this might be worth a look , read the RNS from this morning.

Silvermines Media PLC
04 February 2005


For immediate release: 4 February 2005


Silvermines Media Plc
('Silvermines' or 'the Company')

Proposed Acquisition of Zhibek Resources Plc
Approval of waiver to be granted by the Panel on Takeovers and Mergers
Proposed change of name to Cambrian Oil & Gas Plc
Placing of 45,000,000 Ordinary Shares of 1p each at 5p per share
Proposed issue of Warrants
Silvermines to hold Extraordinary General Meeting on 28 February 2005


Key Highlights

Silvermines has conditionally agreed to acquire the entire issued share
capital of Zhibek in consideration for the issue of 40,000,000 Ordinary
Shares at 5p each and the proposed issue of 13,333,333 Warrants

At a closing mid-market price of 7.5p per Ordinary Share on 26 January
2005, the date on which the Ordinary Shares were suspended from trading on
AIM, the acquisition values Zhibek at 3 million and Silvermines at 1.7
million

Placing through W.H. Ireland to raise 2.25 million gross (1.95 million
net) for working capital for the Enlarged Group

Proposed change of name to Cambrian Oil and Gas Plc

Under the AIM rules, the acquisition constitutes a reverse takeover and
requires shareholder approval at an EGM

The Directors and major shareholders, representing approximately 69 per
cent. of the existing Ordinary Shares in Silvermines, have irrevocably
undertaken to vote in favour of the proposed Resolutions

Enlarged Group will comprise the oil and gas exploration and development
assets of Zhibek, currently located primarily in the Kyrgyz Republic

Full details of the Proposals are attached

Copies of the Admission Document posted to Shareholders today are available from
W.H. Ireland, 26 Bennetts Hill, Birmingham B2 5QP. Suspension of the existing
Ordinary Shares is expected to be lifted following publication of this
announcement.



For further information please contact:

WH Ireland Silvermines Media PLC Parkgreen Communications
Tim Cofman-Nicoresti Paul Mc Groary, Chief Executive Justine Howarth / Victoria Thomas
+44 (0) 121 665 4615 +44 (0) 7930 568 160 +44 (0) 20 7493 3713

This makes interesting reading:

INFORMATION ON ZHIBEK

INTRODUCTION

Zhibek was formed as a joint venture between Action and Cambrian in February
2004, for the purpose of conducting oil exploration, development and production
activities in Central Asia and FSU countries.

Since its formation, Zhibek has acquired a number of oil production and
exploration interests in the Kyrgyz Republic from Action and Cambrian has
provided initial funding to Zhibek as seed capital for which it has been issued
ordinary shares and warrants in Zhibek.

Zhibek holds the following existing oil and gas assets in the Kyrgyz Republic:

Beshkent-Togap Water Injection Project - a 50 per cent. participating
interest in a water injection project being commissioned on the
Beshkent-Togap Oil Field in the south-western region of the Kyrgyz
Republic; and

Tash Kumyr Exploration Project - a 72 per cent. interest in CJSC KNG
Hydrocarbons, which holds the Tash Kumyr exploration licence NG-72-00 over
an area in close proximity to the major producing oil fields of the Kyrgyz
Republic. Previous work in the Licence Area has matured one prospect, at
South Karagundai, to near-drilling status. The Enlarged Group plans to
drill this prospect in late 2005 and to upgrade already identified
adjoining prospects and leads. TheDirectors and Proposed Directors
envisage, once a second well location has been identified, and assuming
sufficient funds are available that drilling will immediately follow
drilling of the initial well at South Karagundai.

In each case Zhibek's partner in these projects is KNG, the state controlled oil
and gas company and the Directors and Proposed Directors believe that the
successful conclusion of the above projects will enhance Zhibek's existing
relationship with KNG and lead to the introduction of the Enlarged Group to
other interesting projects within the Kyrgyz Republic.

The Kyrgyz Republic

The Kyrgyz Republic, formerly part of the USSR, is a landlocked mountainous
country in Central Asia covering approximately 198,500 square kilometres. It
borders Kazakhstan to the north, China to the east, Uzbekistan to the west and
Tajikistan to the south. Approximately 94 per cent. of the country has an
elevation over 1,000 metres above sea level, with approximately 40 per cent.
over 3,000 metres above sea level. Bishkek is the capital city and is situated
in the northern part of the country with Osh, the second largest city, located
in the south.

