Soco Share Discussion Threads

[ed 123] 09/9/2016 19:59

Yes, it was a good call of yours, Invisage, to take some money out of the market.

I did a bit of that myself but, looking at today's closing prices, I wish I'd done a bit more. Anyway, if I feed cash back in below my exit prices, I'll have edged ahead of the market.

I've no present plan to buy Soco shares, btw. It's not cheap enough for me at around 140p. Everything else being equal I would look at it at 125p - but only as a short-term punt.

If any Soco fans can tell me a good reason to buy the shares, I'd like to hear.

Anyone remember this? ....

The HLJOC is preparing a revised TGT full field FDP, which is expected to be submitted and approved in Q3 2015.

It's a quote from Soco's Trading and Operations Update of 29 January 2015.



Holders are still waiting for the plan and that is one of the reasons for the recent poor share price performance, imo. How can anyone feel confident buying the shares when the partners in the biggest asset seem not to be in agreement?

Btw, Invisage, don't worry about the snipers here. It's only their banter. I think they must secretly respect you for your good calls.

Have a good weekend, everyone, holders and non-holders :-)

[invisage] 09/9/2016 18:39

Nice down day....hopefully 6500 FTSE coming in coming weeks. Can deploy more cash. After all need to reinvest the dividends coming my way.

[invisage] 09/9/2016 14:50

Nigel Soco burnt 33m $ in cash in the first 6 months.It's in the cash flow statement. Your supposed to be an accountant!

[nigelpm] 09/9/2016 14:36

True - but will require lots of development money - presumably a farm out deal on the cards.

[nigelpm] 09/9/2016 14:35

Spot the guy who doesn't know the difference between "earning cash" and "P/L"!

[invisage] 09/9/2016 14:14

Soco was loss making in last set of results actually nigel. It is a self serving company

[nigelpm] 09/9/2016 14:13

RE: HUR - What is for sure is you've swapped out of a company with cash and earning cash to one with little cash and no earnings - with market capitalisations in the same ball park.

Brave but could pay off for you.

[joestalin] 09/9/2016 14:11

Is it known how much will be returned to shareholders? The RNS was less than committal.

The $52.7m earn-out payment associated with SOCO's disposal of its Mongolia interest in 2005 is expected to be substantially recovered during 2016 under the terms set out in the agreement.
The Company remains committed to its long-term strategy of targeting cash returns to shareholders and the Board will decide on the level and appropriate timing of future cash returns in light of the oil price, cash flow generation and expected capital expenditure.

[emptyend] 09/9/2016 14:02

Don't think so bountyhunter. I'm not expecting it for another month or two yet.Re HUR that is interesting news indeed - and shows what can happen with drilling surprises. Whats the development breakeven look like, I wonder?

[bountyhunter] 09/9/2016 13:37

out of here -> HUR following today's news;
...you'll probably get the Mongolian payment tomorrow now!

[invisage] 09/9/2016 11:07

STOB 7.7% dividend pays every quarter starting next week goes ex div

[invisage] 09/9/2016 09:37

GO DTG GO!

[invisage] 09/9/2016 09:36

GO LGEN GO!

[invisage] 09/9/2016 09:36

GO TRI GO!

[invisage] 09/9/2016 09:36

GO STOB GO!

[invisage] 09/9/2016 09:30

Go SPD GO!

[invisage] 09/9/2016 09:04

Go ezj go!

[nigelpm] 09/9/2016 08:59

Interestingly I was chatting to a friend last night who happens to be doing a PhD in human behaviour and with a particular focus on trolling and needless posting - I've sent him to these boards - if you'd like to take part in these studies to aid the benefit of mankind let me know Isaac.

[invisage] 09/9/2016 08:24

JoeStalin another UKIP supporter.

[joestalin] 09/9/2016 08:14

Nurse, he's out of bed again!

[invisage] 09/9/2016 07:25

"In the run up to, and the aftermath of, the recent referendum, the overwhelming majority of FTSE 100 companies, the employers' organisation CBI, the IMF, the OECD, the Treasury, the leaders of all the main political parties and almost all representatives of British universities forecast trouble, often in lurid terms, for the economy, in the event of the Leave vote. For example, claims were made by David Cameron and George Osborne that family income would eventually be reduced by £4,000 per annum, that mortgage interest rates would increase and that house prices would fall - claims which were supported, in terms, by Mark Carney of the Bank of England.



