Silk Energy Ltd SLKEF

Energy Oil & Gas E&P

Silk Energy Limited is a Canada-based resource company. The Company acquires undervalued oil and gas assets in Kazakhstan. The Company, through its subsidiaries, owns a 50% interest in the KMG Ustyurt license (Ustyurt). The Company focuses on exploring and developing Ustyurt, an onshore oil and gas concession comprising approximately 6,500 square kilometers in the Caspian Sea region of the Republic of Kazakhstan.

GREY:SLKEF - Post by User

Silk Energy Ltd

Bullboard Posts

Post by Nickel77on Aug 17, 2010 12:52pm

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Post# 17357716

Financials- Tantallons Opinion

Quarter Results/Tantallon

TPB/Rocksolid,

Comments below are from the Ag or a c o m Site posted by Tantallon. Rocky/TPB; you have always held Tantallons comments in high regard. Do you agree with what he has to say? If not, please address the issues he has brought up.

“Just had a looksey at these things. I think it was an excercise in copying and pasting of past data more than anything new. As I expected there is really nothing going on with this company. Don't see why the CEO deserves $30,000 a month plus extra benefits when the company has basically shut down.

One must wonder just how the stock price would perform if all the NCIB buy back program was not in effect.

The company seems more excited about earning a "big" 4% interest on the "mystery" $6,000,000 loan. Yet its stock price has tumbled 75% (?) in the last 8 months. Now thats value added! I could be wrong but I thought this "loan" was said to be paid back shortly and yet its still on the books at June 30th.

The Nitinat spin out is a total joke. The three tranches of shares to be distributed will never happen in my mind. NZZ will go under first unless it continues in its parents direction of doing little while continuing to pay fees to doddle.

The new Bateman property seems to add as much value as the other Timmins area properties. What scares me is the NSR buy-back of $1,500,000 of the first 1.5% of its 2.5% NSR. I wonder who owns that. After the Langmuir experience (or shaft) I think all NSR's on all the companies properties should be made public. If not the Langmuir NSR MUST be paid back since management was involved. Horse trading should be a private enterprise not a public one.

I could go on but theres too much. The only positive I see is the cash balance, which is down considerably. This stock will trade at its cash value per share on a declining basis until something serious can happen. Which I don't forsee.

One last thing for management. Maybe change the expense item entitled "travel and related" to "European Vacations". Your properties are located in North America, act accordingly”.