The population of the Kyrgyz Republic is estimated at approximately 5.1 million,
with Russian and Kyrgyz being the official languages.

The Kyrgyz Republic became independent in August 1991. The country is a republic
with a constitution that was adopted in May 1993. The head of state is the
President, elected through nationwide elections. The Government of the Kyrgyz
Republic ('the Kyrgyz Government') is the supreme body of executive power and
consists of a Prime Minister, Vice-Prime Ministers, Ministers and Chairman of
State Committees. The supreme legislative body is the Jogorku Kenesh
(Parliament), which consists of two chambers. The supreme body of judicial power
is the Supreme Court of the Kyrgyz Republic.

Beshkent-Togap Oil Field

The Beshkent-Togap Oil Field is located in the south-western region of the
Kyrgyz Republic. The field is approximately 14 kilometres long and 2 kilometres
wide and is situated approximately 300 kilometres west of the Kyrgyz oil
refinery at Jalal Abad and approximately 200 kilometres southwest of the
Uzbekistan oil refinery in the city of Fergana.

The Beshkent-Togap Oil Field was formed by a series of deepening fault blocks
created in Palaeogene sediments structured against a regional thrust fault and
uplifted against a localised high of older Palaeozoic rocks.

Drilling commenced on the Beshkent-Togap Oil Field in the late 1970s. Currently,
there are 43 and 28 producing wells in the Beshkent and Togap areas of the field
respectively. The Beshkent-Togap Oil Field is located amongst a number of
producing oil fields in the south-western region of the Kyrgyz Republic.
Kyrgyzneftegas has an operating workforce and operations have been conducted at
Beshkent since 1977. Numerous access roads and tracks provide access to existing
wells and facilities.

Electricity is supplied to all wells in the field by multiple grids controlled
and maintained by Kyrgyzneftegas. Crude oil production is collected by an
extensive field gathering system and pumped through a 15 kilometre pipeline to
Kyrgyzneftegas' treatment plant at Karakchikum in the Fergana Valley. It is then
trucked a distance of 10 kilometres to a rail siding in the town of Mahram and
transported by rail 250 kilometres to the Kyrgyz Petroleum Company's oil
refinery in the city of Jalal Abad.

A pilot water injection scheme was initiated in the Togap area in December 1988.
Although the pilot scheme produced an almost immediate response of increased oil
production, the planned water injection capacity was not maintained due to
injection well plugging and lack of funding. Major injection stopped in 1990-91
following the collapse of the FSU. No water is currently being injected.

Under the terms of the Beshkent-Togap Agreement, which is summarised in Part XI
of the Admission Document, Zhibek must design and fund a pilot project, to be
agreed with KNG, prior to committing to further expansion of the project across
the whole field. The parties have agreed to a pilot project design and to
establish initial oil production rates for each well in the pilot area in the
period immediately prior to the start of water injection. Forecasts will also be
agreed on the applicable rates of oil production decline. This data will be used
to determine incremental production from the project.

It is expected that increased oil production should be achieved within a few
months of the injection of material volumes of water into the reservoir. Once
improved recovery potential has been verified, the pilot project will be
reproduced in modular stages across the entire field.

Work on the agreed project has been initiated and Kyrgyzneftegas has drilled a
water source well for the project. Equipment has been purchased and is being
installed with water injection planned to start in Q1 2005.

The Directors and the Proposed Directors believe that a well designed and
sustained water injection project can raise the ultimate recovery from an
estimated 500,000 barrels to 2.3 million barrels with a possible upside of 7.1
million barrels. The current pilot program is designed to assess the response to
selective and sustained injection. Results from the pilot program will be used
to design an optimal expansion for water injection into the whole field.
Application of additional technologies such as stimulation techniques, including
acidisation, polymer injection and mini-fracturing, will also be considered.

