Share Name Share Symbol Market Type Share ISIN Share Description
Soco International LSE:SIA London Ordinary Share GB00B572ZV91 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00p -1.41% 140.00p 140.00p 140.50p 142.75p 138.00p 142.75p 128,232.00 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 145.8 5.6 -7.0 - 464.74

Soco Share Discussion Threads

Showing 23876 to 23900 of 23900 messages
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DateSubjectAuthorDiscuss
20/2/2017
03:24
I notice that a key APEC meeting is being held in Nha Trang over the next 10 days:https://www.apec2017.vn/ap17-c/......which is conveniently adjacent to Blocks 125/6, which start a few km offshore.Politicians love a bit of signing symbolism at these things, so perhaps the final ministerial signing will emerge shortly?
emptyend
17/2/2017
10:38
Does this some of the reserves can be written back or does something else need to happen first?
stupidboy
17/2/2017
00:00
To confirm the kenobi/greyingsurfer exchange above there was certainly some sort of extension option on the FPSO (in 2017 I think) but the exact nature of it is unclear to me. Perhaps someone would like to enquire? You'll get a quicker answer than if I do it at present.It does indeed say NEW, and it's going to be on the platform, not the FPSO, where the existing equipment is (which currently has higher capacity). So it must be intended in some way to work in addition to. It they were replacing it with a lower capacity then they wouldn't also be planning to drill 18 new wells!I would certainly expect it to be incremental. Plus the possibility that a shut-down on one wouldn't shut down everything. Add that to the enquiry?
emptyend
16/2/2017
18:40
It certainly wouldn't be good business practice to leave things until production became jeopardized or they were held over a barrel by the supplier. On that basis, we should expect that the matter is in hand within the business plan.
redartbmud
16/2/2017
17:35
Yes I recall the discussions about pipelines, I think it's unlikely that a pipeline could be agreed with the partners. If they couldn't be persuaded when the oil price was, 120 and the fpso maxed out, seems unlikely they'll go for it now, however the expiry or option not to renew the lease (whichever it is), is this year, the company will have known about it, and perhaps moves have been going on to resolve this issue ? Although, things seem to have been on ice at the joc for the last year or two. K
kenobi
16/2/2017
16:52
Kenobi,Yes all of those are possible. As I'm sure you remember an option discussed a few years ago was to get rid of the FPSO when the lease expired and pipe to Bach Ho, where there's spare capacity. I think it's been suggested since that is unlikely, but who knows- certainly not you or me!However, while I think your 1a and 1b might well be part of the answer, if we know the FPSO lease is up for renewal, and the owners have not been helpful in terms of liquid handling capacity, then not renewing the existing FPSO lease might be something that would at least be considered. Though if it expires this year the timescales are probably such that it's not an option.Peter
greyingsurfer
16/2/2017
15:28
Peter, Last year we had SOCO telling us that the partners did not want to do shutoffs and that the fpso was not a bottle neck due to the amount of water rather than oil. Could it be that, 1) adding water removing capacity on the platform, is better than on the fpso, because a) it's cheaper, b) it doesn't interupt fpso operation, c) there are other plans for the fpso and they don't want to spend money on it (or can't get agreement?) Isn't it correct that it's just an option that comes up in 2017 for the fpso ? we have discussed here the possibility of replacing the fpso at that point with a higher capacity one. Whether moves are under way remains to be seen, I guess at this point it would be commercially sensitive ? Disappointing not to see a reaction from the market today, K
kenobi
16/2/2017
13:57
That might go a long way to explaining why they are putting the extra capacity on the platform, not the FPSO! Peter
greyingsurfer
16/2/2017
13:44
Peter,IIRC the lease expiry was 2017. I have the impression they haven't been very helpful.rgds
emptyend
16/2/2017
11:43
Hi StepOne - is it possible to over cynical where these things are concerned? (Probably) It does indeed say NEW, and it's going to be on the platform, not the FPSO, where the existing equipment is (which currently has higher capacity). So it must be intended in some way to work in addition to. It they were replacing it with a lower capacity then they wouldn't also be planning to drill 18 new wells! It's an interesting question as to why it's being put on the platform not the FPSO. As old lags will know they've spent years looking at ways of getting agreement about upgrading the FPSO equipment. One of the issues was always getting agreement from the FPSO owners. Does this mean they've failed to get agreement there? Or perhaps more interestingly that they couldn't get enough additional capacity on the FPSO? An even more interesting idea would be that they can see the end of the existing FPSO lease approaching (can anyone remember when - I don't have time to look it up), and they have something else in mind than just renewing when that happens - so don't want to spend a lot of capex on the FPSO. As K says - it's a bit vague at present - hopefully we'll get some details filled in before too long. And there's more news due in the pipeline too, of course. Great to see the market standing in open jawed amazement at how good today's announcement is! Peter
greyingsurfer
16/2/2017
11:39
On the 'vague' theme, the Trading Statement wasn't very clear about the outcome of the two recent drills - the expression 'encountered hydrocarbons' doesn't fill me with confidence but I hope it's understated good news rather than disguising bad news.
