Personal and undiluted views

3259 days ago

On an acid trip with Pinsent Masons

I have not actually taken any LSD or even  a magic mushroom for years but as I contemplate the insane world of Pinsent Masons and the Sefton libel case I feel like I am on the most amazing trip. For Pinsents yesterday stated that it is ploughing ahead with the libel case. I happen to know that this is bollocks – the remaining Sefton directors met Pinsents and other advisors last Friday and are trying to find a way out. Oh yes, I have my sources Pinsents, try not to get too paranoid.  But anyhow let’s go on a magical mystery tour with the bully boy lawyers…

Suddenly a giant caterpillar appeared and beckoned me from my Clerkenwell rabbit hole towards the High Court. I called as a witness of fact Mr Russell Booker, a partner at Pinsent Masons, and asked him to read out his memo to the Sefton board in which he said that Jim Ellerton (Sefton’s only witness) was “discredited as a witness” and thus the case was unwinnable. “Thank you Mr Booker” said the white hare “would the plaintiff like to cross examine?”

The Barrister for Sefton consulted his team of lawyers from Pinsent Masons about how they would cross examine a partner from Pinsent Masons who was appearing as a witness of fact for the defence. Shroooooooooooooooooooooooooom.  No conflicts of interest here said the Pinsents team as they smoked a large hookah offered to them by Dr Ali in lieu of his final draft preliminary final report on steamflooding.

The Judge offered everyone more tea and a piece of cake


3290 days ago

Friday Caption Contest on a Sunday - Middle Aged model edition

I reprint the pghoto below not out of vanity but in response to a request from a reader. It is of me posiing in our new must wear T-shirt, the Gary Dillabaugh special. You can of course buy your own Gary Dillabaugh T-short HERE
In answer to the reader's direct question: Yes we did clean the table after I stood on it.  So post your captions in the comments section below. The deadline for entries is - as usual - 9 AM on Friday.

For what it is worth my entry is:

"With his drawings from Sefton last year Jim Ellerton could buy almost 17,000 of these T-shirts and have them shipped first class to Hawaii"


3428 days ago

Am I really gruesome?

I see that myself and Brokerman Dan have now been labelled “The gruesome twosome” by Bulletin Board Morons on Sefton Resources threads. I wonder am I really gruesome? I am certainly not a twosome.

I am not a twosome in that Sefton has launched separate libel proceedings against myself and Dan. He is my friend but he has made certain claims which he is defending and I have made others which I am defending. Lucky Sefton shareholders get to pick up the tab for two totally different cases.

Am I gruesome? Well possibly in many respects I am. The word is derived from a Middle English word meaning “to make one shudder” and is defined as “Causing horror and repugnance; frightful and shocking.”

Physically I am not everyone’s cup of tea but on balance I reckon that is a bit harsh. And so I guess this is a reference to what I am writing on this company. Is what I say shocking? To those who have stick their head in the sand for a decade losing 99.97% of their investment while management has trousered millions I suppose some of my revelations about the history of Sefton’s assets, misleading RNS statements on production, executive pay and the location of Jim Ellerton’s luxury Hawaii mansion must be shocking. It must cause horror for Sefton believers to discover the truth and for its management to be exposed. Being a Sefton shareholder must be frightful per se.

Repugnance? I think that is a tad strong. But I suppose The Sefton Board won’t be sending me any chocolate eggs this Easter so maybe they feel repugnance. But if I was a Sefton shareholder (and I am not and never have been) my repugnance would not be with a journalist who has been writing about this company for eight months exposing its skeletons but for the management that has spent ten years creating those skeletons.


3431 days ago

Today’s Questions for Sefton Resources – the world of Leavenworth (less) county

As you are aware AIM listed joke oil company Sefton Resources (LSE:SER) is suing myself and my pal Dan Levi (Brokerman Dan) for libel. We cannot wait for our days in court as this is getting more amusing by the day.

A day or so I asked Sefton the simple question – how many flights to and from Hawaii (where Jim Ellerton lives in a luxury mansion) have been paid for by Sefton? The answer could be nil and if so I would have hoped for a speedy reply. I have had no such reply. Perhaps shareholders might have more luck putting that question to the company directly- I suggest calling its PR man Alex Walters on his mobile 07771 713608 - good luck.

But I now have a few more questions and this time I move from Hawaii where Jim spends his millions to Kansas and Leavenworth County where in 2009/10 Sefton ponied up a total of $215,000 to buy some gas pipelines.


3433 days ago

Hawaii 5-0: Today’s Questions for Sefton Resources

As you may remember Sefton Resources (LSE:SER) is suing myself and Brokerman Daniel for libel. I have already responded to its writ and lodged my papers in the High Court last week. Dan tells me that he will be lodging within 24 hours. Both of us await this matter with mounting excitement as the more this goes on the more folks come to us with interesting snippets.

Today a former investor in Powerhouse Resources (go check it out) pointed me to Hawaii. For it appears that it is in this luxury pacific paradise that Sefton chairman Jim Ellerton and his delightful wife Carol make their home - it is not a modest pad. Public records show that it was bought for $710,000 in 2004. Why drag poor Carol into it?