Sefton bags equity financing deal for US fields
Sefton Resources, the oil and gas company with interests in California and Kansas, is up sharply on news of a new equity financing deal.
Sefton Resources, the oil and gas company with interests in California and Kansas, is up sharply on news of a new equity financing deal.
The £15m deal has been agreed with Darwin Strategic, a subsidiary of Henderson Global Investors.
Sefton reckons its US fields are worth £173m but it needs investment to bring them to full production.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The agreement allows Sefton to sell shares to Darwin, whenever it wants, up to the value of £15m. In return Darwin will receive a discount on the share price.
As Sefton makes clear, its main objective at the moment is to assemble a basket of financing agreements that will enable it to exploit its proven resources.
At 10:23 the stock had climbed 4%.
BS
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
How taking a two-year career break could leave a £26k hole in your pension
Career breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storage
Selling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits