Silvermere Energy Plc - SLME
USA Oil and Gas Producer

Shares In Issue - 20.7 million


Production About to Start in Gulf of Mexico


Silvermere began life on the July 14 2011 when Chalkwell Investments was renamed, and had its sights trained on the oil and gas sector after the acquisition of its current interest in the Mustang Island 818-L field in the Gulf of Mexico, Kleberg County, Texas. Silvermere has a 33.3 per cent WI and 20.83 per cent NRI in the Mustang assets, except for the I-1 well where it has a 33.3 per cent WI and 16.65 per cent NRI. The I-1 is a re-entry well that was completed and will be tied into production by the end of 2011. Testing of the well flowed at up to 2 mmscfpd, but Silvermere expects 3-4 mmscfpd and 84-160 bopd once the well is stabilised, cleaned up and has an initial 45-60 day production period under its belt. Should production fall short of expectations, additional zones can be perforated to increase output to more acceptable levels.

An independent evaluation of 3D seismic and well bore data by RPS Energy estimated total net (to Silvermere) reserves of 4.73 Bcfe in the 1P category, 11.53 Bcfe in the 2P category and 30.38 Bcfe in the 3P category. The high amount of Possible (3P) Reserves is due to the fact that RPS were unable to attribute their production to individual sands, and thus Silvermere is confident that once production commences, these reserves will be capable of being upgraded into a higher category. Indeed, the intention is to get RPS back post production to re-analyse I-1, rather than waiting for the drilling of the 3 new wells to improve the reserve profile.

Mustang Island Figures net to Silvermere:

Proven reserves (1P)...........4.73 Bscf - value - $4.49m / �2.84m* or 15.5p/share
Probable reserves (2P).........11.53 Bscf - value - �24.87m / �15.73m* or 85.7p/share
Proven and Probable (1P+2P)...16.26 Bscf - value - $29.36m / �18.58m* or 101.2p/share
Possible reserves (3P).........30.38 Bscf - value - $94.36m / �59.67m* or 325p/share
Total Potential Reserves................�78.25m or �426p* per share

*Based on Exchange Rate of 1 GBP = 1.58007 USD





The I-5 sands are the initial production horizon estimated at hosting 19.5 feet of net pay, while the G-3 sands are for the medium-term where there is also the potential to upgrade and enlarge current reserves. Three new wells (in addition to I-1) are expected to be drilled over the next 2 years, with the first pencilled in for the 2nd quarter of 2012. The 3 wells will test the structural highs of 3 fault blocks identified from historical 2D seismic run by Samedan Oil Corp in the 1980s. Silvermere�s share of these drilling and associated costs is US$8 million, the funds for which will need to be found, but given the company has US$5.8 million in existing warrants outstanding, as well as a range of other financing methods at its disposal (farm-in, debt, equity), CEO Andy Morrison does not foresee any issues.

Confidence in such claims is no doubt founded on its recent fund raising history, where the company raised �1.52 million through the issue of equity at 25p in August and �750,000 in convertible loan notes issued in June. The former was used for tie-back costs (�600,000), working capital (�400,000) and RPS�s CPR, due diligence and Silvermere�s re-admission to AIM having been suspended since January (�500,000). Mustang Island was acquired from convertible loan note issue.

Silvermere�s strategy is to acquire US onshore and shallow offshore oil and gas assets which are value for money, near production and capable of having their resources easily upgraded. To this end the company expects Mustang Island to develop into its cornerstone asset, throwing off sufficient cash flows to enable it to acquire and develop other assets without diluting shareholder capital unduly. Due to the ongoing financial crisis in the US, there is a significant shortage of capital for small development projects in that country, meaning there are tremendous opportunities to acquire quality assets at low prices. These circumstances have Silvermere rubbing its hands, and the company is already looking to acquire material, but minority interests in assets meeting its criteria, as it looks beyond Mustang Island. Working alongside the operator appeals to Silvermere at the moment, not only due to the fact that its skill set is financial, administrative and managerial, but it also allows the company to remain lean and flexible.
-------------------------------------------------------

