Advertisement

Sefton Resources unveils rise in oil output at Kansas project

Shares in Sefton Resources climbed Tuesday after the oil and gas company announced an increase in production at Leavenworth Country, Kansas.

Shares in Sefton Resources climbed Tuesday after the oil and gas company announced an increase in production at Leavenworth Country, Kansas.

The group said a competent persons report was carried out to assess the future cash from oil and gas proved reserves and unproved resources at the prospect.

The report estimated net present value cash flows of $25.99m, representing a ten-fold increase compared to $2.57m reported at the end of 2011.

Advertisement - Article continues below

It also showed oil production grew to 400 barrels a month in March compared with 300 barrels in February.

"Sefton is demonstrating the results of the time, effort and investment made in Kansas which has served to substantially increase the reserves and the net present value of its oil and gas assets in Leavenworth County," said Chairman Jim Ellerton.

"Monthly oil production continues from our ongoing workover and recompletion programme."

Following acceleration of the acreage leasing programme in Leavenworth County, the company has assembled 14 separate project areas all with oil and gas potential.

Later in the year, work will begin in Anderson County on the Waverly pipeline system to mirror the operation being developed in Leavenworth County, Ellerton concluded.

RD

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/commodities/gold/601587/bullish-gold-price-cup-and-handle-chart-pattern
Gold

This chart pattern could be extraordinarily bullish for gold

The mother of all patterns is developing in the gold charts, says Dominic Frisby. And if everything plays out well, gold could hit a price that invest…
1 Jul 2020
Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020