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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Sovereign Oil | LSE:SOGP | London | Ordinary Share | GB00B0K9D075 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.25 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 4.25 | GBX |
Sovereign Oilfield (SOGP) Share Charts1 Year Sovereign Oilfield Chart |
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1 Month Sovereign Oilfield Chart |
Intraday Sovereign Oilfield Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 09/3/2010 | 13:04 | Sovereign Oilfield Group | 414 |
| 18/5/2009 | 19:26 | RUMOURED IRAQ CONTRACT/MAJOR VALUE | 22 |
| 17/1/2007 | 20:52 | Sovereign with Charts & News | 1 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 16/2/2010 13:37 by quraishim andrbea...correct they have worked hard to slim their division....cap at 700k, its anybody's guess.........very illiquid stock any positive market can demand multiple of todays price. |
Posted at 16/2/2010 13:13 by andrbea read this dd. 28.1.10 (a post on iii)based on the Proactive note of 19.1.10: 'Sovereign Oilfield Group (AIM: SOGP) said its fabrication division continues to trade profitably and generate cash' "When you have profitability and cash generation surely the debt issue can be worked out. They have already done a lot to reduce the debt. The solutions of debt for equity or cash injection look like they would dilute current holders, but we are at such a pitiful valuation anyway! Any punt would not be for widows and orphans, as they say!" |
Posted at 27/1/2010 14:08 by rockabilly. Nice one .....no answer jot?Re: Current share price....told ya |
Posted at 08/12/2009 12:37 by jotoha2 Rocky , please look at the share price of scoty since you started ramping it, it has gone down big time, through consolidation and because it was a dog of a share , anyone who invested in your time would be sitting on a 90% loss , thats how good your advise was! |
Posted at 02/12/2009 14:22 by pbracken I've always highlighted the risks that attach to SOGP. Strangely, though, the news of the past few days may expedite what this company desperately needs; a restructuring of the balance sheet that involves a combination (probably) of a debt write-down and a debt for equity swap.The problem for SOGP is that its acquisitions on the drilling side did not deliver. That meant the debt (which was incurring very high rates of interest) became unsupportable. SOGP paid down as much of the debt as it could (£17m in the way of cash and fees has been paid back to the lending consortium in the past 18 months). But still this has not been enough. Since the lenders agree that the fabrication division is a viable business, I suspect they will take the pragmatic view and write-off some of the debt in exchange for warrants or equity of some sort. Because the founders hold over 60% of the stock, this will need to be negotiated on fair and reasonable terms. So although all shareholders can expect to be diluted, it will not be on terms that leave little or no value for them. This ain't over yet, as they say. |
Posted at 01/12/2009 00:27 by rockabilly. Has this share leapt back up again......nope.....I'm looking to have the dealings in SOGP investigated folks....just so ya know :-) |
Posted at 10/11/2009 10:26 by pbracken hp: any source for that speculation? I think business is OK just now for SOGP - the oil services sector is beginning to gain traction from the high oil price. And if Burgess could manage to get someone to buy the debt at say 50p in the pound (which the banks would take, I'm sure) then SOGP will soar. Don't hold your breath - but interesting times, one way or the other.... |
Posted at 23/10/2009 10:32 by pbracken SOGP is not a traders' stock, superchip (notwithstanding the recent spike). The spread is a disater and liquidity is often dreadful. It remains touch and go for SOGP, imo. The debt is still too large in relation to revenues, so that's where the management (presumably) is focusing its efforts. If it can get the debt down to reasonable levels and if trading continues to improve, it will enjoy a considerable re-rating. But those are big 'ifs', which is why the share price is in the gutter. Definitely worth a look, but high risk nevertheless. |
Posted at 20/10/2009 15:13 by pbracken Well, at least SOGP is in play.The risk/reward is on a blunt knife edge. For sure, the main business is performing acceptably. Oil at plus $70 is good for business, because it supports rig activity, which is where SOGP makes its money. The issue surrounds the debt. How does SOGP reduce its borrowings in order to ensure it can trade less encumbered? Tricky. But (IMO) doable. Therein lies the investment case. Because if SOGP can break free of the debt burden, it will fly. Interesting times. |
Posted at 12/8/2009 08:10 by pbracken The FY results (to March 09) are due end of the month/early September and will not be pretty, to say the least. It's what SOGP says about prospects since the debt was restructured and reduced that is going matter. Burgess is confident that with oil stabilising well above $50 and the cost of rigs massively down, SOGP will benefit from a growing demand for its products. The Fabrication Division is (always was) a decent business, and now freed of supporting the loss-making DDS and crippling debt and interest rates, it should be able to show it. Next year's EBITDA should be around £6m (maybe more). SOGP's EV (debt plus mkt cap) is around £28m. Assuming interest charges of £2.5-3m (perhaps less) that provides an operating profit of c£3m. Given that SOGP nearly sank, some may reason it is fairly valued at 10p a share - it has yet to show it is out of the woods. But for me, what makes SOGP attractive as a speculative BUY is that for the EV (assuming stable debt levels) to grow by a mere 20% to £34m, the share price has to quadrupple. An EV of £50m would equate to a share price of 130p. Seems outlandishly unlikely, I know, but if trading does pick up... Of course, meanwhile SOGP will be trying to get the debt down further - a scenario that proffers further upside were it to succeed. High risk, of course - and don't forget that the full year report will look awful. The BOD is likely to 'kitchen sink' the results, thereby draw a line under the recent travails, and argue that the current FY will see the company return to (modest) pre-tax profitability. Whether market believes the story is another matter. |
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