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Couldn't change the title,figured new one was needed to bring attention to News.
NEW YORK, LOS ANGELES & ZURICH, Switzerland, Apr 14, 2005 (BUSINESS WIRE) --
(Investrend Research Syndicate) Ernest C. Schlotter, oil and gas analyst with Investrend Research Affiliate SISM Research has initiated coverage of Silver Star Energy, Inc. (OTCBB: SVSE) with a Speculative Buy/4 rating and a 12-month price target of $1.50.
Silver Star Energy, Inc., based in Los Angeles, has targeted low to medium risk ventures of natural gas properties in California and oil and gas properties in Alberta, Canada that have the potential for short-term returns as well as longer reserve lives. Through a series of strategic acquisitions via its key alliance partnerships, Silver Star Energy, Inc. has positioned itself for rapid organic growth.
"SVSE has only recently left the exploration stage and entered the production phase," said Ernest Schlotter, and added: "Our positive investment rating is based on Silver Star's exceptional near-term growth profile and its development and exploitation prospects. Our $1.50 price target is based on a 5.0x multiple to our 2006E EBITDAX estimate." The Company is already in a "new well site preparation" phase at its North Franklin property in California, and if successful, production from this well could be expected during the current quarter. Silver Star has financially secured its expenditure budget and, in addition, the Company will reinvest cash flow from operations. Schlotter also stated: "Increased drilling activities will lead to rapid growth in the Company's production volume, earnings per share, and cash flow and will ameliorate Silver Star's underlying net asset value growth."
SISM Research, based in Zurich, Switzerland, is a private investment research firm offering high-quality, independent, fundamental research on public companies since 1995. SISM writes, publishes and distributes research coverage, in both English and German, on micro- to small-cap public companies trading on the OTC Bulletin Board, NASDAQ and AMEX. This coverage is geared toward institutional and individual investors in both North America and in German-speaking Europe, a market that represents more than 100 million people. SISM Research is a content provider to Thomson Financials OneAnalytics/FirstCall, to Multex, and InvesTrend. Both SISM Research and InvesTrend Research subscribe to the "Standards for Independent Research Providers" at http://www.firstresearchconsortium.com.
-------------------- Greedy Because I'm Broke!!
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All the daytraders on the market will not deter my thoughts about the price of svse at the moment, I know with all the positve news and upcoming drillings and pipelines the price on the shares are going to continually rise with cash flow spiraling and debt lowering. That is a Fact Jack!
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Press Release Source: Silver Star Energy, Inc
Silver Star Announces North Franklin "Archer-Wildlands #1" Gas Well Spud Date -- Production Update Friday April 22, 9:00 am ET
LOS ANGELES, CA--(MARKET WIRE)--Apr 22, 2005 -- Silver Star Energy, Inc. (OTC BB:SVSE.OB - News) today announces that the Company has received a timeframe for the spud of the Archer-Wildlands #1 well. The drilling will commence in early May and the Company anticipates the well to be completed before May 15th. This will be the second in a series of wells to be drilled in 2005 in the development plan for the North Franklin gas reservoir. As earlier reported, Silver Star has advanced funds in full to the operator for the Company's 40% working interest cost of the well to completion. The "Archer-Wildlands #1" well is licensed, permitted and the well site preparations are ongoing. A drill contract has been signed and a drilling rig has been secured for the well. ADVERTISEMENT
Silver Star will be receiving the gas production totals from the "Archer-Whitney #1" well which went on commercial gas production March 21st. The Company now has been in production for one full month on April 25th and will report figures when received in full from the operator. Just as the Company recently reported its first month's oil production at the Joarcam 13-27 well, similar reporting will shortly be forthcoming from North Franklin.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high quality, low risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
ON BEHALF OF THE BOARD
Silver Star Energy, Inc.
Robert McIntosh-President
To find out more about Silver Star Energy, Inc. (OTC BB:SVSE.OB - News), visit our website at www.silverstarenergy.com.
-------------------- Greedy Because I'm Broke!!
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Press Release Source: Silver Star Energy, Inc.
