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Silk Energy Ltd SLKEF

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

Bullboard Posts
Comment by victor2009on Dec 14, 2010 3:00pm
160 Views
Post# 17845190

RE: Victor2009, Enlighen Us!

RE: Victor2009, Enlighen Us!Nickel77,

You're certainly right about doingthejob/aatozz' company of choice. ISM has become a rudderless ship, drifting around with no clear objectives or business plan. It takes off in one direction with some hoopla, meets with no success, and then runs off in another direction. With each failure, there's no explanation, shareholders wait around to see what the next adventure will be. The only constant with ISM is the management fee, investor relations and related administration continues month after month, and sometime into each new year we find out the management fee has been increased.

When you look back at that Randy interview that was posted, you have to feel for the poor shareholder that was dragged through all the broken promises to wind up 2009 with the admission that five years of talk and a little drilling had really accomplished very little. After that disappointment, to be hit with a 25% increase in management fee and Randy's parachute, was the ultimate insult.  The added exploration that Randy talked about, after the dewatering was looked after, never happened. It was something to talk about in the spring of 2007, when promotion of ISM was rampant, but it was never something that got done. As you say, the writing on the wall was evident to most early in 2007, and over the next three years the cheerleaders gradually realized that the warnings were valid. aatozz/doingthejob arrived when just about everyone else had thrown in the towel - and he still doesn't realize that about all that's left is the dregs of cash from the flow through that didn't flow through to exploration. That cash is being depleted at a rapid rate, with no revenue producing assets to show for it.

As you say, aatozz/doingthejob is bitter over his blunder in buying into the ISM story, and bitter over his naive belief that he could go to the AGM and do something about the floundering company he had bought into. He directs his anger at those that told him what was happening - because he doesn't want to face reality. Its sad, but he's obviously a youngster and if he learns from his mistakes, and listens to those that understand the game, he can recover and succeed in the future. Or he can waste his time, trying to shoot the messengers, and continue along his naive path to failure.
Bullboard Posts