Tash Kumyr Licence Area

The Tash Kumyr Licence Area is located adjacent to existing oil and gas
production operations mostly controlled and operated by KNG. These operations
date back over 50 years. During the Soviet era, substantial infrastructure was
built up around the southern and eastern margins of the Fergana Basin petroleum
province. KNG's operations include a major oil and gas gathering system and
storage facilities at the Mailisu 4 Oil Field, located approximately 40
kilometres from the South Karagundai prospect. The Mailisu 4 Oil Field system is
connected by pipeline to the Jalal Abad oil refinery further to the south. The
nearest production operations are currently conducted at the smaller Mailisai
Oil Field which is approximately seven kilometres from the South Karagundai
location.

The Bishkek-Osh Highway crosses the Licence Area and links this area to the
northern and southern regions of the Kyrgyz Republic. A series of unsealed roads
and tracks provide access to and within most of the Licence Area. There is
reasonable access to most of the South Karagundai site and a geochemical survey
has been successfully conducted over most of the Licence Area. A railway line
passes approximately ten kilometres from South Karagundai and may be used to
transport oil to the Jalal Abad oil refinery. Coal mining and petroleum industry
activities are conducted in close proximity.

The Tash Kumyr Licence Area extends over 840 square kilometres. It is located in
close proximity to the main producing fields in the Kyrgyz Republic, including
Mailisu, East Izbaskent and Izbaskent. Several small fields are also found in
immediately adjacent areas.

A number of prospects and leads have been identified in the Licence Area, the
largest being South Karagundai. The prospect is well positioned near existing
infrastructure including an electricity supply grid that crosses the prospect
area, a rail head approximately 10 kilometres away and an oil pipeline at the
Mailisu 4 Oil Field which is connected to the refinery at Jalal Abad.

A recent geochemical survey, using GORE-SORBERTM technology, has shown
hydrocarbon type anomalies that occur with the seismically mapped subsurface
structures at South Karangundai and Shink Sai.

The competent person's report set out in Part IV of the Admission Document,
estimates that there is a 1:2 to 1:3 chance of discovering at least 20 MB of
recoverable oil in the Tash Kumyr Licence Area at a relatively low testing cost.
The target area includes a number of sub-structures, all of which are capable of
trapping oil in up to three Pay Beds. Each Pay Bed has the potential for up to
20 MB recoverable oil.

Success in only one Pay Bed in the main South Karagundai sub-structure is
assumed for the Enlarged Group's business plan.

A substantial upside of up to 60 MB of recoverable oil exists for the main
substructure if oil is found in the three target Pay Beds as occurs in the
nearby Izbashkent field. If the oil is discovered in multiple Pay Beds in the
smaller adjoining sub structures then potential exists to further increase
recoverable oil volumes to above 60 MB of recoverable oil at the South
Karagundai prospect.

Although the Shink Sai prospect is less well defined by seismic and
geochemistry, the indicated structure is on trend with and of the same
structural fabric as a series of structures tracking back to the nearby Mailisu
4 Oil Field. Shink Sai is in a similar setting to South Karagundai where the
Palaeogene target Pay Beds have been mildly structured by the over-thrusting of
a flat layer of Mesozoic and Palaeozoic rocks.

Similar opportunities, including the Pishkaran lead, are believed to be possible
in a number of additional areas within Zhibek's Tash Kumyr Licence Area.
Geochemistry has indicated several positive anomalies where no seismic control
currently exists. These areas will be targeted for seismic and geochemistry
follow-up.

Additional seismic and geochemical surveys are currently in progress. The
results will be combined to identify potential targets for initial drilling in
the second half of 2005.


RESOURCE SUMMARY

Total Bishkent Topgap field project, including 1.8 MB (upside to over six MB)
pilot:

Tash Kumyr Exploration Prospect: 20 MB (upside to 60 MB if multiple Pay Beds contain
oil in the main South Karagundai substructure with
follow-up potential in adjoining three smaller
substructures)

CAMBRIAN MINING Oil and gas

Note the announcement this morning that Cambrian, the mining finance house, has subscribed for shares in an existing shell company called Silvermines and will be re-named Cambrian Oil & Gas. RAB Capital, the investment house has subscribed alongside. This comes as the company acquires Zhibek in return for 40 million shares worth 3 million at the suspension price. Zhibek owns oil and gas assets located in the Kyrgyz republic which borders China. Cambrian is primarily a mining business but recognizes that it has good deal flow in the oil and gas sector and therefore has created this vehicle with the purpose of making further investments. Overall, the impact of this will be limited to Cambrians share price but Silvermines may be worth a look for penny share investors.

