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My guess is we'll have oil from land-based leases before vm179 (that is another off shore if im not mistaken) but that's just a guess based how long it took Silvermere to set up shop at I-1. I wouldnt bet we run into the same delays as Silvermere did. (I see this was discussed while I was typing)
A couple months ago I speculated Mustang Island would be the only production we see in 2012. Probably have to rescind that proclamation. Mason seems to be moving on things faster than I predicted.
xyx is the resident expert on the subject, but I think it's generally agreed upon that Mustang puts us on firm footing in the short term, which (arguably) cuts the risk and improves the viability of future lease development, to put it mildly. It's what comes after Mustang that will really cause things to get interesting.
Of course we all know TM's aiming at that 400 bopd.
Or should I say, "there's some incentive there?"
I think it's 160 - 250
10.3% or so
Plus of course 2% of additional wells down th road
GreyGoose must have lost the ability to type. I'm sure we'll hear from him when he regains consciousness
Hazard to guess he looks at this board every so often. He's created the impression that he cares about the success of this company, in all likelihood because he does care about the success of this company.
Folks we're sittin' at the apex of the perfect storm here. xyx I think you've explained that point plenty of times so I won't rehash.
There'll be twists and turns along the way, but truly, as a producing company, to people in-the-know those pullbacks will simply be buying opportunities for quite some time to come.
Ah the sweet sound of percolation. It's as if the oil's saying "get me outa here!"
Good Lord people. Do you not realize the CEO has stated there will be a "series" of PR's "within the next several weeks, ALL GOOD!?"
There's just no reason for this stock to be going d....oh wait, it's going up. My bad.
Certainly is good news, but I gotta say this (to me) is the real story.
Breakfast biscuit for y'all
17 July 2012
Silvermere Energy plc
("Silvermere" or the "Company")
Operations Update
Silvermere, the independent oil and gas company, focusing principally on exploration, appraisal and production opportunities in the US, is pleased to announce further progress with the tie-in of 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").
The jacket, being the lower section or "legs" of the offshore platform, was set in position on 14 July and pile-driving to secure it to the sea floor commenced on 15 July. As of last night, sea and weather conditions remain satisfactory.
Further updates will be provided as the work progresses.
If I'm not mistaken
Paradigm Oil and Gas is a good example of what can happen to WGAS pre-production, post-dilution.
Only gave it a real quick look, but the similarities appear to be almost uncanny.
Yes, and I think they'll keep working regardless.
Hats off to WEnergy for publishing the criticism and replying. Not to mention it seems we have a CEO who isn't going to lay up just because some dink with a debit card is hammering the pps.
May we all one day clamor for WGAS swag.
TM commented on 7/14. Y'all see that already? Website.
Really incredible volume and price action for a company with an oil rig under construction as we speak. Even if it is a basically 10% stake. The motives of whomsoever is punishing the pps remain to be seen.
"Higher lows" to those who can hear me.
Not much selling for a Friday close. Could be a little something for Monday morning.
Heh, we're all shell shocked from production delays and weeks of averaging down :) Afraid to start postulating about a trend reversal, and understandably so.
Gotta admit its exciting to think that at this very minute Silvermere's setting up our 10% er. 400 bopd (?) is nothing to shake a stick at.
You make a good point. I think Goose was just venting though. We don't know anything that ain't in a PR. I'm confident the dilution will be put (at least partially) to good use. Perhaps we'll hear more about it eventually.
Now, let's have another look at that Mustang Island facility shall we xyz? :D
Meanwhile, Silvermere's experiencing a trend reversal to the upside.
And all this on a lousy $7500 or so worth of shares.
At least someone jumped my 0044 bid
Shur would be cool to see some pics of the Mustang Island facility though. Maybe once it's up and running and propelled our stock to, oh, 35 cents, they'll add it to the website.
I agree. Things would have been different without the delay, but that's ancient history now. Mustang Island is moving forward. We got our PR on 6/19 and I don't mind grabbing a few interim details off of Silvermere PR's. In fact, I rather like it that the company isn't groveling over every little step forward on the Mustang Island deal. True or not it sort of says "hey, that projects moving along just fine. Either it'll produce or it won't. Meanwhile we're looking at what's next."
Heheheh ... ouch ... <eom>
No access to L2 today. Hopefully share swapping ey?
"Well" now we probably get to observe what price action looks like when a mm deliberately holds a stock back.
Could be a good show over the next couple weeks.
Excellent! Ladies and gents we're officially goin' a' prospecting!
Giddy up
Scraped this off a Silvermere message board somewhere. Probably old news, but affirmations are all we got at the moment. Looks like a snippet from a PR. Point? Silvermere diluting, good for all of us, and the tone of this PR suggests Silvermere is still gung ho and rearing to go.
We're debating a very minor and insignificant matter.
May you be correct on all points.
Hmm...Texans working over the 4th of July weekend...yeah...
Looks like waves 2-4 ft thru next week.
No idea what they like for a lift boat.
Anyone got the Sheep Specs on that?
I do believe Anthony Mason wants to build this company. Just hope he has an opportunity to make it happen.
I don't know if he "muscled" his way into the big chair or not. Heck, the old Paxton crew could very well have been glad to give it up under the agreed terms, but I know you hold the term "muscled" in high regard per your avatar GGoose so I'm not going to argue differently.
Now let's get that ?!#!#!%#! boat launched!
(Hmm....Did I take my medication today?)
I'm hanging in there. On the fence about adding today though. On the one hand this sucks, on the other hand I don't know how many of these penny stocks I've seen with charts showing low volume last minute dips a day or two before crazy turn arounds. Guess I'm hoping with the rest of y'all that the latter is what we're seeing here.
Starting to wonder if something has "gone wrong."
Not the price action one would expect at this point in the game.
Interesting article about a similar company that's had a very bad week.
Focuses on managements track record, and, well, we have new mgmt with (dare I say) one very good track record.
Here's hoping we catch a break.
http://seekingalpha.com/article/681061-independence-energy-management-s-history-foreshadows-a-troubled-future?source=google_news
I think the silence is a case of "If ya can't say anything nice don't say anything at all."
There's just nothing good to report at the moment, which once again reinforces my belief in the make-or-break importance of Mustang Island for this company. Yes a Plan B would B a nice surprise, but talk about speculative! The market/buyers have enough risk built-in rolling the dice on little recently diluted Silvermere holding together and the odds of the I-1 well producing sufficient flow rates to justify the investment.
That being said, all of these other acquisitions that remain in process (still think Redwater's been flushed) will gain relevance w/r/t the share price when and only when Worthington demonstrates that it's in the business of selling oil.