Sefton Resources

Directorate Change

RNS Number : 3969Q
Sefton Resources Inc
03 August 2010
 



Sefton Resources, Inc.

("Sefton" or the "Company")

 

3 August 2010

 

Sefton Appoints New Independent Board Members

 

Sefton Resources, Inc. (AIM: SER), an independent exploitation and production company with assets in the East Ventura Basin of California and the Forest City Basin of eastern Kansas, today announces that Mr. Karl F. Arleth and Mr. Mark R. Smith have been appointed as Non-Executive Directors of the Company with effect from of 3 August 2010.  Both Mr. Arleth and Mr. Smith are expected to stand for re-election at Sefton's 2010 Annual Meeting the details of which will be announced at a later date. 

 

Mr. Arleth is currently Managing Partner of Blue River Resources LLC, a Denver-based private oil and gas start-up firm engaged in the acquisition and development of U.S. producing properties and exploration plays.  Prior to Blue River Resources, he was Director, President and CEO of Teton Energy Corporation from 2002 to 2009.  Prior to Teton, he served as Chief Operating Officer and a Director for Sefton Resources Inc.  Between 1999 and 2001 he was a Non-Executive Director of Big Horn Resources, a Calgary-based oil and gas company.  Ending in 1999, Mr. Arleth spent 22 years with Amoco and BP, holding various senior positions during his career including: Chair of the shareholder board of the Azerbaijan International Operating Company (AIOC) for BP-Amoco in Baku, Azerbaijan; President of Amoco Caspian Sea Petroleum Ltd. in Azerbaijan; Director of Strategic Planning for Amoco Corporations Worldwide Exploration and Production Sector in Chicago; and President of Amoco Poland Ltd. in Warsaw, Poland. 

 

Between 1977 and 1992, he held positions with Amoco as an exploration and development geologist, petrophysicist, analyst, project supervisor, manager and executive in Denver, Tulsa, Chicago and Houston.  Mr. Arleth earned a Bachelor of Science degree in Geology from the University of California at Riverside and a Master of Science degree in Geology from San Diego State University.  He has also completed the Executive Development Program at the Wharton School of the University of Pennsylvania.

 

Mr. Smith currently is sole practitioner of law at Mark R. Smith PC in Calgary, Alberta Canada and has been involved in the energy industry for over 20 years.  He was previously a partner with Osler, Hoskin & Harcourt LLP for 1997 through June 2009 and was previously a partner with Burnet, Duckworth & Palmer LLP, where he articled in 1986.  He was lead counsel in numerous corporate and asset acquisitions and divestitures, primarily in the energy industry.  He was the Managing Director and CEO of Scimitar Hydrocarbons Inc. (later merged with Rally Energy), an oil and gas company focused on development and exploration in the Middle East and Africa.  He later co-founded and was Executive Chairman of Infiniti Resources, which was a Canadian domestic exploration and production company. 

 

Mr. Smith has served and continues to serve on a number of boards and subcommittees of both public and private companies, including Grey Wolf Exploration, Destiny Resources, Welton Energy and Stone Mountain Resources.  He holds a bachelor of Commerce and Bachelor of Laws, both from the University of Alberta. 

 

"We are pleased to have attracted strong, independent Board representation for Sefton and its shareholders," said John J. Ellerton, Sefton's CEO and a director.  "Mr. Arleth's extensive oil and gas industry experience and Mr. Smith's in-depth knowledge of securities law, mergers and acquisitions and oil and gas transactional law are two disparate skill sets that will lend important perspective and guidance to Sefton's Board.  Their appointment to the Board greatly strengthens the Board.  We welcome both new Board members and look forward to working with them in a collaborative manner."

 

Enquiries

John James Ellerton, CEO - Tel: +1 303 759 2700

David Charles/John Gaensbauer, Sierra Partners LLC - Tel: +1 303 757 2510

Nick Harriss/Derek Crowhurst, Religare Capital Markets (Nomad) - Tel: +44 20 7444 0800

Daniel Briggs, Religare Capital Markets (Broker) - Tel: +44 20 7444 0500

 

Sefton Resources is an AIM-listed oil and gas production company.  Its main core area of activity is in the East Ventura Basin in California, where it owns 100% of two oil fields, Tapia Canyon (heavy gravity oil) and Eureka Canyon (medium gravity oil), both of which have over 20 years of expected production life.  In addition, Sefton has over 45,000 acres in the Forest City Basin of Eastern Kansas where Coal Bed Methane gases, as well as conventional oil and gas deposits, are targets.

 

Information Required Under Schedule 2 of the AIM Rules

 

Karl Frederick Arleth, Age 61

Mr. Arleth holds 1,063,119 Common Stock in the Company. This holding represents 0.8 per cent of the Company's issued Common Stock.

Current Directorships/Partnerships

Blue River Resources LLC

Past Directorships/Partnerships

Sefton Resources Inc     Teton Energy Corp.

Teton Energy Corp entered voluntary reorganization (Chapter 11 of the US Bankruptcy Code) seven months after Mr. Arleth's resignation as a director in May 2009.

 

Mark Richard Smith, Age 49

Mr. Smith holds 55,800 Common Stock in the Company.  This holding represents 0.04 per cent of the Company's issued Common Stock.

Current Directorships/Partnerships

Stone Mountain Resources Ltd.                          Soloro Energy Corporation                          Edalis Energy Inc.

Brazeau River Resource Investment Ltd.         Mark R. Smith Professional Corp.             Hottboxx Inc.

Stone Mountain Management GP Ltd.              TEG Oil & Gas Canada Inc.                            NFR Canada ULC

QMC Stone Mountain Canada ULC                      NPR Resources Canada Inc.        

Past Directorships/Partnerships

Grey Wolf Exploration Inc.                                    Welton Energy Corp.                                      Destiny Resources Ltd.

Intiniti Resources Ltd.                                             Quintana Canada Corp.                                 FRQ Acquisition Corp.

 

There is no other information that requires disclosure under Schedule 2 of the AIM Rules.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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