GECR REPORT FROM DECEMBER 2011

Silvermere Energy* – Speculative Buy at 18.5p with a 60p target price

http://sharecrazy.com/beta/Tips/6337/silvermere-energy-speculative-buy-at-185p

Silvermere Energy is a US focused oil and gas development and production company which is on schedule for its first oil production by the end of December 2011. On 6th December 2011, the Company was able to report that preparations for production from the I-1 well on its Mustang Island asset by the operator, Dominion Production Company LLC, are proceeding to plan with the platform construction now in its final stages with load-out operations about to begin in Galveston. The completion of the load-out operations (expected by 13th December) is to be followed by work to lay the remaining 1,250 feet of connecting pipeline.

At the time, Andy Morrison, Chief Executive, commented that, “We are excited about the progress of the project and the approach of production, and we are working closely with the Operator to minimize any delays. Assuming reasonable co-operation from the weather, our objective of production before the end of the year is achievable.”

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. 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.

The firm is an obvious value play in the oil and gas sector. The Competent Person’s Report (CPR) on the Mustang assets published by RPS Energy in August 2011 valued the proven and probable reserves attributable to the Company at £18.4 million with a further £59 million of upside in the possible reserves. The CPR study assumed 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 therefore recommend the shares as a Speculative Buy with a 60p target price.

bob,

Good to see a silvermere energy thread on here,i have been a holder for a little
while now and quietly excited about this company. Its worth noting that the
directors and management have recently bought shares at 20.5p and 30p and
also the largest shareholder t1ps growth fund converted warrants at 25p per
share last week.The well was flow tested earlier in the year on a restricted
choke aperture and gave exceptional results,the directors indicated at the OB
conference that the 2P reserves figures can easily be achieved and exceeded
and are aiming for the maximum 30+ BSCF. Only 20m shares in issue here !



Production expected to start around the 26th / 27th december :-)

hi jackson,and thanks for the comments....the I-I well was completed earlier in the
year and flow tested at a healthy rate which the management expect to increase
"significantly" and if needed perforate further zones to increase output yet further.
This well is only the first of 4 planned wells at mustang island and is now ready to
go online for production / sales.

cheers bob,

Ceo andy morrison said at the oil barrel conference that they are expecting production
to start on the 27th december ( allow two days either way for weather offshore ).
So we are around a week away according to that :-)

jackson55, yes they stated around the 27th with two days either way. I am
expecting there will be alot of buying here this week and some new broker
coverage.There is at least one broker with a 61p near term target price already.

afternoon bob,

It think it was GECR that had the 61p near term target price but will check my
files and may post it up later.

jackson,yes it was GECR with the 61p near term target price. Dont worry about
posting it up mate as im going to be adding it and others to the thread shortly.

jackson,yes it was GECR with the 61p near term target price. Dont worry about
posting it up mate as im going to be adding it and others to the thread shortly.

bob heston, i must say this looks like a little GEM that went under my radar !
i will be buying in here tomorrow for sure after researching all day and even
missing my sunday roast !

anders,at the moment silvermere is a closely watched and held stock in the city
by a select few that will make huge returns IMVHO,but will soon be hitting the
newswires as they start producing in a matter of days now.With only 20m shares
in issue and a probable 161bcf and 9M Boe from just the first well of four it does
not need a maths degree to see how many multiples of the current market cap
SLME could increase.Check the snippet from proactive investor below :-)



"It is not often that a new oil and gas company joins AIM with a very clear road-map to early, cash generative production.

Silvermere Energy (LON:SLME) is such an outfit. Headed by former Xtract Energy chief executive Andy Morrison, the group owns a 33.3 per cent interest in the Mustang Island gas and gas-condensate field in the shallow waters of the Gulf coast of Texas.

Originally developed by the Samedan Oil Corporation in 1979, it produced almost 140 billion cubic feet of gas until it was abandoned in 1995, a victim of the rock bottom gas prices.

The competent persons report estimates Mustang Island has proven and probable gas reserves of 70bcf, rising to 161bcf of gas and 9 million barrels of oil if you add in possible reserves of gas and condensate.

