This comes as a result of allegations made in two internet publications against Ellerton and certain documentation received. Non-executive members of the board, in conjunction with the company's lawyers and nominated adviser, will conduct a full and thorough investigation into the alleged matters. Both Ellerton and the non-executives believes this will be in the best interests of the company.
While the investigation is underway, Ellerton will continue to provide operational consultancy advice to the group's operating businesses in California and Kansas.
The company anticipates that it will be able to provide a further update to the market within one week as to the progress of the investigation.
Sefton Resources Inc. is an oil and gas exploitation, transmission and production company with significant scope to develop its three major areas of interest in onshore U.S. The company is headquartered in London with administrative offices in Denver.