AIM listed penny dreadful oil producer Sefton Resources (LSE:SER) has released November output numbers which it seems to think are good but as ever the reality is rather different. The bottom line is that this company should be issuing a profits (or lack of them) warning. And of course that it will be out of cash ( and with debt still to clear) by very early next year. My target price for the shares remains 0.01p – the stock closed at a share price of 1.18p today.
The company states that output (before adjustments) was 119 bopd in November. At one level I have to commend Sefton for increased disclosure. Yes I am being complimentary.
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