31st Mar 2015 08:45
LONDON (Alliance News) - Sefton Resources Inc Tuesday said it has reached a provisional deal for the sale of its assets in Kansas and talks are continuing, as it also appointed a new chief financial officer.
Sefton said it has struck a provisional deal to sell its TEG MidContinent Inc and TEG Transmission LLC businesses, although a number of elements still need to be agreed before a deal can be finalised.
The company also said it has appointed Raylene Whitford as its chief financial officer. She most recently worked for an independent oil drilling contractor based in Alberta, Canada, Sefton said. It did not name her previous employer.
"The board is working hard to conclude the disposal of the Kansas Assets, as the next step in turning the company around and moving forward. The appointment of Raylene is another important element in the company's progress. She brings both strong financial acumen and a solid understanding of the oil industry," said Dan Levi, Sefton's interim executive chairman.
Sefton shares were up 8.3% to 0.1245 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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