Share Name Share Symbol Market Type Share ISIN Share Description
Silvermere Eng LSE:SLME London Ordinary Share GB00B606VT57 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 1.875p 0 06:32:19
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Personal Goods 0.0 -5.0 -20.0 - 0.65

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Date Time Title Posts
03/6/201522:06Silvermere Energy PLC - Oil and Gas in USA (Moderated)5,276
21/8/201306:59Silvermere Energy Plc - USA OIL & GAS2,498
17/4/201320:38Silvermere Energy discussion without stupidity3

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christianf12: g78, It has been and no one in their right mind would deny that. I am however, still hopeful of this well flowing at a decent rate with others to come on board. It will only take 1 bit of good news to see 10p+ again imo as only 35m shares in issue and how many of those are in real free floa? I think many forget that the market cap here is £1.6m now. There will come a time when bad news is overly priced in to the share price. Last placing was at 7p. Can buy now at 5p. NAI
showmethemoney123: Down again this morning. These muppets are completely useless. They won't even buy stock at these levels but continue to draw inflated salaries and do nothing for the share price or long suffering holders.
gandalf1971: Pro- totally agree with you m, not bragging but 449k shares were voted this morning from me which weren't voted on Monday, there were other shareholders who have stepped up and voted. Have you got yours in, as long as the resolution gets passed then I think we will see a correction in the share price Move it along I say and like I said last night, if we get a pre ordered placing at 12p then this share price will definitely show value. I'm fairly chilled about it, never go all in and never expose yourself
sufijedi: I have absolutely no confidence left in AM, the guys a snake like most AIM CEO's!! Here is my email that i sent to him as i feared there was a sinister game in play: Hi Andy As a small investor in Silvermere-Energy myself and other investors that i know are really concerned with our current share price after the last rns you put out. Having compared our rns to Wothington-Energy's, what becomes apparent is there was a deliberate attempt to down play the positives with the wording of the rns. I don't get why the overly cautious approach was taken from which the markets are now punishing us for. Some fellow investors have suggested that this may have been done to make way for further dilution in shares. Could you please enlighten me if this is the case? If this is not the case then i strongly urge yourself or whoever helps in the drafting of the rns to consider taking up some PR lessons; I'm sorry if this comes across as being rude but i believe i need to be straightforward as i have a lot of my hard earned money invested in this company. I look forward to your reply. ....... He sent back: Thanks for getting in touch. I sense your frustration that the share price has not moved upwards to reflect the start of production and the consequent de-risking of the whole asset. I'm afraid though that the story is no more complicated than one of supply and demand. There have been several BB voices commending the last RNS along with others wanting more "puff". In most cases I believe those views to reflect the buy-in price of the person holding them. We take on board those views along with operational and other inputs in order to arrive at the content and tone that we consider appropriate. We have to look at least 12 to 24 months ahead. We very much hope that forward news will continue to be positive and that we can build the Company to reward investors for their faith. Best, Andy ...... "no more complicated than one of supply and demand." yeah right!!
hamlette: gandalf ... Now that we have the GECR research note (which has been commissioned by Silvermere Energy itself) hopefully SLME will get a mention in the weekend press and magazines such as Shares/Investors Chronicle and the share price will begin to move up. Andy Morrison has previously set out his vision for SLME, viz. "As a company, we are young and small, but we have big ambitions. We see ourselves focusing on appraisal and production in order to build a company that can sustain itself day-to-day through production revenues and can build value through the development of a significant reserve position. We expect to stay in the US for the time being, and to focus on conventional oil and gas on shore or in shallow offshore waters. We will look to take significant minority positions and over time we expect to build our resources to enable us to take on operatorships." Happy to be invested here....
