Sefton announced a brief Operational Update and the execution of an agreement for the drilling of four new wells at Tapia Canyon oil field in California.
Jim Ellerton, Executive Chairman, commented, "The drilling of these four wells is very much part of the plan to increase production and revenues from Tapia and this is in advance of us receiving the completed report from Dr. Farouq Ali which will give us a very strong indication of how we can further develop the field.
"It's also interesting to note that we are not alone in being confident about this area and its potential as a neighboring operator, Vintage Production, a subsidiary of Occidental, has recently moved a rig on location to drill a third well at their Wayside Canyon oil field which is immediately adjacent to Sefton's Tapia Canyon field."
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