Production Increases Now to Begin at "Archer-Whitney #1" -- Gas Flow to Be Increased to 2.5-3.0 Mmcf per Day Up From First Month's Start-Up Rate of 1.4 Mmcf per Day Monday April 25, 9:00 am ET
LOS ANGELES, CA--(MARKET WIRE)--Apr 25, 2005 -- Silver Star Energy, Inc. (OTC BB:SVSE.OB - News) is very pleased to report on natural gas production at the "Archer-Whitney #1" well from the first 29 days of full production, which began on March 23rd, 2005. At these initial rates, the average daily gross earnings for the well amounted to roughly $11,000.00 per day, or $330,000 in total for all partners. The initial rates averaged 1.4 Mmcf per day. This is the first of six wells planned to be drilled into this reservoir on the leases. ADVERTISEMENT
The well has now settled and matured to the point that the operator intends to open the choke in the coming weeks to accommodate the high tubing and casing pressures. Silver Star now anticipates that the well should reach 2.5 Mmcf to 3.0 Mmcf in the first week of May, after the operator analyzes the pressures, again before allowing any increase. This would equate to a doubling of gas and revenue to $660,000 per month. This would generate $7.3 million per year revenue at these rates. The Company and partners, over time, have targeted 4-5 Mmcf per day production, and the step up of production is a very positive development. 5.0 Mmcf per day would equate to approximately $12.0 million per year in revenue from the well.
The operator of the project has choked down and metered the flow and would be increasing the gas flow in small increments. The operator's advice to the Company is to be prudently cautious in these early production days and not to be overzealous in rapidly increasing the flow rates. The operator has now indicated that the behind-pipe pressure has been stabilizing, and Silver Star can now report that the plan is to safely open up the flow incrementally at stepped rates. The operator and Company have been cautious with this initial period as the well was put online, working in a slow and methodical fashion to ensure that the reservoir is developed properly. The well will continue to be opened up until the stabilization of bottom-hole pressure.
In addition, the well was shut in during the lengthy delay in tie-in, and the Company and operator wish to ensure that every measure is taken to ensure the integrity of the reservoir so as to protect the Company's asset which is of vital importance to the development of significant cash flow to Silver Star. Pressures have been monitored both at the well and across the length of pipeline to sale point. The overall volume flow of a gas field can be a lengthy process that must be undertaken with caution to avoid damaging the reservoir or well to prevent gas reservoir "coning" and drawing condensate into the sands by the outgoing gas.
The April 22 PG&E-Citygate gas was priced at $6.81 per mcf.
ABOUT SILVER STAR ENERGY, INC.
The Company is committed to the exploration and extensive development of oil and natural gas reserves throughout western North America. Company management is focused on an acquisition program targeting high-quality, low-risk prospects provided via key strategic alliance partnerships.
Safe harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Silver Star Energy, Inc. has little or no control.
ON BEHALF OF THE BOARD
Silver Star Energy
"Robert McIntosh" Robert McIntosh-President To find out more about Silver Star Energy, Inc. (OTC BB:SVSE.OB - News), visit our website at www.silverstarenergy.com.
Contact: Contact: Silver Star Energy, Inc. 1-888-803-SVSE (7873)
------------------------------------------------------------------------ -------- Source: Silver Star Energy, Inc.
-------------------- Greedy Because I'm Broke!!
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Silver Star Acquires Two More Sections of Joarcam Lands
LOS ANGELES, CA, Apr 27, 2005 (MARKET WIRE via COMTEX) --
Silver Star Energy, Inc. (OTC BB: SVSE) today is pleased to announce that the Company has increased and doubled its land holdings in the "core" Joarcam Project area. Silver Star has now acquired an additional two sections that are on trend to producing Viking sands, south of the current lease holdings. The two newly acquired full sections, if fully developed, would enable Silver Star the ability of drilling up to 32 additional wells.
The acquisition is from a private Alberta company. The purchase price for the two sections priced at $250,000 for the 70% working interest will be subject to the issuance of the equivalent value in Company common shares for the asset purchase.
The two sections are on trend to the Company's existing production holdings and represent an extension of the Viking sand that is currently in production from the 13-27 well since March 1, 2005. The Company has announced production results for the first 29 days, which was 1,414 barrels with an average daily production rate of 49 barrels per day. April production will be announced when the full month's production figures are received from the operator.
The long-life reserves in the Viking allow wells to be in commercial production for 20 years. Currently, the 38-degree API light oil at Joarcam is priced at $54.97 per barrel ($67.95 CDN). The prospect lands are located about 25 miles southeast of Edmonton, Alberta and there is year-round access to the property.
-------------------- Greedy Because I'm Broke!!
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