Silverstone is an E&P company incorporated under the laws of Scotland, with company registration number SC279865 and registered address at 3 Queens Gardens, Aberdeen, AB15 4YD, Scotland, the United Kingdom. Silverstone’s website is www.silverstoneenergy.co.uk. Prior to the Transaction, Silverstone is a wholly owned subsidiary of SVI (BVI), a wholly owned subsidiary of Storm, a Canadian based E&P company which has further interests in Canada and Tunisia.
Silverstone was established in March 2005 as a 50/50 joint venture between Storm and Lime Rock with the objective of becoming a profitable North Sea explorer and producer. In December 2008, SVI (BVI) acquired all Silverstone shares which were not then held by Storm and Storm transferred the Silverstone shares it held to SVI (BVI) in December 2009 making Silverstone a 100% subsidiary of SVI (BVI).
Silverstone is a participant in 22 licenses on the UK continental shelf and operator in 14. In October 2008, Silverstone successfully completed the development of the Victoria gas field in the Southern North Sea and this field is currently producing 9.5mmscf/d.
Silverstone has 10 employees and 1 contractor based in its headquarters in Aberdeen.
Silverstone Energy Limited Annual Report and Financial Statement for year end 31 December 2008