Silk Energy Ltd SLKEF

RE: Working Capital for ISM Dec 31 07

[millright]

wailer, You will note that the amount ISM has is much closer to what I forecast, than your fellow cheerleader tiny tonyg was spouting about. Another point is that ISM committed themselves to a very extensive exploration effort when they renounced exploration expenses related to the flow through issue. This company that has finally managed to get a third drill operating, after talking about it for months, managed only a piddling $600,000 per month exploration expenditure in the last quarter. How will they make out managing expenditures of more than double that amount in 2008? My bet is that even with all the additional time available from not having to manage the Jasper property [on which they did nothing, anyway], the pressures of getting rid of this spending committment will be so great, that another year will pass without a NI43-101. By the way, no one has ever explained to me why the NSR purchase recorded in the statements for the year ended September 30, 2007, was never announced until November 2007. This company seems to favour doing things retroactively. The NSR announced months after it had happened, along with contradictory [and non-sensical] explanations for dishing out the funds. And a retroactive stock dividend, that if worth anything, will benefit some former shareholders at the expense of current shareholders. Quite a bush league bunch of movers and shakers guiding this junior company!