Silvermines Media PLC
01 March 2005


Silvermines Media PLC (the 'Company')
1 March 2005


First Day of Dealings of Enlarged Share Capital on AIM
Acquisition of Zhibek Resources Plc
Change of name from Silvermines Media PLC to Cambrian Oil & Gas Plc

Silvermines Media PLC (AIM: SLV), to be re-named Cambrian Oil & Gas Plc (AIM:
COIL), a company admitted to trading on AIM on 15 July 2004 to seek acquisition
and investment opportunities, is pleased to announce its first day of dealings
on AIM today following its acquisition of Zhibek Resources Plc ('Zhibek').

The Company announced on 4 February 2005 that it had conditionally agreed to
acquire the entire issued share capital of Zhibek (including all outstanding
convertible securities) in consideration for the issue of 40,000,000
Consideration Shares and 13,333,333 Warrants. As of 26 January 2005 (being the
date on which Ordinary Shares were suspended from trading on AIM) the closing
mid-market price of an Ordinary Share was 7.5p, valuing Zhibek at approximately
3 million and Silvermines at approximately 1.7 million.

The Company has also raised 1.95 million, net of expenses, by way of a Placing
of 45,000,000 Placing Shares, undertaken in order to provide working capital for
the Enlarged Group.

Dealings in the Enlarged Share Capital consisting of 23,115,000 existing
Ordinary Shares, 45,000,000 Placing Shares and 40,000,000 Consideration Shares
commence on AIM today.

Commenting on the successful completion of the Acquisition and Placing, John
Byrne, the Company's Non-Executive Chairman, said:

'The formation of COIL now enables Zhibek to develop its strategy of oil and gas
exploration, development and production, both internationally and particularly
in the Kyrgyz Republic. It is a very exciting time for us as we continue the
development of the initial two projects - Beshkent Togap and Tash Kumyr - and
look forward to reporting our progress in the near future.'

Full details of the Proposals were set out in the Admission Document to
shareholders dated 4 February 2005. The definitions in the Admission Document
also apply to this announcement.

For further information please contact:

Cambrian Oil & Gas Plc
Neale Taylor, Chief Executive 0207 493 7671
Paul Mc Groary, Non-Executive Director 07930568160
(former Chief Executive, Silvermines Media PLC)

W.H. Ireland
Tim Cofman 0121 6162101

Parkgreen Communications
Justine Howarth/Victoria Thomas 02074933713


This information is provided by RNS
The company news service from the London Stock Exchange

**************************************************
Silvermines Media PLC
28 February 2005



Silvermines Media PLC

28 February 2005



Result of Extraordinary Meeting



Silvermines Media PLC (AIM: SLV), a company admitted to trading on AIM on 15
July 2004 to seek acquisition and investment opportunities, is pleased to
announce that all of the resolutions put before the Extraordinary General
Meeting today were duly passed.



Accordingly, the 45,000,000 Placing Shares and 40,000,000 Consideration Shares
have been conditionally allotted subject to Admission, which is expected to
occur at 8.00am on 1 March 2005 and the Company's change of name to Cambrian Oil
& Gas Plc will become effective at that time.



Upon Admission, the members of the Concert Party will own approximately 45.8 per
cent. of the Company's issued ordinary share capital (assuming members of the
Concert Party do not exercise any Warrants or Options). If all such Warrants and
Options were exercised the members of the Concert Party could be interested in
up to 53.8 per cent. of the further enlarged share capital of the Company.



Full details of the Proposals were set out in the Admission Document to
shareholders dated 4 February 2005. The definitions in the Admission Document
also apply to this announcement.



For further information please contact:


Cambrian Oil & Gas Plc
Neale Taylor 0207 493 7671
Paul Mc Groary, Non-Executive Director (former Chief Executive of Silvermines 07930 568 160
Media PLC)

W.H. Ireland
Tim Cofman 0121 616 2101

Parkgreen Communications
Justine Howarth/Victoria Thomas 0207 493 3713




This information is provided by RNS
The company news service from the London Stock Exchange
***************************************************
Silvermines Media PLC
01 March 2005


Silvermines Media PLC (the 'Company')
1 March 2005


Directorate Changes


Further to the announcement regarding first day dealings in the Company's
Enlarged Share Capital on AIM today, the Board of Silvermines Media PLC (AIM:
SLV), to be re-named Cambrian Oil & Gas Plc (AIM: COIL), announces the following
directorate changes.