gandalf1971: Mojo monkey Good post and I think we all share your opinion. I see it that the world is in silvermeres hands. A lot of o&g juniors have many multiples of shares in issue than silvermere, you have to take your hat off to frank and Andy, we are just about to hit the big time, the holy grail of any junior e&p, we will have production and a subsequent revenue with 29m shares in issue. If you look at 150 bopd and as another poster suggested 7-8m market cap, if so then this gives us an share price of 24.13p per share. More importantly there are 3 other wells to produce and the simple theory of OPEX vs production if = profit then we are on the road. If you look at the 4 point test which was completed then we are well within the boundary and it would appear that Chevron the previous owner has given us a doozy. IF we achieve 150 bopd and upward then I'm Not so sure we will retrace back to under the current sp, it just doesn't seem to happen as long as the plan is delivered. It certainly won't happen in a few hours as you suggest. Production is king, getting the money in the bank is what re rates companies, moves them into a different range. The only reason in the last year that the share price has been volatile is because we have no production, just a lot of talk of it. Once delivered it will change the dynamics of silvermere. The CEO has a huge header of 170m shares before silvermere has 200m shares in issue, as long as each dilution creates shareholder value equalling assets, like New Mexico which is a 160bopd onshore field with multiple other wells on the licence. Now that's shareholder value, buy something and get in profitable revenue. All just in my opinion, I've been invested a very long time and pin a lot of hope on silvermere, it's the one share that hasn't evolved with my portfolio in the last cal year
greenroom78: niuqrat - The reason some of us are moaning is that we have held for a while and want to see the share price up. Not everybody has cash to act at every opportunity (I bought my last lot a couple of weeks back) and would like to see a return on what they have already invested. I have concerns that management are happy to see the share price low for the time being as they are paying themselves monthly in shares. The lower the price the more they get. With that in mind I want the news out and the price up.
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moreforus: Issue of Equity Print Alert TIDMSLME RNS Number : 8118X Silvermere Energy PLC 21 February 2012 21 February 2012 Silvermere Energy plc ("Silvermere" or the "Company") Warrant Exercise, Option Grant and Directors' Dealings Silvermere, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the US, is pleased to confirm the issue of new ordinary shares as set out below. Warrant Exercise The Company announces that, following an exercise of warrants, it has issued, conditional on admission, 126,741 ordinary shares of 0.1p each in the capital of the Company ("Ordinary Shares"). Option Grant On 20 February 2012, the Company granted options over 400,000 Ordinary Shares to Andy Morrison, chief executive of Silvermere at a price of 25 pence per Ordinary Share. The options will be exercisable for a period of three years after vesting on the first anniversary of their grant. The exercise price for the options represents a premium of approximately 32.5 per cent to the Company's mid-market share price of 18.875p at close of business on 20 February 2011. No further performance criteria are applied to the award. The grant of this option to Mr Morrison meets HMRC qualifying requirements for Enterprise Management Incentives (Emis) and as far as practicable reflects the terms of the Company's Share Option Scheme (Part A) as summarised in Section 13 of the Admission Document dated 2 August 2011. The Company intends to notify HMRC of the grant within the prescribed time limit. EMIs are designed to help small, higher risk companies recruit and retain employees who have the skills to help them grow and succeed. Directors' Dealings In accordance with the terms of his engagement, 15,894 new shares, worth GBP3,000 have been allotted to Stewart Dalby, a non-executive director of the Company, as salary at a subscription price of 18.875p per share, this being the mid-market closing price on the specified date of 20 February 2012. Following the issue, Mr Dalby holds a total of 30,529 Ordinary Shares in the Company, representing approximately 0.15 per cent of the Company's issued share capital. Andy Morrison, chief executive officer of Silvermere, has also agreed to reinvest GBP20,000 of salary due to him on the same terms as Mr Dalby. Accordingly, a further 105,960 shares in the Company have been allotted to Mr Morrison. These shares will be held by Mr Morrison in his SIPP. Following this purchase Mr Morrison's total interest in the Company amounts to 317,520 Ordinary Shares, representing approximately 1.5 per cent of the Company's issued share capital. Frank Moxon, chairman of Silvermere, has also agreed to reinvest GBP4,950 of salary due to him on the same terms as Mr Dalby and Mr