Sefton Resources, Inc. is engaged in the business of oil and gas production through its wholly owned subsidiaries, TEG Oil & Gas USA, Inc. (TEG USA), TEG MidContinent Inc. (TEG MC). The Company's core area of activity is in the East Ventura Basin in California, in which it owns 100% of two oil fields, Tapia Canyon (heavy gravity oil) and Eureka Canyon (medium gravity oil). In addition, Sefton Resources, Inc. has over 40,000 acres in the Forest City Basin of Eastern Kansas where Coal Bed Methane gas, as well as conventional oil and gas deposits is targets. During the year ended December 31, 2007, TEG USA had oil sales totaling 46,250 barrels of oil, equating to an average productive rate of approximately 127 barrels of oil per day. In 2007, TEG MC acquired an additional 5,000 acres. As of December 31, 2007, TEG MC’s Anderson and Franklin County project comprises approximately 36,000 acres.
(Source: ARS)
