Silvermere Eng Share Discussion Threads

[pro_better] 06/3/2013 12:24

at 10p+ shareholders lose money here....at least the ones entered in the beginning...

as i said they should have been proactive and raise sufficient funds for the next drilling at Mustang and buy another asset...if they were ready and marketed it appropriately they could have gotten themselves a successful placing at 13-14p for around £2m imo at that time IMHO of course...



zzzzzzzzzzzzzzzzzzzzzzzzzz

[christianf12] 06/3/2013 12:16

imo they should sell the current asset as would imagine it'll be worth c. 10p+ on a fire sale basis if 20p on a NPV P2 reserve basis now.

If the market won't value the assets accordingly, then they need to protect shareholders value and realise it.

[pro_better] 06/3/2013 12:14

seda facility is to help the company with working capital...

going down this road to acquire an asset worth some millions wont do good for the share price imo...

[christianf12] 06/3/2013 11:56

LOL, you saw the note before you posted the above : ))

What did you think the SEDA was for? Christmas present?

[pro_better] 06/3/2013 11:54

i thought it! cant believe it!


''Finance is available for this from a prudently drawing down on the £5m SEDA agreed with Yorkville in December 2012.''

[pro_better] 06/3/2013 11:53

GE&CR

Silvermere Energy

Oil and gas production at Mustang Island improves further


Latest operations update revealed 32% and 4% improvements in gas and oil production respectively on a month-on-month basis. This works out at 1,912,068 scf of gas and 308 barrels of oil net to Silvermere. This production comes from the well flowing for 73% of the time in February.


The corporate strategy is to expand by acquiring appraisal and production opportunities in oil and natural gas projects either onshore or shallow offshore the US; that offer the promise of early cash flow. Finance is available for this from a prudently drawing down on the £5m SEDA agreed with Yorkville in December 2012.

Mustang Island consists of three other existing identified well locations within this licence area. Silvermere's agreement on the acquisition of the interest in Mustang Island gives the company a far larger stake in these successive additional wells.

Successful production from the I-1 well has the potential to significantly upgrade the company's reserves at Mustang Island and its valuation. Based on an independent valuation of the 2P reserves on a fully diluted basis equates to a target price of 20p.

[christianf12] 06/3/2013 11:52

New note out from GE&CR

[pro_better] 06/3/2013 11:50

lets all pray that he wont go after an asset acquisition by using the SEDA facility...that would really be a disaster for the share price imo...

[greenroom78] 05/3/2013 07:44

I dread to think what AM did in a previous life to get a run of luck like this.

Can't believe they are still not selling the stuff.

[ferdy1] 05/3/2013 07:41

Good morning.....

progress is painfully slow and with operations out of his control AM is fast becoming the unluckiest CEO on aim.....

Oil produced during January and February has not yet reached the shore installation and sales meters due to slow flow rates in the 20" line at the high pipeline operating pressure. The operator has advised that it intends to reduce pipeline operating pressure to increase flow velocities in the pipeline and thereby to deliver first oil sales.

[bumpkinroll] 05/3/2013 07:40

Good progression being made against last months rates & as stated, in for more of the same this month,

Also good to see more detail in the RNS from Andy.

As always in business, progression is rarely straightforward.

Looking forward to April's update.

[vivgav] 05/3/2013 07:21

RNS update out

[headsup1] 04/3/2013 15:18

Been in these a while but expect to show a profit by year end in at 13.20.

[cashandcard] 04/3/2013 15:00

triples,

That would explain the collapse. Drilling on Mustang Island not cheap, anywhere between $8-12million. Drilling alone more than SLME's marketcap. SLME's share of costs probably similar to current marketcap.

Makes you think, if the decline curve is heavy for the liquids, with gas so low at the moment, will the investment payback in a decent timeframe? Will it even payback is the question I guess?

Cash

[flyingbull] 02/3/2013 00:27

The March oil stock competition challenge is still on.....deadline for entries is Midnight on Monday 4 March 2013.

Best regards,
fb

[triples] 02/3/2013 00:26

This is what SLME has a 13.33%/20%/33.33% share in: "an area within the southern half of the north-west quarter and northern half of the south-west quarter of the Block 818-L field"

... you'll get rich on that :)

Dominion won't do any more on the lease until it knows that SLME can pay it's third, imho. Fundraising on the way?

dyor, etc

[christianf12] 26/2/2013 16:21

I bought today yes. I didn't say it was a 10 x bagger, I said the potential vaue is 122p accordsing to GE&CR.

What is your point?

I will be adding again this week. I'll let you know when I do : ))

1% of the company for £25k. Yes please.

[christianf12] 26/2/2013 16:18

Well said Greenroom.