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Last checked at 
18 Jun 2013 13:04
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18 June 2013
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Silvermere Energy plc
Β ("Silvermere" or the "Company")
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Further re Financial Position
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Further to the announcement made on 16 April 2013 with respect to the Company being in default of significant outstanding financial commitments on its I-1 Well, Silvermere announces that it has received a demand notice from Dominion Production Company LLC, the operator of the I-1 Well, for full payment of amounts outstanding to them totalling $229,445.29 on or before 15 July 2013. The demand notice states that if these payment terms are not met then Silvermere's interest in the 818-L Field will be sold by way of a public auction to the highest bidder on 6 August 2013.
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The Company remains in discussions with various parties with respect to refinancing the Company and a further announcement will be made as soon as practicable.
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Enquiries:
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Silvermere Energy plc Andy Morrison, Chief Executive Β | Tel: 07980 878 561 |
Sanlam Securities UK Limited (Nominated Adviser and Joint Broker) Lindsay Mair/Scott Mathieson/Catherine Miles Β | Tel: 020 7628 2200 Β |
Peterhouse Corporate Finance Limited (Joint Broker) Jon Levinson Β | Tel: 020 7469 0937 |
Bishopsgate Communications Nick Rome/Anna Michniewicz/Ivana Petkova Β | Tel: 020 7562 3350 |
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