Smit Berry and Haresh Kanabar have resigned from the Board as Non-Executive
Chairman and Executive director respectively, with immediate effect, to focus on
their other business activities. Paul Mc Groary will step down as Chief
Executive to become a Non-Executive Director of the Company.


In addition, the Board of the Company is delighted to appoint John Byrne, aged
55 as Non-Executive Chairman, Neale Taylor, aged 62 as Chief Executive, Jurgen
Hendrich, aged 43 and lan Ennis, aged 63 as Executive Directors, and Jonathan
Malins, aged 57 as Non-Executive Director, all with immediate effect. The newly
appointed directors are all directors of Zhibek Resources Plc.


For further information please contact:

Cambrian Oil & Gas Plc
Neale Taylor, Chief Executive 0207 493 7671
Paul Mc Groary, Non-Executive Director (former
Chief Executive 07930 568 160
of Silvermines Media PLC

W.H. Ireland
Tim Cofman 0121 616 2101

Parkgreen Communications
Justine Howarth/Victoria Thomas 0207 493 3713




This information is provided by RNS
The company news service from the London Stock Exchange

oilyyrag, looks like you are quickly grasping the picture and that to understand COIL you have to look at the other members of the group....CBM/XTR and MEO and Elko Energy (COIL own 29% and due to be foated on AIM early next year). Below is the latest info on where the MEO shares are held. The 42m Apr.07 options 25 cents, could be more pivotal to COIL than their 25%, IF??? the share price of MEO currently 53 cents!!! continues to rise.

Methanol Methanol Australia Limited

ASX Code MEO Shareholders 1,850
Ordinary shares 197.3m
Cambrian Oil & Gas Plc 24.6%
Geoff Albers Group 13.29%
Santos Limited 10.5%
Directors 7.7%
Options 30-Apr-07 expiry, $0.25 ex pr 52.7m
Fully Diluted 250m

..............................................

As one can see from the above COIL have ended up with most of the options circa 42m, if these were to be taken up, then COIL would own 42+48.5=90.5m shares, which is 36.2% of the fully diluted share capital of MEO. If they take the maximum allowed under ASX rules 20m, then COIL would end up with 27.4%. It was intimated at the AGM that, there was the outside chance, the balance of 22m options could be bought in by the CBM group, after negotiation with the ASX.DYOR

The current valuation to COIL of their MEO stake is circa 15m, whereas the Market Cap of COIL is 11, there other investments are thrown for free.

The boys from MEO, COIL,CBM and XTR were in London last week giving presentations to the city and I would not rule out some kind of floatation on the UK market in the middle of next year, which is one way of raising the cash themselves and as you have pointed out....cut out the big boys.

Rodders

green line = 200 dma
red line = 50 dma

As far as i can see, sp is trading in a very narrow band, with probably some support at the 50 dma level, and with mirrored resistance at the 200.


For some strange reason, oilyrag has asked me for some comment, though my non-analyatical mind wonders why .....

For me, the company's cap makes this far too small to interest me ..... indeed, its minute size in today's very difficult climate for E&P companies in general, makes me wonder why any investment is warranted at all .... having had the briefest of scans of this thread, the company seems typical of many its ilk ..... lots of maybes, perhapses, and in the event thats etc etc ..... all (imo) a load of "blue sky", if that good ...... IMO, there are many many more companies with much better prospects - GOO, CHP and VOG if you want to press me

Thanks for your view cynic, it helps one to keep a fair balance. No one has answered the real question yet. HOW MUCH IS 1 TRILLION CUBIC FEET OF GAS WORTH? HOW DO WE CALCULATE THE POTENTIAL VALUE OF MEO.AX?

Very difficult to put a value on something that is still in the ground and btw, there is estimated to be 800 million barrels of condensate (light sweet crude) and 6 TCF of gas, in MEO's 100% concession in the Timor Sea. When I asked the question at the AGM as to the possibility of a major coming onboard MEO at the AGM, the spokeperson said ''why give away the possibility of 200m to 300m in revenue, when we could fund the drilling program inhouse'' hope that kind of gives you an idea. The cost of the drilling program is estimated at 20m. DYOR

Rodders

oily .... i am afraid i would not know where to start to answer your question .... but as a comparison, have a look at VOG's performance who are also allegedly sitting on similar huge reserves ...... ain't worth a bean until it starts coming out of the ground

cynic - Agree with you about oil/gas in the ground. A plus for COIL over VOG is that their investment in MEO is sitting in friendly waters, Australian territorial. DYOR

Rodders

Rodders how long do you think we have left at these prices. Obviously there's a lot of water to go under the bridge, forgive the pun, before true value is added to this epic. Given that COIL own 24.6% of MEO.AX, their share of 20million drilling program would be 4,920,000., divided by 107,000,000 million shares, which is 4.6 pence per share. The potential profits of say 250,000,000 would be by the same calculations, worth 57.5 pence per share. Assuming no further dilution of Coil shares. Based on the current sp of MEO, COIL should be worth at least 11.5 pence. Drilling due to start in August 2007? HOW LONG DO WE HAVE LEFT TO GET IN?