As Silvermere and its partner, Dominion Production, progress through the development phase, so the confidence in those reserves should increase. This in turn will enhance the value of Silvermeres holding in Mustang Island".

http://www.proactiveinvestors.co.uk/companies/news/33345/Silvermere%20Energy:%20A%20tale%20of%20hidden%20value,%20early%20cashflow%20and%20a%20plan%20to%20be%20a%20%C2%A3100mln%20oil%20and%20gas%20fir

Some very good reserves figures there bob,with only 20m shares in issue this is
going to go mental when first production flows announce shortly.

jackson55, yes it is going to do very well in my opinion :-)

morning bob, i like this bit from the proactive article in ref to CPR you posted.


"It is not often that a new oil and gas company joins AIM with a very clear road-map to early, cash generative production.

Silvermere Energy (LON:SLME) is such an outfit. Headed by former Xtract Energy chief executive Andy Morrison, the group owns a 33.3 per cent interest in the Mustang Island gas and gas-condensate field in the shallow waters of the Gulf coast of Texas.

Originally developed by the Samedan Oil Corporation in 1979, it produced almost 140 billion cubic feet of gas until it was abandoned in 1995, a victim of the rock bottom gas prices.

The competent persons report estimates Mustang Island has proven and probable gas reserves of 70bcf, rising to 161bcf of gas and 9 million barrels of oil if you add in possible reserves of gas and condensate.

As Silvermere and its partner, Dominion Production, progress through the development phase, so the confidence in those reserves should increase. This in turn will enhance the value of Silvermeres holding in Mustang Island".

http://www.proactiveinvestors.co.uk/companies/news/33345/Silvermere%20Energy:%20A%20tale%20of%20hidden%20value,%20early%20cashflow%20and%20a%20plan%20to%20be%20a%20%C2%A3100mln%20oil%20and%20gas%20fir

jackson55, morning to you...yes those figures look rather impressive and easily
achieved IMO.

bob,my 50k buy from early this morning has just been published ( delayed )

morning guys, i took a nice little wedge here this morning,am liking this company
very much and think it could be a real growth stock and near term too.

jackson, i have that report we spoke of yesterday


12th December 2011



Analyst: Dr Michael Green
Emailichael.green@gecr.co.uk
Tel: 0207 562 3350





Silvermere Energy* First oil production expected by the end of December 2011. Speculative Buy at 18.5p with a 60p target price

Contact


Andy Morrison 07980 878561




Silvermere Energy is a US focused oil and gas development and production company which is on schedule for its first oil production by the end of December 2011. On 6th December 2011, the Company was able to report that preparations for production from the I-1 well on its Mustang Island asset by the operator, Dominion Production Company LLC, are proceeding to plan with the platform construction now in its final stages with load-out operations about to begin in Galveston. The completion of the load-out operations (expected by 13th December) is to be followed by work to lay the remaining 1,250 feet of connecting pipeline.

At the time, Andy Morrison, Chief Executive, commented that, We are excited about the progress of the project and the approach of production, and we are working closely with the Operator to minimize any delays. Assuming reasonable co-operation from the weather, our objective of production before the end of the year is achievable.

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. Silvermere is not one of those drill or bust casino AIM stocks but more of a US style P&Lfocused oil and gas producer, which seems more to suit the mood of the times.

The firm is an obvious value play in the oil and gas sector. The Competent Persons Report (CPR) on the Mustang assets published by RPS Energy in August 2011 valued the proven and probable reserves attributable to the Company at 18.4 million with a further 59 million of upside in the possible reserves. The CPR study assumed 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 therefore recommend the shares as a Speculative Buy with a 60p target price.

thanks for that bob,very good reading over my cuppa lol

bob it looks like this could be moving up nicely this week

anders,the recent broker reports and OB presentation hinted at early reserves
upgrades and a move into 2P figure and beyond.If so a serious re-rating will
happen rather quickly in my opinion.

bob, i think there are some games being played here as i had a buy of 30k at lunchtime
ad its not been published.Could finish well today i think.