Morrison. Accordingly, a further 26,225 shares have been allotted to Mr Moxon. Following this purchase Mr Moxon's total interest in the Company amounts to 170,225 Ordinary Shares, representing approximately 0.8 per cent of the Company's issued share capital. The Director holding percentages given above reflect the Company's issued share capital as enlarged by the placing and warrant exercises detailed herein. All shares in the Company held by its directors are subject to a lock-in agreement under which they may not be sold or transferred before 31(st) August 2012 and are subject to orderly market requirements for a further twelve months thereafter. Total Shares in Issue Following the above share issues, the total number of Ordinary Shares in issue will be 20,772,046. Shareholders may use this number when calculating their percentage holding in the Company. Application is being made for the 274,820 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 27 February 2012. --ENDS-- For further information please contact: Silvermere Energy plc +44 (0)7980 878 Andy Morrison, Chief Executive 561 Merchant Securities Limited (Nominated Adviser and Broker) Lindsay Mair/Virginia Bull + 44(0)20 7628 2200 Rivington Street Corporate Finance Limited Jon Levinson +44 (0)20 7562 3357 Bishopgate Communications Nick Rome/Shabnam Bashir +44(0)20 7562 3350 About Silvermere Energy PLC The Company acquired its interest in the Mustang Asset on 30 August 2011. This comprises a 33.33 per cent. working interest and 20.83 per cent. net entitlement interest in the Mustang Licence Area, 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 as defined in State of Texas Oil and Gas Lease numbers 108873 and 108874. The Mustang Island 818-L field, located in Kleberg County waters of the Gulf of Mexico, is a field re-habilitation project targeting bypassed or only partially produced gas-condensate. Early in 2011 the Hercules Offshore 205 jack-up rig was contracted to re-enter the I-1 Well on the Mustang Licence Area which was considered to be the most likely of the historic well sites to provide 14 optimum re-entry conditions. The I-1Well re-entry and side-tracking operation was completed in March 2011 leaving it ready to complete in sand horizons I-1 to I-6. Production and flow testing was carried out during June 2011. The well re-entry programme was led by Dominion as the operator. Gas and oil produced from the I-1Well is proposed to be connected to pipeline infrastructure and tied in via a subsea assembly, constructed for the purpose and then transported to the Six Pigs gas facility. Silvermere's strategy is to acquire a portfolio of US oil and gas licence interests onshore and in shallow offshore waters, characterised by relatively low risk and low cost with the potential for near term production. Silvermere is quoted on the AIM Market of the London Stock Exchange plc (AIM: SLME) with its offices in London. This information is provided by RNS The company news service from the London Stock Exchange END
jambo172: Silvermere Energy – First oil production on track for before the year-end. Speculative Buy at 21p with a 60p target price Silvermere Energy is a US focused oil and gas development and production company. The board is acquiring a portfolio of US oil and gas licence interests onshore and in shallow offshore water, where the team is on the lookout for near term production to provide early cash flow. The first asset that has been acquired is at Mustang Island which meets all these requirements and also brings with it the opportunity to upgrade the resource and reserve portfolio, another key requirement of the board. Mustang Island is a joint-venture with operator Dominion Energy. Andy Morrison, CEO of Silvermere has just brought shareholders up to date with operations and commented, "....Since Admission, at the end of August 2011, Silvermere has met with Dominion, the operator of the Company's Mustang Island asset, a number of times. The relationship between the two companies is excellent. Not only is the fabrication of the production platform advancing well with tie in of and first production from the I-1 Well still on track for 2011 but we are starting to collaborate together on the planning for the subsequent three well development programme in that field. Accordingly, the Directors of Silvermere are confident about the prospects for further success on the Mustang Island block." Today, Silvermere looks like a real value play in the oil and gas sector. The Competent Person's Report (CPR) on these assets published by RPS Energy in August 2011 valued the company's attributable proven and probable reserves at £18.4 million (equivalent to approximately 100.2p per share) with a further £59 million (approximately 321.4p per share) of upside in the possible reserves. These are numbers that Andy Morrison highlighted in a recent announcement, which also concerned the raising of £150,000. This new money was raised from existing investors with £75,000 coming from warrants being exercised at 30p plus £75,000 in a placing at 16p as the vendors of the Mustang Island had