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
  +0.00p +0.00% 118.75p 118.00p 119.00p 120.00p 118.00p 119.75p 61,863 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 125.2 4.6 -4.5 - 394.20

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Date Time Title Posts
21/9/201716:24SOCO - The Endgame19,861
18/7/201709:26SOCO INTERNATIONAL - Stifled Development151
17/3/201123:19Libya news23
17/3/201123:16Vietnam Is Important But so is Libya25
06/8/201012:46Why the 75% fall ??11

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Soco Daily Update: Soco International is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SIA. The last closing price for Soco was 118.75p.
Soco International has a 4 week average price of 111.75p and a 12 week average price of 111.50p.
The 1 year high share price is 162p while the 1 year low share price is currently 111.25p.
There are currently 331,954,643 shares in issue and the average daily traded volume is 225,365 shares. The market capitalisation of Soco International is £394,196,138.56.
lauders: At least the share price isn't going down before the end of the day. Perhaps the 13th will be a fortuitous and defy the superstition ;-) Here's hoping for some positive news from SIA for a change. GLA!
kenobi: lets hope that the price continues to drift up and give a share price that works for doing deals with paper. Various options were suggested at the AGM, specifically giving paper to buy assets in a company that was unable to get a listing. Of course this doesn't work if the share price materially undervalues the company, because either you end up giving too much away, or they have to accept their assets be materially undervalued too. K
ed 123: Emptyend's "Endgame" for Soco is 10 years old now. How many times has he said Soco is so undervalued that bid is possible? I've lost count. Looking back over those 10 years, the share price is at or very close to its low point. From January 2016 to now, the oil price has recovered from $28 to $48/bbl, whereas Soco's share price has gone from 121p to 114p. What does that say? Fwiw, I think it'll dip under 100p at some point. Sector sentiment is poor and company performance has been poor.
emptyend: Yes Lauders - it is considered to be boring and the market has lost interest.Those who attended the AGM will know that for the last two years the company has been hamstrung by the oil price fall and by its impact on squeezing partner capex budgets. That is undeniable - and, had anyone seen it coming, they would have sold out. A few did sell out after the 2015 reserves hit - and that has proven right so far, as the share price has dropped another 30%.But I note that, in the last month or so, the price fall in SIA has been more than all of its peers.....even the grossly indebted like TLW and PMO. Indeed the fall has been 3-4x as large as the fall in CNE and OPH.......and that simply doesn't seem right, because not only is it unjustified by present fundamentals it is also unjustified by the recent and explicit focus on growth.So....certainly boring if viewed through the rear view mirror - but IMO the market has it wrong in expecting that to continue (but even if it did - and oil fell to $30 - I would still much prefer to have SIA than PMO or TLW. I see the shares as at least 20% undervalued now versus the peer group.....
emptyend: at "the big picture" as we are being encouraged to do, this page gives the Brent oil price in GBP terms (because SIA is priced in GBP): the oil price spent most of 2016 lower or much lower than it is now in GBP terms. In contrast SIA shares were significantly higher.Is there a logical reason for the shares being substantially lower now, given that production capacity is on the cusp of being materially enhanced by the water-handling addition? No there isn't.Of course, sentiment pays no attention to such things - and sentiment across the oil sector is poor (and seems not to discriminate between cash rich companies and those which have balance sheets leveraged with USD debt) - but those sat on the sidelines would be best advised to look at the numbers first and consider the forward comparison with others in the sector......and those holders who are concerned about an unexplained fall in the share price should look at the numbers before they rush to act as they are being encouraged to.....
ed 123: They have made multiple attempts at growing the company, through the licences they bought and the work they did in Africa. Sadly, so far nothing as yet commercial, just write downs of expenditures. The dividends were part of a blended approach, some new adventures and some return to shareholders. As things turned out, shareholders would have been better off if they had not tried to grow in Africa and had paid out bigger dividends instead. Dividends versus exploration, it's all about attitude to risk. Anyway the past cannot be re-run. What of the future? With mature production and no (atm) exploration, unless there's some big jump in the oil price, Soco's share price is likely to continue fairly flat. Today's update has been greeted with low volume and a small dip in the share price. The market reaction for me confirms that, sadly for holders, there's nothing here to excite.
emptyend: Not quite right, richalert. The FFDP has only actually been finally agreed with PV towards the end of 2016. It has been quite close for longer, of course, but the issue (I suspect) has been where the relationship between the oil price and the PV budgetary cycle (a year ago oil prices, share prices and activity were still going down). PV set their budgets annually and there is little flexibility for a formal agreement to vary it in between times!What is expected,YASRUB, is an agreed forward work programme that will enable production to be raised. More particularly, it should (nb should) enable some of the reserves reclassification of 2014 (the one that trashed the share price) to be reversed. Remember that the reserves hit occurred largely because the was no forward commitment to drilling.....there was no reduction in the total volume of OOIP - just a reduction in the expected ability to extract it.I'd also like to hope that (reflecting the price-induced haitus that wasn't the fault of SIA....or PTTEP, really) there may also be a licence it is worth recalling that the share price prior to the Feb 2014 reclassification was around 250p (albeit with a slightly different set of expectations about future oil prices)
emptyend: kenobi,As we discussed if you believe that the worst is over now theres an arguement for moving some funds to shares which will move more as the oil price rises.It isn't a risk free option, but potentially more rewarding if things go that way.Yes - I've been tempted by TLW on a couple of occasions at 10-12p below the SIA share price. Then again, it has hit a 90p premium between those occasions and promptly reversed.For me th biggest risk in soco is that the licences, and to a lesser extent the oil, in vietnam is running out. We have partners with little appetite to expand production even at oil prices north of twice the current price. So how do we value SOCO ? are we just going to concentrate on Vietnamese producion and take divis ? if so what might that be worth over the next x years until the licences expire ? We've been over this ground many times. A number of assumptions are embedded in your comments. I am mystified as to why you hold the shares if you believe what you write, since you hypothesise a utility which has no upside, several sources of downside and no options.
norman115: It is small comfort to see that so far today the SIA share price is down by a smaller percentage than any of Cairn, Ophir, Premier or Tullow.
emptyend: I'm always amused by those who pretend that SIA share price performance is purely stock-specific, whilst simultaneously overlooking "minor" matters like a halving of the oil price. Presumably they assume everyone is just stupid.The fact is that over the last five years the SIA share price is down 55% - BUT that is an outperformance over the peer group shares such as PMO, TLW and CNE. And that is before adjusting for distributions to shareholders which have been substantially greater in SIA's case than the others - totalling 72p/share.Of course the recent share price fall has been very disappointing - but its roots are clearly in the oil price fall, without which plans for VN would have been further advanced and more easily agreed.
Soco share price data is direct from the London Stock Exchange
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