It happens sometimes and some trades put through plusmarkets,nice finish today

Just had a few trades that look delayed come through jackson

Thanks bob,looks like it closed at 21p ( 18% up ) think it could do another 10%
tomorrow mate.I will be hanging on to these for some time as i think this could
just be a corker with 20m shares in issue and a great asset about to produce.

jackson,one of the best things about slme is that the proven resources so far
underpins the current shareprice almost so the real possible reserves ugrades
is in the price for free.They could well be carrying out another CPR soon after
production commences and there could be some nice revisions made.

proven reserves (1P)...........04.73 Bscf worth $04.49m/£02.84m or 15.5p/share
probable reserves (2P).........11.53 Bscf worth £24.87m/£15.73m or 85.7p/share
proven and probable (1P+2P)....16.26 Bscf worth $29.36m/£18.58m or 101.2p/share
possible reserves (3P).........30.38 Bscf worth $94.36m/£59.67m or 325p/share

bob, yes thats one major plus point in my book and also agree about the reserves.
I am very happy to be in here early :-)

bob, whats your view on the current cpr report mate ? do you think they will get
another one done quickly after going in to production shortly ?

anders, the company have said they may get RPS back in after initial production
runs so cant give a date on that,when they last flow tested the wells the results
were rather good even on restricted chokes.I think even this first well could return
some rather good figures.

Shame about the delay?

Cash call on the way.

Ooch...

Not a good RNS today and shocked by a 3 month delay,however am still a fan of
this company and will be adding further stock at lower prices.

Incidentally, anyone who has bothered to read the RNSs from Silvermere will have noticed that a director recently took shares in lieu of salary, hence my cash call comment. No revenue until Q1 2012 at the earliest.

PTHOLDEN, can i ask what you think silvermere is worth ? would you buy them for
say 1.4p for example ???

The point is, would I buy them now? Answer, no.


By the time they get to 1.4p anything could have happened, all of it bad if the SP goes that low, so no, I wouldn't buy then either.

Thanks for that, i think you just gave away your motives! in my experience someone
that posts on shares they dont own have an agenda that is dubious and should be given a wide berth, Some other on here say your a shorter that is part of a ring but i will reserve judgement on that. By the way can you tell of any shares you do own ?
so i can give my verdict on them !!!

My oh my Bob aren't you a clever chap. Erm, not.

Sorry your pump and dump has gone slightly awry, better luck next time. No doubt the rest of your mob will now appear to join in with your dubious assessment!

Incidentally, my motive in posting was to provide some information that might be useful to other readers, nothing more, nothing less.

Do I care what you think? Not one tiny little iota, and that's a very small amount.

Keep taking the happy pills :-)

ptholden, i would never dream of making comments on a company i was not invested
in ,not least because its unethical and totally pointless,and for your information i am
still 37.4% up on silvermere despite todays falls.

I am putting you on ignore !

There's me thinking the whole point of a forum was to exchange views, share information and even enter into the odd debate every now and again. Now it transpires you have to be a holder to enter into the spirit of things. Oh well, I'll buy a single share, will that fit your very strange view of this media?

Crack on with the ignore business, like many before you, you won't be able to resist peaking, but in your case you'll use one of your other aliases :-)

ptholden, not at all, i just think its strange for someone to post negative comments
on a forum on a share they dont own and then verbally abuse other posters.
With all due respect can you see why i see you as dubious ??

pt holden,

I must admit your behaviour here looks a little strange mate

bob,

Not good news today but could be worse! still going to be a cracker this one
come march/april :-)

Mr Bob, thought I was on the ignore list?
Verbally abuse other posters? Moi? Who? You?

ptholden, we should call a xmas truce just like the first world war lol

RNS Number : 5407U

Silvermere Energy PLC

23 December 2011

Silvermere Energy PLC

("Silvermere" or "the Company")

Variation of terms of Warrant Undertaking

Further to the operational update announcement on 20 December 2011, Silvermere, the independent oil and gas company, focusing principally on exploration, appraisal and production opportunities in the US, announces that it has agreed a variation of the terms of the warrant undertaking entered into with the Company at the time of admission by T1ps Investment Management Limited ("T1ps"). T1ps is the discretionary fund manager of SF T1ps Smaller Companies Growth Fund and Elite T1ps Income & Growth Fund. SF T1ps Smaller Companies Growth Fund and Elite T1ps Income & Growth Fund own 11.9 per cent and 7.23 per cent, respectively, of the issued share capital of Silvermere.

