News and Press Releases
Drilling update
November 29, 2008
Sefton Resources Inc. ("Sefton" or the "Company")
announces that its wholly
owned subsidiary, TEG Oil & Gas USA, has successfully completed its drilling
programme at the Hartje #16 & #17 wells. Both wells were drilled in the
east-central portion of TEG's Tapia Oil field. They were completed in the Yule
oil sand, encountered at vertical depths of approximately 1,100 feet below
surface. The wells were directionally drilled from existing surface well pads.
This minimizes surface impact and consolidates surface facilities for efficient
oil production operations into the future.
The drill rig is currently demobilizing from the Hartje #17
well location. The
installation of a surface pumping unit and final electrical and flowline hookup
will commence as soon as the drill rig equipment is cleared from the pad. TEG
plans to complete this work and commence production from Hartje #17 by the
middle of next week.
The Hartje #16 well has been producing for four days. Over
that time, the well
has averaged approximately 70 BOPD from the 120 feet of Yule oil sand completion
interval. This rate is expected to settle out to a standard 30-day Initial
Production (IP) rate of greater than 40 BOPD. TEG is very pleased and encouraged
by the results thus far and a further announcement on Hartje#17 will be made
when it has production figures available.
The Company's Steam Testing Programme continues. TEG has
scheduled a singles workover rig to service the Yule #8 gas supply well for
the first week in
December. The well tested at 1,150 Mcf of gas per day during an 8-hour flow
test
in January of 2004. Since that time, the well has set idle. Over this four-year
period, fluid had collected in the Yule #8 well, sourced from a lower interval
that was opened prior to testing the gas zone. TEG has successfully isolated
the
non-gas-productive perforations that were open in the well and interfering
with
consistent gas flow. The additional work planned will complete this repair
and
the gas will then be routed to the steam generator. Further news will be made
available when the current testing has been completed.
For further information, contact:
John James (Jim) Ellerton, CEO Tel: 00 1 303 759 2700
Jeremy Delmar-Morgan, Chairman Tel: 077 8900 4874
David Millham, Investor Relations Tel: 020 7796 9999
Nicola Marrin, Seymour Pierce Limited Tel: 020 7107 8000
Note: The information in this release has been compiled and
reviewed by Harry Barnum, a director of Sefton, who is a qualified person for
the purposes of the
AIM Guidance Note for Mining, Oil and Gas Companies issued on March 16, 2006.
Mr
Barnum has Bachelors and Masters Degrees in Geology and over 20 years of
experience in the oil and gas industry. He is a registered professional
geologist in the State of California.