Sefton Resources is a USA focused Oil & Gas producer that is entering an exciting period in its expansion, with a pending full field steam flood at its flagship Tapia oilfield in California and first revenues from its gas pipelines in Kansas. Elsewhere in California the company are also intending to move its 100% owned Eureka oil field up the value chain with some potentially lucrative joint venture agreements and expansion of existing operations.
At Tapia an uplift in production after the implementation of Dr Ali’s steam flood design (engineers have suggested 800 to 1800 bopd ), along with improved recovery rates of up to 70 % , and the current heavy oil premium above Nymex, will make Tapia a very profitable operation capable of not only underpinning the company,s nearterm future, but also provide a platform to move the group to its stated aim of becoming a solid midcap producer.
With so much near-term cash flow potential, 2012 is shaping up as a landmark year for Sefton.
Company Assets Overview #
In California, Sefton has 100% working interests in two fields in the Ventura Basin. The first of these is Tapia. This is a heavy oil (17-19°API) field extending over 262 acres and including four lease areas – Hartje, Lackie, Snow and Yule. The second field is Eureka Canyon – containing medium oil (28°API) and extending over an area of 1,510 acres.
In Kansas, Sefton’s assets include three gas-gathering pipelines – LAGGS, Vanguard and Waverly. The LAGGS and Vanguard pipelines extend over 20 and 26 miles, respectively in Leavenworth county and both have an 8-10 mmcfd capacity. They give Sefton the ability to capture gas over a 200 mile area. It is envisaged that the two pipelines will eventually be linked. The Waverly pipeline is located in Anderson county. It covers 22 miles and also has the capacity to move 10 mmcfd.
The Group’s latest reported estimate for proven reserves in California, is 3.74 mmbbls. The report classifies 0.44 mmbbls (12%) as PDP, 1.22 mmbbls (33%) as PDNP and…
