Thursday, October 02, 2014

Sefton Resources says scope for growth is considerable as it updates on oil sales from Kansas

Monday, February 11th, 2013

Sefton Resources (LON:SER) said it has established oil production in north-east Kansas.

It also announced its gas pipeline has been certified and is in the process of being tied to the interstate system.

The group said it is in discussions with suppliers who would pay to use the re-established transmission system.

In the same update the group revealed 550 barrels of oil have been sold since the “latter part of 2012” when efforts began to re-establish production on its Kansas leases. Monthly production is around 300 barrel mark.

The early work has focused on three key leases with wells capable of economic oil production.

Its efforts have included replacing and repairing surface facilities such as tanks, flow lines and salt water disposal facilities, as well as electrical services, down-hole equipment and surface pumps.

Chairman Jim Ellerton said: “Kansas E&P operations are now generating revenue from oil sales with plans for a steady increase of such.

“The scope for growth in Kansas is considerable, especially as gas sales are added over the coming months.

“We look forward to being able to make regular production updates from Kansas and demonstrate the validity of our growth strategy for this business.”

 

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