Under the terms of the warrant undertaking, the Company was due to give the second notice by 22 December 2011 under which T1ps would exercise 333,333 placing warrants at a price of 30 pence to provide GBP100,000 of additional working capital for the Company during the installation phase for the I-1 Well on its Mustang Island asset located in Kleberg County, Texas waters in the Gulf of Mexico.

As a result of the delay in production plans, the Company does not expect to require the funds immediately. T1ps has requested and the Company has agreed that the latest date for the second notice to be given under the warrant undertaking will be extended from 22 December 2011 to 22 March 2012. The Company expects to exercise the second notice in the first half of March 2012 in line with the new installation and production timetable.

Due to the size of the shareholding of SF T1ps Smaller Companies Growth Fund, the variation of the terms of the warrant undertaking constitutes a related party transaction as defined by the AIM Rules. The directors of the Company, having consulted with Merchant Securities Limited, the Company's nominated adviser, consider that the variation of the terms of the warrant undertaking is fair and reasonable insofar as Shareholders are concerned.

-ENDS-

We are in play at last ! after having recent conversation with the Ceo he appears
very confident of the I-1 well exceeding expectations. And more to come.



RNS Number : 2883B
Silvermere Energy PLC
13 April 2012




13 April 2012



Silvermere Energy plc

("Silvermere" or the "Company")



Operations Update



Silvermere, the independent oil and gas company focusing principally on appraisal and production opportunities in the US, is pleased to provide the following update on preparations for production from the I-1 well in its Mustang Island 818-L Field. This is based on information provided by the Operator, Dominion Production Company LLC.



Load out of the platform, tripod and pilings commenced on Monday 9th April, 2012. The load out phase involves the tripod, platform and associated equipment being loaded and "tied down" onto the barges which are currently on location at Laredo's yard in Galveston. Once loaded, the barges will be towed by tugs to the designated well location.



The installation is a 3 phase programme. First, the tripod base structure is installed. This operation is conducted by pile driving large metal supports through the legs of the tripod into the seabed to ensure the stability of the structure. The pilings will be driven to 180' below the mud line or to the point of refusal.



Phase 2 involves the main deck structure being raised by crane barge and lowered onto the tripod and welded in place.



Phase 3 is the pipeline hook up.



Operations are under the control of Laredo Construction, Inc. under a turnkey installation contract. As such, Laredo will monitor the weather and determine when the conditions are conducive to safe operations. Although we are now into April, the weather remains a factor, particularly for Phase I of the programme and operations may be affected.



The facility has been designed to allow for the production from 3 future wells and we view the installation of this platform as a major milestone in the development of the reserves in the Mustang Island 818 Leases.



Further updates will be provided as the installation programme continues.





--ENDS--



For further information please contact:



Silvermere Energy plc

Andy Morrison, Chief Executive

+44 (0)7980 878 561

Bob it seems we are at last underway in mustang island,i can see this getting a very nice bounce up next week and infact over the next month.

Will be adding a few more here for certain :->

Nice to see you back on here jackson, they commenced on the 9th of april
so we should have our next RNS on phase one by the end of week ( give
or take a day or two ).

Here we go again ..... pump & dump

You still at it aldwickk lol , you should read the RNS they commenced operations
on the 9th of april at mustang island.

Bid price 17p , let's wait until after the next RNS

I would not wait too long aldwickk its creeping up again and the buys not
started yet,they have a good shot at moving the reserves at I-1 into P2
and that could be £1 per share upwards.Have a good feel on this.

Tri Star Resources are a better bet , and they have a RNS coming out soon.

