As you all know Sefton Resources are suing myself & Mr Tom for libel. My crime is that I have the audacity to expose 12 years of utter, total & complete 100% FAILURE for what I genuinely & truly believe it is, A FRAUD. Mr Tom’s is that he has exposed them as “Liars”
To me there’s really no difference, if you have been lying to UK Investors for 12 years while creaming in millions of dollars through various ruses & shell companies then you are committing Fraud. If you are committing Fraud for 12 years then you have been lying to UK Investors. Of course these fine distinctions are subject to the interpretation of the UK Judiciary whose minds are, on the whole, far more sharper on points of law than mine. For my part I truly believe that we have the best legal system in the world, common-sense usually prevails in the UK Courts, which is why myself & Mr Tom are chomping at the bit to get our respective cases into a court of law before a UK Jury. And before Sefton go tits up.
As my good friend and fellow defendant Mr Tom Winnifrith wrote today “This is so blatant. I cannot see how the authorities are failing to tackle Sefton Resources (LSE:SER). If the company’s uber expensive City lawyers Pinsent Masons wish to bully me again go ahead” My sentiments exactly, although hopefully this time Pinsent Masons have learnt how to right click a document and open it in PDF Format. You can read Toms’ article by clicking http://tomwinnifrith.com/articles/3183/sefton-gotcha-blatant-pre-placing-lie-exposed 
Once again Sefton has been caught in the full glare of the beacon of truth, with the sword of BMD justice hanging over their heads, misleading UK investors yet again. Less than 5 weeks ago and 24 hours ahead of a rescue share placing. And four days after a truly ridiculous Leavenworth Asset cash flow CPR! Written by one of the many “Doctors” in the Sefton House of shame.
On the 5th of March 2013 Sefton announced “Preliminary oil production for California for Feb 2013 as 3443 barrels” which we all now know was a big fat whopper. Actual production was 2918 barrels. So just where did the 525 barrels go? Or more to the point when did they know the true figures? Yesterday? Come on shake your heads, wake up! This is yet another “Manipulation” in a long line of “Manipulations” going back over a decade. It now gets added to our defence and reported to the FSA & the AIM Regulation Team.
On 6th March Sefton announced that it had pocketed £650,000 of cash raised from (at 0.6p per share at a 30% discount) clients of Dowgate, who must be feeling like they’ve been sold a pup & may well understand now, just exactly why we call Sefton a FRAUD.
There has been no update on February or March output from California BUT OUR SPIES IN THE Sefton camp indicate an RNS tomorrow. What will it say? Does it really matter what excuses they make? Tank testing? Shrinkage? Permitting? Waiting for Dr Ali’s report before they proceed? Jim fell off the lavatory? The weather? But you cannot hide the truth forever. Output numbers have now been sneaked out over the weekend. You can see them HERE-DOGGR 2,918 barrels which over 28 days works out at 104 bopd. The missing 525 barrels of oil equals 17.99% of the true Feb’ 2013, 2918 barrel production. What in the name of God is going on here? This is an outrageous calumny.
I note that in the RNS of 5th March Ellerton stated: “Sefton is progressing its operations in both California and Kansas to allow for substantially higher oil production in the coming years.” He keeps making claims of a rising output trend in California. But as we know it is falling. February output was lower than that in January and December. In fact there were only two months of 2012 (August and September) when it was lower. Ellerton’s statements are becoming increasingly bizarre.
So just as Tom Winnifrith has asked I now reiterate his questions.
Allenby Capital
You signed off on the RNS of 5th March. Were you misled by Sefton re the output data or were you complicit in the misleading? How long are you going to stand for this nonsense or will you show some honour and quit as Fox Davies did? I warn you now that we will pursue you through the courts once Sefton enter administration.
The AIM team/FSA
Do you regard it as acceptable to mislead so blatantly about output in an RNS 24 hours ahead of a share placing? If not when will you do something about Sefton? I call upon you for an immediate investigation and a referral to the Serious Fraud Office.
Pinsent Masons
Since you act as Company Secretary as well as Sefton’s lawyer did you have sight of the RNS of 5th March pre-publication? Did you know that the production figures for Feb 2013 were massively in-correct? Presumably Pinsent Masons saw the placing letter that accompanied this placing. Did it mention February output data? I warn you now that we will pursue you through the courts once Sefton enter administration.
Sefton/Ellerton
How much of the £650,000 raised has been spent on air flights to and from Hawaii? What is your explanation for the fact that your RNS of 5th March was so misleading? Are you going to give back the money? You are a disgrace and should RESIGN immediately.
Daniel Levi
Dan
If you hold, or have held, shares in Sefton, surely you able to report them to the fraud squad yourself.
At least it will get sorted then
A good point. It’s for the Regulator to suspend then refer them to the SFO as happened with Powerhouse. If they report them then their concerns are far more powerful than ours. If we report them we get a room with a DC for 20 minutes who files & shelves it until they contact the regulation/FSA teams. It’s dependent on what they say dictates the course of action.
Dan
Many thanks for your reply and good luck though I am sure you won’t need luck.
As an aside I am now down to holding USOP shares and hopefully getting the news soon we have long waited for.
Keith
(axus)
It’s never nice to see people lose money. But to lose their hard earned cash to a sham is even worse than losing to poor management.
Good Luck with USOP
Dan