Soco Share Discussion Threads

[emptyend] 17/10/2016 14:02

ps...LOL re the Brexit point, which I missed before replying. Seeking to claim the moral high ground when the facts contradict the contention re single market is a classic response of those with no case. The single market is a totem for Remainiacs - but the case for prioritising membership of it is completely without factual foundation and also flies squarely in the face of what the country voted for - as the then Prime Minister and Chancellor made clear at the time on TV:https://twitter.com/chrisdh68/status/787589909825675265

[emptyend] 17/10/2016 13:39

...except, of course, there WERE no buybacks at all at £4. The average was somewhat less than £3 I think.And, as we all know, the oil price fall had a dramatic impact....without which kenmitch would never bother coming here at all.....Of course I invest with some success (but less publically) in around 30 equities and funds other than SOCO, but it remains the case that, even at current low share price, the total return from my remaining investment in SOCO has been over 2800%, of which nearly 1000% has been taken as dividends.....so far

[kenmitch] 17/10/2016 13:21

I always try to see both sides of the argument emptyend and it has enabled me to invest very successfully too. I'm currently running an Investment Trust portfolio on Mike Walters site that started this April and is currently 27% up. Prior to that I ran a warrant and subscription share portfolio that nearly tripled before the number of warrants dropped to near zero and it had to be closed but still finished 100% up. . i.e whatever faults I have I am not an idiot and not an incompetent investor. Also you are the only poster I have ever lost my temper with. Perhaps that says something about you?

Your posts here on Brexit were a classic example of a completely closed mind. You are always convinced you are right (e.g on the Soco buybacks at £4 or whatever and with the share price now nearer to £1 than £4) where you got it very wrong. Yes they also paid 74p or whatever in dividends, but that doesn't alter the obvious fact that buybacks at £4 haven't worked when the share price then drops over 50%.

Occasionally buybacks work IF done in the right way and very few companies do that. THE notable exception is NEXT.

I'm not going to reply re Brexit as it would be pointless. No point discussing with someone unable to respect a different opinion.

[emptyend] 17/10/2016 13:06

ps....I look forward to kenmitch explaining how China, Russia, USA, Canada, Japan, India, Brazil etc etc manage to trade so successfully with the EU single market that those 7 are among the EU's 10 biggest trading counterparties....without EVER having signed a trade agreement with the EU, let alone being "part" of the single market.Nobody needs to be "in" the single market to trade with it. Nobody needs to accept freedom of movement to trade with the EU. Anybody and everybody can sell into the single market if they wish - and pretending otherwise is simply a Remainiac lie promoted by the obsolete and vote-losing Project Fear and its elitist zealots.

[emptyend] 17/10/2016 12:59

kenmitch yields to no-one on the matter of closed minds. He is a reknowned world expert on ignoring context and ploughing on with his idiocies. The ignore list is burgeoning. He seems oblivious to the 74p paid out to shareholders in recent years (a greater payout ratio than any non-major)....and, of course, the share purchases reduced the cost of this to the company (thereby effectively lowering their cost to a level not very much above the current share price)

[kenmitch] 17/10/2016 12:24

keith95.

Brilliant post but completely wasted here where the key posters (especially the one who is still seen as the SOCO expert) have closed minds and completely fail to understand that there is a plus and minus case for Brexit. It may or may not prove to be a disaster and largely depends on whether or not the UK can stay in the single market.

BTW minds are just as closed on SOCO. Should have been sold ages ago, and other oil shares were and are, far better choices. Anyone who holds on to a big winning share long after it has become patently obvious that the best of the gains have been had is imo a bad investor. To do so for year after year .. well it beggars belief that some seem to hang on every word posted by posters who do that.

I posted several times pointing out what a waste of money the SOCO shares buybacks would prove to be and that view was vindicated. At least if it had been used for dividends instead those still in love with Soco would have got something. This was another example of closed minds here.

btw I only look at this bb occasionally and mainly to see if/ when/ if ever, emptyend cottons on to it being pointless being an expert on a no good share. Far better to put that undoubted oil expertise to better use!

[dukedosh] 17/10/2016 11:57

Sorry for the O/T.

Some clueless that claim to be educated (most likely they are not) should actually put it to good use.

Congratulations Keith95, you're my first ignore of the year.

[invisage] 17/10/2016 11:36

eeJust shut up. Your comments are not worth the bandwidth they are written with.

[emptyend] 17/10/2016 10:51

Those of us who are equally well-qualified and intelligent as keith95 but who voted - without the same sense of smugness, superiority or contempt for the opposition - to Leave the EU, may simply wish to put him on ignore. Remainiacs treasonously undermining the democratic decision taken in June have no place in civilised debate - and if they don't like it then they should take their EU passports and move there whilst they can.It is entirely typical of Remainiac blindness on these matters that they wish to throw the baby out with the bathwater in their tantrums against an inconvenient democratic result and the will of 17.4mn people (3x the LibDem vote in 2010 - which saw the LibDems putting their policies into action in government, despite not having a mandate to do so).Sorry redartmbud, I agree with you completely that it is done and dusted and should have no place on here - and indeed was ignoring the aside until the uncalled-for outpouring of grief.