Sunrise = green
Silvermere = blue

Just ticking up now on level 2 aldwickk

aldwickk you sure about tstr ? thats been drifting along time now on low volume

Jackson55 , good start for tstr this morning , just ticked up again 0.91
+0.03 (+3.41%)

aldwickk i remember them when they were canisp, what potential value do you
give to the antimony with their shares in issue ? lower and higher case ?

19th April 2012


Analyst: Dr Michael Green
Email:michael.green@gecr.co.uk
Tel: 0207 562 3370


Silvermere Energy* Work recommences to bring Mustang Island 818-L Field on stream. Speculative Buy at 18.75p with a 33p target price






AIM
Website

www.silvermere-energy.com
Sector

Oil & Gas
Contact

Andy Morrison - 07980 878561


Silvermere Energy is an independent oil and gas company that is focusing on appraisal and production opportunities in the US. 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 acquired was 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 Production Company LLC. It had been hoped that the I-1 well in Silvermere’s Mustang Island 818-L Field would have been in production by the end of December 2011, but Dominion decided to suspend the installation until after the end of March 2012 due to bad weather and the significant financial costs likely to be incurred. Latest news is that preparations have now recommenced for the development work necessary to get the I-1 well into production.
Dominion has reported that load out of the platform, tripod and pilings began earlier on in April. Once the tripod, platform and associated equipment are loaded on to barges at Laredo’s yard in Galveston, the barges will then be towed to the well location by tugs. Installation is a three phase programme. Firstly, the tripod base structure is installed which involves driving supports through the legs of the tripod up to 180 feet into the seabed. Next the main deck structure is lowered on to the base by crane and then welded into place. Lastly, the pipeline is hooked by laying the remaining 1,250 feet of connecting pipeline. Weather still remains a factor especially for stage one of the installation. The facility has been designed to allow for the production of three future wells. The installation of the platform is a key stage in the development of the reserves in the Mustang Island 818 Leases.

Silvermere can be seen as a 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 proven and probable reserves attributable to the company at £18.4 million, with a further £59 million of upside in the possible reserves. The story so far is that 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 now be tied over the coming months leading to the start of production and revenue generation. 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 could be drilled over the next two years which would build up the revenue stream still further.

The board has sensibly altered the terms of some warrants to encourage holders to provide additional funding over recent months which has allowed Silvermere to accelerate its business development programme once gas and condensate production start at its Mustang Island L-818 asset. At the time Andy Morrison, Chief Executive, pointed out that: “We are pleased with the support shown by existing investors which provides a win/win outcome that strengthens the Company’s balance sheet while enabling those who invested at higher prices in the past to engage in the future growth plans of the company. The additional working capital will enable us to advance our business development pipeline and we look forward to reporting on further progress in coming months.”

Valuation

Silvermere has a declared corporate strategy to acquire and develop a portfolio of low risk, near production oil and gas assets onshore and shallow offshore, and to become a US style profit and lossfocused oil and gas producer. The fall in US gas prices will not have been escaped investors’ attention but it must be pointed out that the co-production of condensate will protect the economics under all foreseen price scenarios. Certainly the board is looking to the future with additional assets to soften the long term impact of the currently low gas prices even though gas prices are likely to recover over time. Reading between the lines it does seem as though the management is quietly running a slide rule over potential further investments to bulk up the company and make better use of its quoted status. Certainly, Mustang Island could acts as a good blueprint for the coming acquisitions. The CPR represented a very through piece of work although it did assume that the three wells would be drilled one after another whereas in all likelihood these will eventually be drilled over a number of years. Our analysis takes this into consideration calculating a Net Present Value of $17.6 million or £11.1 million for Silvermere’s stake in Mustang Island. Using a total number of shares of 33.06 million on a fully diluted basis gives a target price of 33p. We recommend the shares as a Speculative Buy with a 33p target price.

Operations Update
RNS
RNS Number : 6294C
Silvermere Energy PLC
03 May 2012



3 May 2012



Silvermere Energy plc

("Silvermere" or the "Company")



Operations Update



Silvermere, the independent oil and gas company focusing principally on appraisal and production opportunities in the US, provides the following update on preparations for production from the I-1 well in its Mustang Island 818-L Field. This is based on information provided by the Operator, Dominion Production Company LLC ("Dominion").