pumph
16/2/2017
11:20
Yes the liquids handling information is a bit vague, a move in the right direction, lets hope those 18 wells produce enough oil to make the fpso a bottleneck again ! K
kenobi
16/2/2017
10:54
IIRC H1 currently has no processing equipment - it's simply a wellhead platform and a transit hub from H4 (and daisychain from beyond that). There's not much space to install any separators, so it'll be interesting to understand what's being proposed.
steve73
16/2/2017
10:31
Peter - it says 'addition of NEW processing equipment'. The next sentence simply refers to 'the processing equipment' being able to handle 90,000. So, does that second sentence refer only to the new equipment, or does it mean that the total processing equipment (new plus old) will handle 90,000 a day? Or am I being overly cynical? StepOne
stepone68
16/2/2017
09:38
So capital expenditure for 2107 is expected to be about $50M? What about operating cash flow with oil at $55. What are the estimates based on current guidance?
kev0856153
16/2/2017
09:09
Good news - market uninterested as ever. Just to underline how poor share price performance has been here. Oil was a full $25 a barrel lower when we were at £1.25.
nigelpm
16/2/2017
08:07
Hallelujah, there is a God.
redartbmud
16/2/2017
07:34
The FFDP was formally submitted to the relevant authorities in Q4/2016. With this, we have approval of up to 18 additional wells, with locations and additional support to be provided at a later date, and the addition of new processing equipment to be installed on the H1-WHP. The processing equipment will be designed to handle 90,000 barrels of liquid per day with specific water handling capacity of up to 65,000 barrels of water per day.Presumably this is in addition to the existing, greater, liquid handling capacity on the FPSO? This will somehow work in parallel. I look forward to a bit more detail in the next presentation.Good to see clear evidence that all the parties are indeed to committed to maintaining, and increasing production.Peter
greyingsurfer
16/2/2017
07:20
All that I was hoping for in one RNS. Unlike others we have the cash for this expansion ready and waiting.
mrwaite
16/2/2017
07:16
At last! Let's see if it actually does anything to the share price! Recovery to start?
lauders
15/2/2017
16:39
I hope so, bought another tranche this morning at 1.40
the argus
15/2/2017
15:52
Patience me auld chinas this will come good 😊 Ying yang Yong
linton5
15/2/2017
15:03
@Kev0856153 The ADVFN message board is not a good format for researching stocks. It's mainly suited to general chat, and ramping and trolling!, as you can see from most of the posts on the threads. The premium boards are a better bet but you have to be a paid-up blue poster and as you've probably noticed there aren't many blue posters around.
orinocor
13/2/2017
11:41
Worth a read:http://www.hellenicshippingnews.com/?ide-turns-for-asia-oil-upstream-sector-as-crudes-ascent-ends-somber-spell/
emptyend
12/2/2017
18:19
He did. Nobody used it much.This is apparently becoming like Twitter.......people with nothing better to do than pursue silly personal vendettas (which is why I filter people who prefer personal attacks to anything of substance.......though that doesn't stop them winding up others).
emptyend
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