RNS Number:6514K
Sefton Resources Inc
02 May 2003



                             SEFTON RESOURCES INC.

                           ("Sefton or "the Company")

                            SETTLEMENT OF LITIGATION

                      And Operations Change Within Sefton

Sefton Resources announced today that it has signed an agreement to settle
litigation with a former operator of the Company's Tapia Field in Los Angeles
County, California.

In exchange for $312,458 owed to Sefton, the Company is to receive:

   *A drilling rig, used as collateral for a prior loan to the past operator.
    Valuation of the rig ranges from $140,000 to $250,000.

   *A workover rig and related equipment. Valuation of this equipment ranges
    from $40,000 to $90,000.

   *3,300,000 shares of Sefton Common Stock that was part of the consideration
    paid when purchasing a portion of Tapia Field.

   *A 5% over ridding royalty on the Yule Lease within the Tapia Canyon
    Field. Third party engineering assign 26.9% of the recoverable reserves of
    Tapia to this lease, giving a present day value at 31 December 2002 to this
    override of $441,706, using constant costs and prices with a discount of
    10%.

The Company plans to dispose of the rig and equipment to reduce payables related
to its blowout of a well in November 2002, while the remaining portion of the
settlement will increase the underlying value of its assets.

As of May 1, 2003, Karl Arleth has accepted a full-time position with another
company and although remaining on the Board of Directors of the Company, the
operational duties within Sefton will become part of the alliance with Hall,
Wells and Dinardo - announced on 9 April 9 2003.

" The Company wishes Karl well in his new venture and expects the existing
relationship to continue to be fruitful," said Jim Ellerton.

In addition, the Company's report and accounts for the period ended 31 December
2002 are expected to be announced within the next couple of weeks.






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            The company news service from the London Stock Exchange

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