Silvermere Eng Share Discussion Threads

[rajaster] 18/4/2013 14:40

SMTM i'd think so too.. very messy situation. according to some theres an rns tomorrow.. wont be pretty if they raise cash now expect 1.5p.. how much is owed to mustand and black cat? how much is owed to dominion and how much is needed to pay for old man AMs 60k per annum 2 day per week contract.

[showmethemoney123] 18/4/2013 14:21

SLME with its undisclosed liabilities is in its death throes now from what I am hearing from well informed brokers. Caveat Emptor to anyone buying here ahead of update on its financial position....

[davethechef] 18/4/2013 10:47

The sells at 2.67p are likely buys. I just bought 40k at 2.67p a minute ago, ontop of another 40k earlier, in the buy column that time.

[showmethemoney123] 18/4/2013 08:27

Shame on AIM. How can you allow a management team to continue and a Company to trade when by their own admission they have lied about the completion of a Placing and concealed it for 4 months and have still failed to make full disclosure (watch this space). I thought Directors were sent to prison for doing less rather than continuing to pay their salaries?

[montyhedge] 18/4/2013 08:10

It won't be long.

[showmethemoney123] 18/4/2013 08:08

I am shocked that SLME has not been suspended pending clarification of the Company's financial position as it has hidden its financial liabilities and still has not made full disclosure. SLME is clearly insolvent and is now fraudulently trading in my view.

[ih_393528] 17/4/2013 23:25

Morrison and the SLME B of D have done nothing to expand or develop the asset base. To attempt to run a single US asset entity from an office in Mayfair is utterly idiotic. There has been no portfolio development at all and no attempt to expand the asset base. They have utterly misrepresented themselves and as a consequence they will pay the price.
To owe the operator $225K in the USA is not smart, where has the money disappeared to ? Salaries and B of D fees no doubt.
This is his second failure and he should resign now. I see this getting very bloody in the next couple of weeks as certain parties are looking to hammer this B of D.

[craffert] 17/4/2013 23:04

Dominion could get a debt judgement against Silvermere if they really owe them as much as that, and if that happens they might just be able to force asset sale / liquidation to get their debt paid

[montyhedge] 17/4/2013 21:38

No chance this must be suspended.

[knigel] 17/4/2013 19:05

This one-free-share-tip email goes out to hundreds so maybe one last spike tomorrow?

[showmethemoney123] 17/4/2013 18:45

Surely Morrison should be updating the market via RNS rather than briefing via some watery analyst attached to their broker. My understanding is that as of February they are very seriously in arrears and currently owe Dominion at least $225,000. That does not take account of work done since that time or the workover that was announced on Monday.

[goldielox] 17/4/2013 18:28

Buy Rec from Doc Holiday

[goldielox] 17/4/2013 18:27

Buy rec from Doc Holiday

[ih_393528] 16/4/2013 21:35

Mason drilled and completed the Orion well, which was the primary money earner. The well was not P & A'd, it was on line for over 24 months and made around 6mmcf/pd plus 100bbl NGL/PD. They were fortunate with gas pricing being high at the time. As for Gutteridge, he added nothing to the equation other than the London presence. Again, cannot recall Mason blaming any shorts for stock price decline. Amazing how views differ on the matter.

[comedy] 16/4/2013 21:03

Mason didn't take into to profitability. He played a dud well until he jumped ship and Steven gutteridge took over. Turned out mason had been blaming shorters for mrp price collapse but it was him all along. The well was plugged and abandoned after he left .

[ih_393528] 16/4/2013 19:13

As I recall Mason took MRP to profitability.
This is SLME's problem and there is more to this than meets the eye.

[corus3] 16/4/2013 19:09

What a shambles

[montyhedge] 16/4/2013 18:49

Guys surely going to run out of money?

[rajaster] 16/4/2013 16:23

what about northcote?.. i did some research several months ago.. i was long when it listed around 1.2p and closed at 1.6p not looked at it for a while now..

[pro_better] 16/4/2013 16:23

o/t

the north

'initial results are expected in the week commencing 15 April'

lrl will drill 6 more wells until october and then submit the reserves report in the last q...very busy the next 6 months with lots of newsflow...

[rajaster] 16/4/2013 16:22

i've always liked logp.. maybe i will buy some..lrl andother shale org.. not for me sadly.. i've got some shares in sac.. but no idea where that will go either.. still a long way off drilling and production.

[t1meout] 16/4/2013 16:21

the north LRL are fracking two wells now. If commercial the shares will more then double. The are also drilling another well due to start any day now. They are also drilling another 3 wells in the next few months also.

They have brought forward 2014 programme to 2013.

Read Zengas's posts very informative