Soco Share Discussion Threads

[emptyend] 27/1/2017 08:55

Nothing of special relevance to SOCO, but I see that Saudi Aramco have appointed Gaffney Cline to assess their reserves, ahead of the float. That is a seriously huge task, if they are going to model them properly! But it will be interesting, very interesting, to see what they come up with.......

[ed 123] 23/1/2017 19:06

Where did this come from? ...

... strange that people can have such apparent confidence that nothing is happening ...

The FFDP is so long overdue and with the content not having been disclosed to the market, investors can't put their price to Soco. That's the reason for the low volume!

[emptyend] 23/1/2017 17:37

Which one? Toucan?As in Toucan be signed and announced any day now......?

[kenobi] 23/1/2017 17:24

and still we wait,

it's like that Guiness advert !

[emptyend] 23/1/2017 16:16

Looks like a record low-volume day today, at least barring the closing auction.............strange that people can have such apparent confidence that nothing is happening, when events merely need a signature from someone who was at Davos last week.

[nigelpm] 23/1/2017 09:08

Standard fare apparently - when one admin leaves they clear it out to be replaced with a "shell"

[emptyend] 20/1/2017 18:51

Trump hasn't hung around. This page has just replaced the "Climate Change" section of the White House website:https://www.whitehouse.gov/america-first-energy

[emptyend] 20/1/2017 08:32

Not really. With development wells, if they are more or less "as expected" then they wouldn't be deemed price-sensitive and so not need an RNS. It'll be part of a "Vietnam update", I expect, perhaps in the next couple of weeks if they get something signed at last.

[lauders] 20/1/2017 01:25

Shouldn't we have received some update on this news from December by now?

The two infill development wells on the Te Giac Trang field, the TGT-27P and -28P, drilled as per the approved Batch Drilling Programme, have reached total depth. The TGT-27P well was drilled to a total measured depth of 3,965m and the TGT-28P well was drilled to a total measured depth of 4,410m. Both wells encountered hydrocarbons throughout both the Miocene and Oligocene reservoir horizons, and are currently being analysed to evaluate the initial perforation strategy. The current operation is to rerun the liner on the TGT-27P well following the successful cementing of the liner on the TGT-28P well.

PS. I note there was a trading update on 26th January last year so perhaps very soon?

[ed 123] 18/1/2017 21:30

Simply following the wave pattern with some adjustment for events, greyingsurfer. :-)

The lows of August 2015, January 2016 and June 2016 were around 120p. November's low was higher - about 129p (anticipating a helpful move by OPEC?). The shares look to be heading down again, imo. Oil price has moved up since the last low but appears to have plateaued for now, so looking for a higher low but down a bit further from today, maybe 140p? Additionally, the lateness of the FFDP is becoming more of a concern, so knock, say, 5p off = target 135p.

Edited (with thanks to Flyinghorse1).

Any thoughts on why the FFDP is taking so long?

[greyingsurfer] 18/1/2017 15:47

'll call the bottom of this wave at 135pIs that a "call" (if so what's the reasoning) or just a bit pointless guessing?

[ed 123] 18/1/2017 15:36

While things are quiet, any guesses as to how low this wave of Soco's share price will go? It's dipped from about 162p to about 150p so far. I'll call the bottom of this wave at 135p.

Bets are off of course, if that Full Field Development Plan gets approved.

Where are we now? Ah yes, Q1 2016. Anyone remember this ....

The revised Full Field Development Plan (“FFDP”) is expected to be submitted for approval in Q1 2016.

It's taken from Soco's rns of 26th January 2016.

How time flies! :-O

[emptyend] 15/1/2017 21:46

.....also of passing interest on the same topic:http://www.ercequipoise.com/erce-attending-2017-oil-gas-council-asia-pacific-assembly/

[emptyend] 15/1/2017 21:39

Big conference in Singapore this week, with Antony Maris making an appearance in a session aimed at discussing where to find value in SE Asia:http://www.oilandgascouncil.com/event/asia-pacific/agenda....would be a good time to have some news out (even though, for the most likely news items, the timing isn't under SOCO's control)

[emptyend] 14/1/2017 11:38

Wholly logical, Steve. The main difficulty with stock selection at present (perhaps more so than usual, due to lower activity levels across the sector) is predicting the time and nature of events that are unconnected to published drilling plans or to the oil price. In SOCO's case that would include timing of the FFDP agreement. In PMO's it would mainly be the covenant deal with their bankers. But with TLW, how many saw the disposal to Total coming? Corporate deals are always the wild card.