"City voices such as PwC and Goldman Sachs, and the great preponderance of banks and other institutions, also leant weight to this negative view. For example, Paul Johnson of the Institute of Fiscal Studies (The Times 28 June) stated that there was "near-unanimity" among economists in favour of Remain. Rather amazingly, he added: "I take as given that we economists were collectively right about the (bad) economic consequences of leaving the EU." Johnson then cites this consensus as evidence for the economic truth of the Remain case. This is a strange argument to advance since consensus forecasts from economists, who generally failed to forecast the last recession or the catastrophic flaws of the euro, are almost always delusional. As Warren Buffett has said, forecasts tell you a lot about the forecaster, but not about the future. Economic forecasts from over-confident pundits such as Mr Johnson are an important component of Benjamin Graham's 'Mr Market',

the mythical punter who gets everything wrong.



"Just as the combined intellectual weight of the 'good and great' could not see through the flaws in the euro, they have, with honourable exceptions, been unable to see that the principle flaw of the EU - an absence of democracy - will almost certainly lead to further economic and political chaos, and to more dire consequences for those who are subject to EU decisions. The overwhelming economic evidence is that successful countries are democracies -

Mr Johnson and like-minded economists really do need to stick that point in their pipes and smoke it. For all their faults, democracies produce the greatest level of prosperity and freedom. As in the case of the euro, the general public has a much better perception about this overriding factor than the consensus of intellectual opinion. I have written an article on this general subject for Wetherspoon News, which is attached at the end of this statement (appendix 1).



"Now that the gloomy economic forecasts for the immediate aftermath of the referendum have been proven to be false, 'Scare Story 2' is that failure to agree on trade deal with the EU will have devastating consequences. This was articulated by fund manager Nicola Horlick this week, who told Radio 4 listeners that leaving the Single Market would relegate the UK from the 5th-biggest economy in the world to the 8th or 9th. In contrast, Wetherspoon's experience indicates that reaching formal trade deals with reluctant counterparties is impossible - and it is unwise to try.



"For example, I personally agreed on terms with one of our biggest suppliers, a major PLC, for a new seven-year contract about 12 years ago. Although the deal was put in the hands of lawyers, it was never signed or 'ratified' during this time, although we traded successfully for the anticipated duration. We subsequently agreed on a deal for a further seven years - and that has not been signed to this day. Indeed, we have traded without interruption with this company for 37 years. In contrast, deals with some suppliers have been rapidly embodied in formal contracts. Over the years, we have agreed on thousands of 'trade deals' with big and small suppliers: some are formal contracts, some are 'hand-shakes', some are short term, but many last for decades. The commercial reality is that you can lead the horse to water, but you can't make it drink.



"This is especially true of the EU - an organisation of Byzantine complexity, run by five unelected presidents, with input from numerous other parts of the many-headed Hydra. It has struggled to reach trade deals with most of the world's major economies, for example, the USA, China and India. The UK is an enormous trading partner of the USA, generating a substantial surplus for us, in spite of the absence of a 'deal' and it would be unwise to clamour after a specific formal agreement to replace existing arrangements in these circumstances - the back of the queue is a good place to be. Former Chancellor Nigel Lawson (Financial Times, 3/4 September) and many others advocate leaving the EU and trading afterwards with it on the basis of World Trade Organisation rules. If the EU is keen for a trade deal, we should cooperate, but unelected apparatchiks like President Juncker can't be controlled - which is one of the main reasons we voted to leave.



"Common sense … suggests that the worst approach for the UK is to insist on the necessity of a 'deal' - we don't need one and the fact that EU countries sell us twice as much as we sell them creates a hugely powerful negotiating position. If WTO tariffs apply, the UK will receive twice as much as it pays. Boris Johnson, David Davis and Liam Fox will achieve far more for the UK by copying Francis Drake and playing bowls in Plymouth, rather than hankering after an EU agreement, although time spent in improving arrangements with Singapore, New Zealand and India, for example, may be well spent.

[invisage] 09/9/2016 07:22

Lol Tim Martin chairman of weatherspoons uses his results statement to have another rant about Brexit!!! Cheese

[invisage] 08/9/2016 23:04

One for you Fangorn :-)