Sefton Resources Inc. indicated its interest in acquiring producing petroleum assets in Indonesia.
The Development Agreement
The board of directors of Sefton (the Board) is pleased to announce the Company has entered into a development agreement (the Development Agreement) with UTAS Petroleum Services Limited (UTAS), a company controlled by Rob Shepherd, an experienced and well respected oil and gas executive with over 8 years of experience as an executive of AIM quoted companies (see www.utaspetro.com). UTAS was formed by Shepherd in 2012 to advise companies engaged in or investing in the oil and gas exploration and productions sectors. Using Shepherd’s extensive industry experience and financial contacts, particularly in emerging markets, UTAS advises clients on business strategy particularly new country entries, mergers and acquisitions, contractual negotiations, listings and capital raisings, due diligence, farm outs and strategic partner searches.
Rob Shepherd is an engineer by background who started his career at Shell before taking a number of financial positions in oil and gas industry. He was Finance Director of AIM quoted Dominion Petroleum which was acquired by Ophir Energy in 2012, a non-executive director of FTSE-250 listed Imperial Energy which was acquired by ONGC in 2008, and recently the Chief Executive of the dual-quoted (AIM and ASX) Azonto Petroleum until earlier this year. Shepherd has an extensive network in both Europe and Asia, a key factor in successful transaction execution in this sector.