[steve73] 14/1/2017 02:50

I sold my relatively small holding last week which I'd bought in the June dip, for no other reason than I wanted to use the cash elsewhere (GCL - Uranium play), and I preferred to keep my riskier oil plays (ENQ, IAE, PMO, and TLW) even though they had all made much larger gains than Soco, and retained BP & Shell (which incidentally had also made better gains mainly due to GBP weakness post Brexit) principally for the more dependable dividends.

I'll probably come back in here (again provided the share price doesn't rise too far too fast), once I free up some funds from elsewhere, as I do agree that it has more potential once the future investment direction is clarified.

[fangorn2] 13/1/2017 17:25

Clearly the "best" short term punts would be those companies highly gearted to POO -i e those with massive debts,reasonable/rising production such as PMO/TLW which offer the best "bang for ones buck" on any POO move.One hopes it heads upwards!!

For a more defensive bent, a decent yielder and/or absent debt is the home of those taking a longer term view one suspects.

Personally i suspect many of us are mix & matching - a bit of both.

They say never SELL SHELL, but having bought sub 1300p on the dip I am mightily tempted..If only I'd bought more!!!!

Still smarting from those Kurdish plays.

[ed 123] 13/1/2017 17:11

Emptyend.

Just to clarify, there was no personal attack from me. I put a question to you, viz:

Wilfully looking in the wrong direction?

As I'm sure you know, the point I was making was that the really important company specific matter for Soco just now is the content of that FFDP. The oil price will do what it does and is less important for Soco than for (almost?) any other oil company. Hence to talk about the oil price at this time seemed to me to be bordering on obtuse.

Moving on, I genuinely hope my concerns about the FFDP prove to have been wrong. It would be good to see Soco's share price head up again, with exciting plans for the future. For me, atm however, there is too much resting on this long delayed agreement.

I hope you have a good weekend and soon get the news you want.

[emptyend] 13/1/2017 16:27

Nothing missed then. There's nothing "wilful" about it. This is the SOCO board on which relevant items can be posted. Oil prices are plainly relevant.Nobody (least of all me!!!!) has argued that there are no interesting punts elsewhere .....or that SOCO is definitively superior to others. But it still suits me in terms of the risk mix and relative safety compared to most others in the sector - and I'm sure I'm not alone in that view. So why the personal attack?As for the substantive points, I'm expecting answers to them anytime soon. In the past that might have been referred to as "imminent". Generally people don't bale out of stocks where news may be both good and imminent, though of course there are no guarantees.And I'd add that Fidelity also have the choice of the whole sector and bought in the 140-165p range. But I guess they don't know what they're doing either? ;-)

[patdavey] 13/1/2017 14:31

Ed in fact said this:

"Emptyend.

Wilfully looking in the wrong direction?

Oil price?

For the oil price bulls, there are far better punts than Soco.

For those who don't want to lose money, why risk holding when a key event is on the horizon? There's no guarantee that holders will be happy with the TGT FFDP.

How many years till Soco's TGT licence expires? How much oil will still be recoverable at TGT when that happens? Why would the government agree to giving away now that which will be theirs for the waiting?"

[emptyend] 13/1/2017 13:38

Re extension, that is nothing to do with the partners - it is down to the Government.I've no idea what Ed has been saying, by the way, as he's still filtered.It isn't surprising that the market seems to feel there are better speculative homes for their cash, fh1, but that doesn't mean the market will be proven right. Certainly Fidelity seem to have taken the opposite view in 2016

[kenobi] 13/1/2017 13:01

I see nothing in the partners behaviour to soco that leads me to believe they will just give us an extension now, but I hope to be surprised. I'd settle for the fdp (finally) and another interim payment re mongolia,

also looking forward to expo news on the new blocks,

K