[redartbmud] 17/10/2016 10:30

Soco board NOT BREXIT board!

[keith95] 17/10/2016 10:02

"Still, at least we won Brexit (it seems, despite numerous court challenges and the like. Democracy is under threat.)"

Perhaps you might to inform the clueless what exactly what was won? Vote leave are applauding Teresa May for promising Nissan that UK gov. will compensate the company for any losses over EU import duties in the event of hard Brexit. EU funding for regeneration/research will now be funded by UK, EU lawmaking will remain (since 96% of it was UK lawmaking in anycase), pound is hammered, many European connected businesses are penny pinching with the uncertainty, and non EU immigration has always been higher than EU Freedom of Movement - and was never controlled even though it could have been. Imported commodities based on dollar will get more expensive after current hedges run out ....

.. so the only advantage is cheap labour making exports slightly cheaper in the short term - but then workers will be demanding pay rises to compensate them for the spike in inflation - if they still have a job that is.

A lot of time/money/effort just to stand still in maybe three years down the line after the financial shock is over.

So yup - leave won .. but what was won is entirely beyond my small brain... and I only have, BSc, MSc, & PhD plus passport - so statistically I was and am obviously a vote 'remain'.

In all of this, common sense states that with vote Leave now applauding the fall in the pound as a thing to 'celebrate' - the 'leave' story is changing with new data - which is a religious viewpoint - not very scientific and a strong indication to my mind that the country was 'bullsh*tted to' which a good proportion of the 17.2 million leaves were unable to figure out for themselves or didn't care because they didn't like polish/romanian workers and their shops replacing the dying UK high street.


... and more to the point, what clueless idiot would think that China/India will offer a better deal to a 65 million strong market versus a 500 million market that is already in existence? The average Brit might be stupid enough to believe this, but the Chinese are not so stupid.

[nigelpm] 14/10/2016 22:34

If you must bring up non Soc relevant stuff Nigel, at least explain what you are talking about? Or perhaps better just leave it alone!

Sorry. Not been particularly Soco relevant for some time though.

[greyingsurfer] 14/10/2016 21:03

Those hypocrites seem to be in vogue post Brexit.

Just a few :

Lily Allen
Paul Mason
Richard Branson
Most Labour MP's!

If you must bring up non Soc relevant stuff Nigel, at least explain what you are talking about? Or perhaps better just leave it alone!

[nigelpm] 14/10/2016 20:21

I wonder if someone at Windsor Council had Soco shares - stranger things have happened.

Those hypocrites seem to be in vogue post Brexit.

Just a few :

Lily Allen
Paul Mason
Richard Branson
Most Labour MP's!

[emptyend] 14/10/2016 19:07

That's terrible, deld. Fancy someone actually despoiling the landscape and habitat and by-passing the contentious bit of proper planning. ?

[deld] 14/10/2016 17:21

Remember this hypocrite...

WWF believes that oil exploration could bring a new and unacceptable level of risk for Virunga’s environment and communities. There is evidence that the park could develop economically without resorting to oil extraction. By visiting the region, Anna wants to raise awareness of the impact oil exploration could have.

[emptyend] 14/10/2016 12:54

All good points, including the one re our other shared interest!Avoiding disasters in the sector has been pretty difficult, but I did pretty well with BG and a couple of others since 2014, even though we continue to lag here. And at least SIA has returned 74p per share en route (which is ten times my original investment).Given the uncertainties thrown over so many countries in the last year or two, Vietnam seems a beacon of stability - and who would have thought that 20 years ago?

[lauders] 14/10/2016 12:47

There is that dividend, albeit small, coming next week too. Something to look forward to but no "compensation" for SIA's disastrous performance but every little bit helps!

[fangorn2] 14/10/2016 12:40

@EE

Did think about switching (as I noted here) but didn't do anything...sigh...

Count your blessings....you could've invested in Kurdi players.

GKP - Disaster
WZR - Disaster
Sham- Disaster
Genl- Disaster

Some more disastrous than others.

Wish I'd just put far more in Shell & BP myself.

Win some,lose some.

Still, at least we won Brexit (it seems, despite numerous court challenges and the like. Democracy is under threat.)

Future election results will now be challenged throwing our democratic process into turmoil I fear.

[emptyend] 14/10/2016 11:10

...ps....I am regretting not having swapped some of my SIA into TLW in Jan/Feb, which could have been done for even money at about 120p on 2-3 days. TLW now closing in on 290p, despite no material operational news from either company. Did think about switching (as I noted here) but didn't do anything...sigh...

[emptyend] 14/10/2016 11:05

TLW up 7.5% today. Much more liquid than SIA and more geared to the oil price - so an obvious choice for oil price bulls......still, the direction of travel is pretty clear. If TLW to get taken out, then that would leave $4bn+ looking for a home.