Hi Rodders, me again. I may have found the answer to my question on PELE news release today. $2.5 to $3 per thousand cubic feet.This equals $3000 per million cubic feet, or $3000,000,000 per trillion cubic feet. which is approx 1,579,000,000 or 1.5 Billion. Therefore 14 Trillion cubic feet could be worth 22 Billion. I hope I havn't used too many noughts. Could someone confirm ball park figures, ta.

oily .... i see that the quoted spread is currently 3.25/4.00 - i.e. if true, it makes the stock virtually untradable, especially as there are intrinsically so few shares, let alone ones floating about.

Yes I know I've been locked in for about 18 months on this one, but at last there is a chinck of light at the end of the tunnel. Another year or so could be a nice little earner.

oilyrag

see my post on TCF values on EME . Yours too high

14TCF if found but not near production and 270m off Darwin, I think you said, is $700m tops once found.

Mind you if you want the middle of nowhere, 270m off Darwin is just about as nowhere as you can get --- could be uneconomic even at this size

The real online spread is 3.288/3.7p, the price is rather weak today, so a limit buy of 3.5p, might be accepted. DYOR

Rodders

Hi Confidant, if you take a look at MEO's website....

http://www.methanol.com.au/_home.asp

you will see that MEO are well ahead with plans to construct a Methanol and LNG plants close to already proven gas finds off Darwin and will be viable using 3rd party gas production. Whatever they find on their own 100% concession close by, will be the icing on the cake. DYOR

Rodders

My father had PMO shares a few years back @ 17pence. He got out at 21pence (unluckily for him). Does anyone see same potential for COIL as PMO? Im new to this game but would have thought that if this area off Austrailia that MEO have is what they say it is, surely it would have a major impact on COIL's share price?

Also don't forget COIL's 29% stake in Elko Energy, which is due to float on AIM early next year and by default 11.6% of Dragon Energy, which also hopes to float on AIM in the near future......

Elko, an oil and gas exploration company, has been awarded a 5,400 square
kilometre exploration and production licence in the Danish North Sea Sector,
which it holds with an 80% interest. The remaining 20% is held by the Danish
State, which has a direct interest with a full working interest. Elko is an
approved offshore operator and has set up a Danish subsidiary to carry out the
required work programme. Phase I of the technical studies has been completed,
confirming the substantial reserves potential of the licence area. Following
further ongoing technical work it is planned to farm down Elko's interest during
2007 in exchange for future seismic and drilling obligations being paid for by a
new partner.

In December 2005, Elko made a strategic investment of $2.3 million Canadian, and
currently owns approximately 40% of Dragon Energy Inc., a private Canadian
company with a significant development project in Gansu Province, China
("Dragon"). Dragon has signed a Joint Venture Agreement with a provincial
subsidiary of CNPC of China, the 10th largest oil company worldwide, providing
for the re-development of the Maling Oilfield in Gansu Province, China.

In the future Elko will focus on regions where its management has excellent
technical and commercial knowledge based on previous work experience, as well as
having relevant business contacts. These regions comprise the Baltic region,
north-west Europe, north Africa and the Middle East. Specific licensing
activities are presently underway throughout the core area with the exception of
the Middle East. With 32 blocks under evaluation, Elko is the largest licence
holder and operator of oil and gas licences in Denmark.

Rodders

rodspotty

Done no research on COIL -- will take a look. CBM a big holder are management you have to respect -- look at their exit of AEN absolute company maker So I will look, my numbers are v cautious but help me get an upside on a finds. Oilywag valuations are to high IMHO

Confidant - CBM/COIL/XTR all connected, CBM being the parent/banker.

Rodders

Trading suspended in MEO shares on the ASX pending an announcement by the company...

http://www.asx.com.au/asxpdf/20061130/pdf/3zw15zf3pkqdw.pdf

Remember COIL owns 25% of this company, however if you include their options its is 37.5%!!!!

Rodders

Rodders,

Just checked the news and no announcement has been made yet. Shares finished up 8% though. Any ideas what the news could possibly be?

Hi Rodders, do you think its good news.