. Neil Ritson, LGO Chief Executive, commented: “We continue to be ahead of our planned progress towards the 400 bopd target set by the Company for Trinidad by end year. We are continuing at an aggressive pace in Trinidad and we remain confident of the development potential in the country.”

Petro Matad (LON: MATD)
is pleased to announce that it has raised $5 million before expenses through the issue of 90,612,540 ordinary shares of US$0.01 each to its largest shareholder Petrovis Matad Inc. The New Shares have been issued to Petrovis at an issue price of 3.56 pence per ordinary share. Following the issue of the New Shares, Petro Matad will have 277,288,541 ordinary shares in issue.

Matra Petroleum (LON: MTA)
Has signed an agreement to dispose of its 100% interest in the Arkhangelovskoe Licence which includes the Sokolovskoe Field, to a third party, consisting of an initial payment of US$25 million with a further payment of US$10 million payable within nine months, conditional on drilling results. Having commissioned a seismic survey on the Sokolovskoe Field, leading to the revised management estimate of 2P Recoverable Reserves of 13.5 mmbbls, the Board conducted an extensive review of the conceptual Field Development Plan and associated economic forecasts, as well as investigating other options for maximising the value of the Sokolovskoe Field for shareholders. The Board believes that the disposal of the licence for a consideration of up to $35 million represents compelling value when compared to the capital costs required to develop the asset and the technical risks associated with the field. The proposed monetisation of the Arkhangelovskoe Licence is consistent with the Company’s growth strategy and will provide the Company with increased flexibility to pursue new upstream investment opportunities, with the potential to create significant value for Shareholders.

President Energy (LON: PPC)
Annual General Meeting of shareholders at 11 am today. Paraguay. President is acquiring 100 km of 2D data in the Demattei Concession, and 780 km2 of 3D in the Pirity Concession. The 2D was acquired in April and the results are very encouraging and confirm the presence of a prospective structural trend. The 3D seismic acquisition began in May in the Jurumi prospect area of the Pirity Concession, and is now completed. The initial results are equally encouraging. Data quality is excellent and the presence of a prospective structural trend has been confirmed. Detailed prospect mapping will proceed over the next few months. 3D acquisition over the Los Naranjos prospect area of the Pirity Concession will commence this month, and is expected to be completed by early August. We look forward to announcing the final prospect evaluation, including the selection of initial drilling locations by the end of November. An updated CPR will also be published. Planning continues to be made with a view to commencing the drilling campaign at the end of the rainy season in Q2 2014. Argentina. Good progress has been made on President’s work over and well stimulation campaign. Two out of the three stimulations, on wells PE7 and PE8, have been successfully completed and are awaiting clean up prior to being brought on production. The third, on well DP1001, is due within the next few days. President will announce the stabilised production rates of all three wells shortly. Louisiana. Production remains at solid levels well above 200 boepd, and oil prices remain at over US$100 per barrel.

Range Resources (LON: RRL)
Said it was “pleased to provide the following update” on its Trinidad operations, with the following highlights: Too long for the Smallcap round up. You can read it HERE

Rialto Energy (LON: RIA)
It’s good riddance to Charles Nieto and Vance Querio they resigned from the Board of the Company with immediate effect. In addition, Matthew Worner has resigned his position as Company Secretary and Chief Legal Officer. You will not be missed. Nieto, who was an Executive Director of the Company, remains employed as Chief Operating Officer pending a review of the Company’s operating needs at the conclusion of the previously announced proposed transaction with Vitol. In addition, the Company is pleased to advise that Miss Sandra Rosignoli, an experienced oil and gas lawyer, will be joining Rialto as General Counsel in London in a part-time capacity. You mean going through the books!

San Leon Energy (LON: SLE)
Updated on the Czaslaw-1 well and the Siciny-2 well. Czaslaw-1; Based upon the encouraging data obtained during the acid wash performed in May on Czaslaw-1, stimulation modelling has been performed by Denver-based engineers. Their recommendation, which the Company will now implement, involves undertaking one or more additional acid fracture treatments on the well. A liner will first be run and cemented to facilitate targeting of the stimulation to specific depths. This is expected to take place in late summer, following necessary permissions and equipment sourcing. Siciny-2; Pressure fall-off data has been acquired from the first Diagnostic Fracture Injection Test on Siciny-2, on what was expected to be a relatively low-permeability section. This was performed first for operational reasons, as it is the deepest interval of potential interest. The results show a permeability which is below the range which would be considered for full fracturing. A second DFIT further up in the same reservoir section will now be performed in the coming weeks, with the aim of determining a possible suitable depth for hydraulic fracturing.

Sefton Resources (LON: SER)
More piss & wind came from Sefton yesterday. Apparently the company are kyboshing monthly production reports in favour of quarterly. That will save a few quid in RNS fees! Cash is critical. Expect yet another dilution. No more bottom tank sediments or non-saleable fluids or even pre-shrinkage provisional bopd announcements. All gone from RNS announcements just like the fantastical PV10 bullshit cash flows. (Tools of manipulation). Looks like some one or some organisation has read them the riot act. We now just get actual production figures as reported to the DOGGR. Which is what we should have got ALL along. Invest in this POS? You’d have to be utterly stupid!

Sound Oil (LON: SOU)
Released what can best be described as a very short update on a section of drilling. (Waste of an RNS fee!) The Nervesa appraisal well has successfully completed drilling of the 16″ hole section through the Plio-Pleistocene gravel formations to a depth of 322m. Operations are in progress to install the 13 3/8″ casing. That’s it folks!

Urals Energy (LON: UEN)
Has entered into a short-term loan agreement with Petraco under which Petraco will advance the sum up to US$7.0 million to the Company. Repayable immediately following the loading of the next tanker shipment, scheduled for Autumn 2013 or 30 November 2013 (whichever is earlier); interest rate of 5% over LIBOR until the date of the bill of lading of the tanker at which point it reduces to 2% over LIBOR; and it is included in Petraco’s existing security over CJSC Arcticneft, further details of which appear in the Company’s announcement dated 12 April 2010. The proceeds of the Loan will be used by the Company to both progress its 2013 drilling plan and working capital financing. In view of the fact that Ingeborg Srenger is a director of both Urals and Petraco and the control she exercises over Petraco, the Loan is considered to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. The Company’s directors (with the exception of Ingeborg Srenger), having consulted with the Company’s nominated adviser, Allenby Capital Limited, consider that the terms of the transaction are fair and reasonable insofar as the Company’s shareholders are concerned.

Xcite Energy (LON: XEL)
Another yawn. Xcite Energy Resources Limited (XEL 100% owned Subsidiary) has entered into a Memorandum of Understanding with AMEC Group Limited (“AMEC”) setting out commercial principles for future cooperation to support the development of the Bentley Field.

14 June, 2013