wilbs,
are you around today?, it might be worth having a read through the rns SLV put out this morning, it`s quite long, but i think it makes for interesting reading, one to keep an eye on, especially the vicinity they are going to opeate in and the reserves etc etc.
dexter

Smaller companies report: Friday close
This is Money
4 February 2005
SHARES in smaller companies reached 3- year highs today, propelled by takeover speculation and upbeat earnings news. The FTSE SmallCap index closed 10.6 points higher at 2,928.6, its highest level since July 2001, while the FTSE 100 ended 33.2 points higher at 4,941.5.





Aim-listed Silvermines Media shares closed 3p higher at 10.50p, as trading in the stock was restored following the confirmation of a reverse takeover move. Silvermines said it has agreed to buy Zhibek Resources, an independent oil and gas company operating in Kyrgyzstan, part-owned by Cambrian Mining, in a deal valuing Zhibek at 3m and Silvermines at 1.7m.

The group, which is to change its name to Cambrian Oil & Gas following acquisition, will issue 13.3m warrants and 40m shares in exchange for the share capital of Zhibek.

Hi dexter,
Sounds interesting and one to watch. Not had a chance to read through it yet but will make time this weekend. There seems to be quite a few oil & gas/mining companies wanting to join Aim or ofex. Gonna look into them as there seem to be some good prospects ahead.
wilbs

morning wilbs,
is there a website( free of course!) where ican find the ofex co`s, a bit like money am ?
dexter

Financial Times - Small Cap Briefing


Silvermines comes out of its shell
By Simon Greaves
Published: February 5 2005 02:00 | Last updated: February 5 2005 02:00

Silvermines, the Aim-listed cash shell company, has agreed to acquire all the shares of Zhibek Resources, an oil company, with the issue of 40m ordinary shares at 5p each and 13.3m warrants.


The acquisition values Silvermines at 1.7m and Zhibek at 3m, based on the closing mid-market price of 7p per ordinary share on January 26 when the shares were suspended.

The arrangements include a placing through WH Irelandwith institutional and other investors to raise 2.25m in working capital for the enlarged group, which will comprise the oil and gas exploration and development assets of Zhibek, which mainly operates in Kyrgyzstan, central Asia.

Silvermines will also change its name to Cambrian Oil and Gas. The issue of the new shares represents 37 per cent of the enlarged share capital and the acquisition is a reverse takeover under Aim rules, requiring shareholder approval at an EGM on February 28.

"For a five-year period the new Cambrian Oil and Gas company will have exclusive first rights of refusal over all oil and gas deals emanating from Cambrian mining," said Paul McGroary, chief executive.

Silvermines shares put on 3p yesterday to 10p. Simon Greaves

morning dexter,
I dont know where these weekends go!!
Ive been looking at a few ofex companies, I had a quick look on www.ofex.com but not had the chance to look properly. If markusantonius is out there, he may know some good sites. Are you in on slv? I will see what the price is like tomorrow. Have you got a target in mind?
wilbs

wilbs,
i jumped in on friday, it jumped to 18p or so at the start but i waited until it settled and bought at 11p. target wise, i think it will be volitile so if it jumps to 18p again i`ll sell and dive back in again. IMO, this could be good for a bit of day trading for a while, that`s the plan anyway!. if you uncover any ofex gems could you let me know?
thanks,
dexter

up 16.67% by 8.25am!, up up and away for a quick profit.

Morning dexter,
You have picked out a good little in/out one there. I may get in if it drops a bit. Wish csh would release a bit of news.
wilbs

thats me in at 11p. There seems to be some big buys coming in at 12p+. Lets see some more upward movement. I Fancy some day trading on this.
wilbs

wilbs,
those 12p+ trades were the buys from earlier today, that must have been what pushed the price up at the start, i think the drop back is just mm`s playing, IMO it will rise again once it has settled a bit. good luck
dexter

Cheers dexter, wish you luck to.



wilbs

This the SLP rns from friday regarding their stake in SLV/ COIL.
Dexter.

