Silvermere Eng Share Discussion Threads

[christianf12] 02/4/2013 11:12

Valuation
Silvermere is being groomed by the board to become a US style profit focused oil and gas producer. It does look as though Mustang Island could act as a good blueprint for a coming acquisition.
A Competent Person's Report (CPR) was published on the company's assets at Mustang Island by RPS Energy in August 2011. This has been followed up on, as the Board commissioned an updated independent report on Mustang Island's reserves and valuation as at 31st March 2012. This report, which is in draft form, indicates a value (NPV10) of US$14.3 million for the 2P reserves attributable to the company's interest and an additional US$56.4 million for the 3P possible reserves based on currently forecast price decks. Successful production from the I-1 well has the potential to significantly upgrade the company's reserves at Mustang Island and its valuation.

[christianf12] 02/4/2013 10:18

You can only buy 75k shares now.

[christianf12] 02/4/2013 09:03

ok thanks.

I thought it was coz there are no more sellers and the mm's have a short position. Thanks

[jpat4] 02/4/2013 09:03

GCM resources

Michael Tang secured the GL for GCM which will be transformational.DYOR

[grannyboy] 02/4/2013 09:02

Thats because the shares have been mulched and put on the compost heap...

[christianf12] 02/4/2013 08:30

Not much stock around down here.

[sufijedi] 30/3/2013 21:51

"deliver shareholder value" if only AM knew how to!!

[showmethemoney123] 29/3/2013 21:24

He's been on annual leave for the last 2 years. Lol.

[bumpkinroll] 29/3/2013 13:00

I called Andy Morrison:

- He's on annual leave from tomorrow & the production update will not be until week commencing the 8th April.
- I asked how production has gone for this month & did we have any down days - he said he could not divulge too much, but, there have been a few down days but also they are in production.
- He apologised for the radio silence but did state they are working hard in the background on strategy in order to build the company & deliver shareholder value & plans will be announced ASAP.

[rajaster] 28/3/2013 13:35

of course we can blame a bear market here when in reality the drops because of incompetent management running AIM orgs. seriously silly when you think of the sory of decisions being made e.g. december rns here stating yorkville and premption to issue more shares.. still no rns about the companys direction .. stated that were reviewing assets.. but not purchased anything.. no contingency was sought when it was clear the single asset delays are a big problem.

[rajaster] 28/3/2013 13:26

i sold most of my NEW.. but hardly did well as profits came here and into ECR :(.. both are hammered one more than the other.. so just holding on. learnt some painful lessons.. but this time is once in a lifetime what we are seeing.. this bear market on juniors will have to end some time.. and when it does we should atleast some reach stupid highs again.. the AIM boom bust cycles usually 2 years.. but we will have to wait and see.

[ryan83] 28/3/2013 12:13

RAJ - I got stopped out of NEW at 4.5p (ish) thankfully. However my Dad and a few mates still are so keep an eye out. I told them to get rid a few weeks ago until funding sorted but they said what the hell its oil or nothing lol. Fortunately I had also sold the vast amount of NEW I had in January and bought WRES. Healthy profit there and much much much more to come there June onwards. Got some holdings in OBT for medium term and punts in PFP/JSJS/AMP. Hows AIM treating you lately?

[callumross] 28/3/2013 12:08

Looks like the final throes now. Guess, if you can take the last MM offering 5p, then probably worth doing so.

[rajaster] 28/3/2013 12:08

Acta ouch.. AEY thats some drop.

Hey ryan/GB.. are you still in NEW?.. NEW could still find oil in belize.. but market certainly isnt buying it.

[ryan83] 28/3/2013 11:37

GB - indeed. Flip of a coin whos worst

[acta_topup] 28/3/2013 11:27

And Greer at AEY? Quite a few recent examples

[showmethemoney123] 28/3/2013 09:52

You can put lipstick on a pig but it's still a pig....

Worst management team on AIM need to get the push.

[greenroom78] 28/3/2013 08:55

Maybe a rebranding is in order?

We could stick with the resource theme and maybe swap 'Silver'mere for Pewtermere

or maybe use an alternative colour, something like (always)redmere.

[showmethemoney123] 27/3/2013 12:02

No support and no plan whatsoever. Pitiful management team....

[fund55] 26/3/2013 20:27

--Natural gas settles at highest level since September 2011

--Weather-driven demand fuels 14% March rally

--Inventory draws bring stockpiles close to five-year average

(Adds price chart)

By Dan Strumpf

NEW YORK--Natural gas futures climbed to their highest settlement level in 18 months Tuesday, amid expectations that elevated demand could wipe out the longstanding glut in natural-gas inventories.

Natural gas for April delivery, which expired Tuesday, settled 11.1 cents, or 2.9%, higher at $3.976 a million British thermal units on the New York Mercantile Exchange. That is the highest finish for a front-month contract since Sept. 14, 2011. The more actively traded May contract finished 10.3 cents, or 2.7%, higher at $3.991 per million Btus.

The bulk of the day's gain occurred late in the session, with gas rallying with the broader energy market. The rise in gas places the fuel back near $4 per million Btus, a key psychological threshold that also hasn't been reached since September 2011.

"I suspect we will probably reload and give $4 a shot tomorrow," said Bob Yawger, analyst at Mizuho. "The rate of withdrawal from storage will continue."

Gas prices have been rising in recent weeks as a blast of unseasonably cold weather has boosted demand for the fuel. Natural gas is widely used for heating, particularly in the Northeast and Midwest, which have been hit by the brunt of the early-spring cold.

Front-month natural gas has gained more than 14% so far in March.

The upswing in demand has led to several weeks of unusually large withdrawals from natural-gas stockpiles. That has caused inventory levels--which have been well above normal for more than a year--to approach seasonal norms again.

Natural-gas stockpiles stand at 1,876 billion cubic feet. That is 162 bcf more than the five-year average level for this time of year. Some analysts have speculated that the gap, or surplus, could close in the coming weeks if gas demand remains elevated.

The last time natural gas was in surplus against the five-year average was September 2011, when prices were also last above $4.

"We should be pretty darn close to the five-year average" in the next few weeks, said Dominick Chirichella, analyst at the Energy Management Institute, in New York.

Gas stockpiles have been below last year's levels for some time, after 2012's mild winter quashed heating demand and caused inventories to balloon. This year's winter, by contrast, has been colder than normal. Stockpiles are 21% below the year-ago level

[andyrobo69] 26/3/2013 20:08

They've had a very very poor run over last twelve months, and a bit of misfortune as well. However I've taken a punt and bought in this week at 5.75 as it looks like they'll finally get some confirmed flow rates very soon and finally start generating some income.Any sort of positive news could see this move.

[sufijedi] 26/3/2013 20:06

Keep up the bad work Andy!

[showmethemoney123] 26/3/2013 16:06

Now at an all time low of 5.25p bid - this shockingly bad management team have taken the stock price down to here from 60p bid and there is no support for them whatsoever....

"We have a clear direction and purpose of what to do next" - well so do we - they should all be fired ....