Following some weather-related delays to lifting operations, load out of the tripod and pilings onto the barge on location at Laredo's yard in Galveston was completed on 23 April 2012.



On 28 April 2012 while the lift-boat was en route to Galveston to take on supplies before heading on to Corpus Christi to commence the Mustang Island 818 pile-driving, it struck an unmarked and unreported obstruction which created a three foot hole in its hull. The vessel took on large amounts of water and was completely without engine power as a result. The vessel was towed to Cameron, Louisiana for inspection and the incident, due to its nature, is now the subject of a coastguard investigation. No-one incurred any injuries as a result of the incident.



Based on the damage incurred it is believed by Laredo that the lift-boat will be out of commission for at least two months.



Laredo, who are contracted by Dominion, are currently attempting to source an alternative lift-boat and an update on progress will be provided as soon as possible.



Andy Morrison, Chief Executive of Silvermere Energy PLC, said, "This delay to the preparation for production is unfortunate and frustrating, but it does not present additional liabilities to the Company. The lift-boat was not at the time of the incident on contract to Dominion."

Bob Heston - 16 Apr 2012 08:25 - 49 of 59

You still at it aldwickk lol , you should read the RNS they commenced operations
on the 9th of april at mustang island.
aldwickk - 16 Apr 2012 11:43 - 50 of 59

Bid price 17p , let's wait until after the next RNS


Bid now 14p after latest RNS , as i said before pump & dump names on this thread pumping it by posting to one another " yes Bob your right Jackson ,this will rocket up when the next RNS comes out, just bought another shed load "

lol

Oil and gas explorer Silvermere Energy* (SLME) has acted promptly to replace the lift-boat it lost last week following a collision with an 'unidentified object'. The replacement boat is expected to come off its existing contract within a month and will then complete the piling and installation of the platform at Mustang Island for the re-entry of the I-1 well. We hope the captain takes a different route to the prospect this time. The shares climbed 0.5p to 14.5p.

I don't know where you got that from but it's a load of old codswallop.

As to your pump and dump comments, repeatedly, there aren't enough posts on this thread to pump up the tyres on my bike.

Operations Update
RNS
RNS Number : 9326C
Silvermere Energy PLC
09 May 2012

9 May 2012



Silvermere Energy plc

("Silvermere" or the "Company")



Operations Update



Silvermere, the independent oil and gas company focusing principally on appraisal and production opportunities in the US, provides the following update on preparations for production from the I-1 well in its Mustang Island 818-L Field. This is based on information provided by the Operator, Dominion Production Company LLC ("Dominion").



Further to the announcement made on 3 May 2012, Laredo's yard in Galveston which is contracted by Dominion, has advised that an alternative lift-boat from within its own fleet has now been secured. The replacement lift-boat is expected to come off its existing contract in about 30 days and then to complete the piling and installation of the platform at Mustang Island for the re-entry of the I-1 well.







--ENDS--

The above is linked to post 59, which I put on here as an rns.

rhubarbe

Do you mean my anti pump & dump comments ?


aldwickk - 16 Apr 2012 07:48 - 48 of 66

Here we go again ..... pump & dump
Bob Heston - 16 Apr 2012 08:25 - 49 of 66

You still at it aldwickk lol , you should read the RNS they commenced operations
on the 9th of april at mustang island.

This share is motoring nicely.........Why???????

RNS

9 October 2012



Silvermere Energy plc

("Silvermere")



Share Price Movement



Silvermere, the independent oil and gas company focused principally on appraisal and production opportunities in the US, notes the upwards movement in its share price this morning. Silvermere also notes the following announcement released on 8 October 2012 by Worthington Energy, Inc on the OTC QB market regarding its interest in the I-1 Well (in the Gulf of Mexico, in which Silvermere also owns a working interest.