failed to honour commitments to exercise 250,000 warrants at 30p. It is a positive sign that Andy Morrison has agreed to reinvest £9,600 of salary due to him by exercising of 32,000 warrants at 30p per share, taking his holding to 161,560 shares (0.88%). To recap, the company has been funding its share of the development at Mustang Island, where the I-1 well, a re-entry well, has been completed and could be tied into within the next couple of months - leading to production possibly starting as early as November 2011. With this will come early cash flow, with the I-1 well expected to bring in $60,000-$70,000 of revenues per month. Silvermere was created by the reverse takeover of the Mustang Island gas interests and in the deal, the company gained a 16.65% stake in the I-1 well but going forward has a 33.3% share on the further action and three new wells are expected. It is likely that these wells will be drilled over the next two years with the first one planned for 2Q 2012. So it can be seen how quickly the revenue stream could be built up from just asset number one. There is little doubt that Silvermere is not one of those drill or bust casino AIM stocks but more of a US style P&L–focused oil and gas producer, which seems more to suit the mood of the times. Even given the more conservative approach, there is plenty of upside potential at Mustang Island for two reasons. Firstly, a substantial amount of the Key Data EPIC SLME Share Price 21p Spread 20p – 22p NMS 1,100 12 Month Range 19.5p – 22.75p Market Cap £3.7 million Total no. of shares 17.6 million (18,354,191 following placing) Market AIM Website Sector Oil & Gas Contact Andy Morrison 07980 878561 reserves in the CPR found their way into the 3P (Possible) category (£57 million) and there seems good scope for these to move up the value chain to the 2P (Proven and Probable) and the true value to be independently determined on the back of further work. This conservative approach had to be adopted as in the 1980s when Mustang Island was previously in production, the operator Samedan Oil co-mingled the production from the various sands and so there was a real lack of historical data available to show what each of the sands produced. This is a pity considering that there seems to be layers of sandstones with good quality 2D and 3D seismic. Secondly, beneath the current structures there may be further reservoirs that as yet have not been drilled. Investors are witnessing the birth of a US energy business. The corporate strategy is to acquire and develop a portfolio of low risk, near production oil and gas assets onshore and shallow offshore in the US with a clear focus on Texas/Louisiana. The economic assessment provided by the CPR clearly demonstrates Mustang Island provides a sound initial base with its low entry cost coupled early production and additional upside potential from appraisal programme. This cornerstone will provide the cash flow on which Silvermere can finance and develop further assets and Mustang Island acts as a good blueprint for the coming acquisitions. That means near production opportunities with no exploration risk. The board believes that there are plenty of acquisition opportunities in the US amongst smaller oil and gas operations. This is all to do with the shortage of capital making life difficult for small development projects. There is nothing like backing a board which has done it before and have a track record of success. Andy Morrison is an oil man through and through who came from AIM-listed Xtract Energy plc, where as CEO he managed a portfolio of projects in oil and gas exploration and production. Non-Executive Chairman Frank Moxon is well-known in City corporate finance circles and is on the board of £400 million plus market capped AIM-listed Cove Energy. The board knows the value of good news flow which looks to be on the cards and will probably will kick off with the I-1 tie-in and then first production from this well followed up by an update when full flow rate has been achieved. Moving on, there will be an announcement on the development plan for the three further wells followed by drilling. Silvermere's share of the drilling costs and associated work going forward is $8 million, which will need to be raised. This does not need to be funded by equity as the company has a number of options to finance these development costs including: a farm-in deal and debt finance. The existing warrants if exercised would bring in £3.6 million ($5.8 million) alone. The CPR, makes for good reading. The study did assume that three wells would be drilled one after another whereas in all likelihood these will eventually be drilled over the space of the next two years. Our analysis takes these two variations into consideration in calculating a Net Present Value of $24.8 million or £15.7 million for Mustang Island. Our target price of 60p is calculated on a fully diluted basis. We recommend the shares as a Speculative Buy with a 60p target price.
Silvermere Eng share price data is direct from the London Stock Exchange
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