For immediate release 4 February 2005

SILENTPOINT PLC

('Silentpoint' or 'the Company')

Update re. Investment in Silvermines Media plc ('Silvermines')

Silentpoint, the AIM-listed investment company, is pleased to note today's
announcement from Silvermines, a company in which Silentpoint currently has a
40.1 per cent. interest.

Highlights

* Silvermines to acquire Zhibek Resources Plc, part owned by Cambrian Mining
Plc

* Silvermines will comprise the oil & gas exploration and development assets
of Zhibek, currently located in Kyrgyzstan

* Silvermines' proposed change of name to Cambrian Oil & Gas Plc

* Silentpoint invests in placing of new shares alongside Cambrian Mining Plc

* Cambrian Mining Plc agreement to offer all of its potential future
opportunities in oil and gas interests to the Company in the first
instance.

Commenting on the proposed Acquisition, Smit Berry, Chief Executive of
Silentpoint PLC, said:

'Cambrian Oil & Gas will own interests in two compelling projects in the Krygz
Republic. The Beshkent Togap field contains an estimated 65 million barrels of
oil with upside potential to 76 million barrels and Zhibek will shortly start a
pilot workover program. There is also a licence (72%) in the Tash Kumyr region,
where the company has used seismic to identify five drilling prospects showing
good geophysical evidence of commercially viable oil and gas reserves.'

Haresh Kanabar, Chairman of Silentpoint PLC, added:

'Cambrian Oil & Gas has a focused strategy and the incoming management team
have been active in Kyrgyzstan for over five years and have established a
strong presence in the country through their early involvement. We believe that
the reversal of the business into Silvermines will deliver further benefits
which will enable it to maximize the full potential of the opportunities in the
resources sector.'

For further information:

Silentpoint plc

Haresh Kanabar, Chairman 07802 858893

Smit Berry, Chief Executive 020 8656 4648

Background

The announcement released by Silvermines includes details regarding the
proposed acquisition of the entire issued share capital of Zhibek Resources Plc
('Zhibek'), an independent oil and gas company operating in Kyrgyzstan, part
owned by Cambrian Mining PLC.

The proposed acquisition constitutes a reverse takeover for Silvermines
pursuant to the AIM Rules and is therefore subject to the approval of
Silvermines' shareholders at an extraordinary general meeting.

It is also proposed that the name of Silvermines be changed to Cambrian Oil &
Gas Plc and that trading in the enlarged share capital is expected to begin
during the first week of March (AIM: COIL).

Under the proposals, Silvermines will enter the field of investment in oil and
gas exploration and development, through the acquisition of Zhibek, the
existing business of which will be continued and developed. This will bring
with it not only the oil and gas exploration and production, but also a
continuing relationship with Cambrian Mining PLC, which, on implementation of
the proposals, has agreed to offer all of its potential future opportunities in
oil and gas interests to Cambrian Oil & Gas Plc in the first instance.

In addition, the announcement details that Silvermines has concluded a placing
which has raised 2.25 million, before expenses, for the enlarged company.
Silentpoint is pleased to report that it subscribed 100,000 for 2,000,000
shares in Silvermines pursuant to the placing, alongside Cambrian Mining PLC
which invested 500,000 in the placing.

Following completion of the transaction, Silentpoint will hold 11,280,000
shares representing 10.4 per cent. of the issued share capital of Silvermines
and 3,093,333 warrants.

morning dexter,
I see we have got the big spenders out today. 700 trade!! WOW!!!
seo are doing well.
wilbs

morning wilbs,
you must be laughing with SEO, i must admit i was hoping SLV would have been a little more lively, although i still think it is cheap and that it will jump when the name is changed.
dexter

dexter,
seo is doing great, alot of profit takers are jumping ship. Hopefuly more updates on other trials will be out soon. Do you know when the name change will take place?
wilbs

wilbs,
As far as i can tell, the new name will take effect from 1st of March, following their EGM on 28th Feb. What are your views on the prospects?, as i`ve said before it looks very very promising, and if there is`nt a jump before the EGM, i can see one just after IMO.
Dexter

dexter,
IMHO I think it may be one to tuck away for a while. I agree with you that the price may rise before the EGM and the name change but the price will be volatile as traders will be jumping in and out of any rises and drops.The company looks very promising.
wilbs