'Worthington Energy, Inc. (WGAS) ("Worthington" or the "Company"), an energy company engaged in the acquisition, exploration, development and drilling of oil and natural gas properties, today reports the results of the October 3, 2012 "4 Point Test" on the Company's I-1 Well. The 4 point test, which is required by the Railroad Commission of Texas (RRC), the state regulatory agency for the oil and gas industry, measures the deliverability of a well as defined by the well's capacity to produce, and is used by the RRC to allocate production quotas.

"We brought the I-1 Well on line in order to complete the 4 point test. The well was opened on a 7 choke and was allowed to stabilize for three (3) hours," stated Worthington Energy, Inc. President & CEO, Mr. Tony Mason. "We flowed well on both a 6 choke and a 7 choke, and the extrapolated oil rate flow ranged between approximately 200 to 400 BOEPD (barrels of oil equivalent per day)." Choke valves are used to control high pressure flow, especially in flow from oil and gas wells; the larger the opening, the greater the flow.

"Overall, this is an excellent result," continued Mr. Mason. "In order to enable steady oil and gas production to take place, the 6 choke will be our initial production choke once we get the pipeline charged, The oil produced was 38.3 API WTI. Based on these results the I-1 will probably end up being classified as an Oil Well and not a Gas/Condensate Well."

"The pipeline pressure was up to 80 psi but we still need to be at least 300 to 400 psi in order to begin 24 hour production. We are currently pressuring up the line and should be fully charged in the next few days," concluded Mr. Mason.'(-ENDS-)





Silvermere views the early production profile from the I-1 well as encouraging but highlights that the result of the four-point test has not yet been reported in full by the operator.



Silvermere will make a further announcement once the complete results of the four-point test have been made available and assessed.

Mining and Resource Investor Evening- London – 28th February 2013

Following the resounding success of our previous evening events, Mining and Resources Quarterly and Shares Magazine are proud to offer another chance for you to meet, hear from and ask questions of key senior management figures from carefully selected companies in the mining, oil and gas sector.

This event offers an unique opportunity not only to hear about the latest plans from some of the most exciting companies in the sector, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and your fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who make the market.

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Date: Thursday 28th February 2013
Venue: Novotel London Bridge, 10 Pepys Street, London EC3N 2NR
Registration: 6.00pm
Presentations: 6.30pm followed by a drinks/canapés reception

Companies Presenting:

Northcote Energy Ltd

Northcote Energy is a US focused oil & gas company with a balanced portfolio of new exploration and exploitation opportunities blended with a stable of existing producing wells primed for high impact development. The primary focus is on Mississippi Lime formation in Oklahoma, where new technologies and techniques including horizontal drilling have re-opened the oil play and which has seen US majors such as Chesapeake Energy, Devon Energy Corp. and SandRidge Energy build a strong presence.

Ortac Resources Plc

Ortac Resources Plc (OTC) is focused on financing and developing projects in the natural resource sector in Europe. Using industry knowledge, and project development and technology expertise, we identify new business opportunities and develop sustainable solutions to mobilise the economic and human potential of resource assets. In partnership with local communities, we co-create projects that deliver robust investment returns while respecting the criteria of socially responsible investment. We create value by implementing innovative and sustainable solutions for the development of natural resources


Silvermere Energy Plc

Silvermere Energy (SLME) is an oil and gas exploration and development company focused on opportunities in North America.
The development of the Mustang Island 818-L field, located offshore Kleberg County, Texas in waters of the Gulf of Mexico, a field re-habilitation project targeting bypassed or only partially produced gas-condensate. During the period from January 1980 to February 1995, the field had produced a total of 138.9 Bcf of gas. Its principle asset is a 33% working interest in a 20.83 per cent. net entitlement interest (after deductions of overriding royalties) in the Mustang Licence Area.

Speaker : Andy Morrison, CEO

Sound Oil Plc

Sound Oil (SOU) is an Italian focused small cap exploration company, listed on AIM with strong liquidity and focused on turning our current portfolio of high upside assets into shareholder value.
They have begun a journey to become a mid cap, producing, Oil and Gas Company. Their target portfolio remains a blend of high upside exploration and development assets with some solid, cash generating production.
Speaker: James Parsons, CEO

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