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
  -0.20p -0.17% 118.80p 116.40p 116.80p 123.40p 116.00p 123.40p 216,772 16:35:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 125.2 4.6 -4.5 - 394.36

Soco Share Discussion Threads

Showing 25051 to 25073 of 25075 messages
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DateSubjectAuthorDiscuss
20/1/2018
12:22
The SAVP situation was that they announced a deal with a party they couldn't name, for a deal they couldn't detail, and a funding requirement that couldn't be quantified. Accordingly there was no transparency whatsoever for buyers and sellers, hence the suspension.It is perfectly possible for SOCO to do a deal which provides complete transparency, so there would be no suspension in that case. But one can't be certain of the outcome, because who knows what type of deal will be done?
emptyend
20/1/2018
10:39
In terms of 'boring', would it not be the case that if an RTO were to go ahead, SIA may go into suspension? For some months, possibly, as happened recently with SAVP.
haideralifool
20/1/2018
01:26
Personally wish it wasn't so "boring". I have a lot of loss to claim back here so exciting and rewarding would be much better thank you. Perhaps SIA will catch-up with PMO and TLW, or even outperform (?), them one of these days! Must admit that SIA aren't doing to badly when compared to some others but if we hadn't had the Kuwait news we would no doubt be somewhere near BP's performance or even CNE's! Sector peer performance/comparison since the beginning of December: RDSB: 2397p to 2562p = +6.88% BP. 491p to 510p = +3.87% SIA: 105p to 116.5p = +11% TLW: 180p to 213p = +18.3% PMO: 69.5p to 91p = +30.93% CNE: 210p to 211p = +0.47%
lauders
19/1/2018
13:55
Fully agree - just thought I'd post something ;-)
nigelpm
19/1/2018
12:38
Boring is exactly what Soco should be doing... noun 1.Machinery. the act or process of making or enlarging a hole. the hole so made. 2.Geology. a cylindrical sample of earth strata obtained by boring a vertical hole. :-)
stepone68
19/1/2018
10:34
Almost back to where we were pre-Kuwait news - most boring!
nigelpm
11/1/2018
23:19
I agree with much of what is being said here. There are some important issues highlighted in the trading update, but I don’t believe anything has changed significantly. I have slightly contrarian view. I suspect it’s partially a case of new management wanting to make their mark by lowering expectations at the beginning. What better way to do it than by disposing of the non performing asset and buying into cheaper and better performing assets, KE or elsewhere. There is no real change in the assets being held by the company, just adjustments for compliance with accounting requirements. The forward guidance still has the possibility of exceeding 9000 booed. Which with new wells being drilled is a fairly high probability. As for the compressor issue, it’s so vague it could be anything, ranging from change in oil gas ratio, weight of gas or merely wear and tear. Almost in every case some form of investment is required but much of it can be done during production by addition of small booster compressors, control changes, supplementary driver etc. And it’s fairly straightforward stuff. With the oil price rising I’m still pretty bullish on the stock.
tyler19
11/1/2018
22:33
fh, You are right about the RNS issue. It is either too much or too little info and I'm not surprised at the lack of detail. It is definitely the gas lift not the export line.The good news is that I have reason to believe they are well aware of North Sea experience and so hope that will be helpful in designing the right remedial action.Thanks for the details!
emptyend
11/1/2018
19:25
Ask yourselves why OIL is now at the $ it is ? The answer is obvious Can anyone tell me what it is ? Soon it will return to market norms
buywell3
11/1/2018
19:22
The key point for me is that there is underlying capacity there to increase production once they get the compression issue sorted.....though of course it can't be quantified at present. It must also depend on which wells are onstream and what the water cut on those wells is. Optimising a system with 20-odd wells with different characteristics ..and trying to maximise both recovery AND production must be quite complex..... why would you suggest it can't be quantified ? if that's the case how did they justify the water handling facility ? I would have thought it would be fairly straightforward, surely they have a rough idea of the volume of liquids each well can produce to optimise recover and production ? that's your starting point, then it's surely just a case of seeing what water oil mix that would produce at the new water handling facility, and the mix and volume at the fpso ? IF there's a serious issue with the some kit on the fpso, which limits throughput, that is now the bottle neck, and they should jump on that and resolve that asap, otherwise the millions we've just spent on water handling facilities are producing nothing. It shouldn't be hard to convince partners to fix something that's malfunctioning and reducing throughput. I can't help but wonder if we've not just spent a lot of money on something that is no longer needed. (due to falling liquid volumes produced), if so, well that's just one of those things, it happens sometimes by the time you get the ducks in a row and implement something it's too late, and maybe it'll come into it's own later when we do drill more wells. Perhaps even that we've spent that money can encourage the drilling of more wells to use that capacity (although that sort of logic doesn't always seem to work, I recall fpso start up when they produced for months on end at half capacity with the oil price above $100, again, nothing we can do about that). But if that is the situation (and I only wonder because it wasn't clear from the recent update), I'd prefer they just said. but I guess we'll see how soon it's sorted out, and what difference it makes to production volumes then.
kenobi
11/1/2018
17:34
Are Peel Hunt being paid by Kuwait oil to keep the price lower?
cielos
11/1/2018
17:12
In the usual vein of FWIW, etc. and hoping it hasn't been posted previously-but Peel Hunt have downgraded from buy to hold and moved their target price from 145p to 130p 11 Jan 18 Peel Hunt Hold 122.00 145.00 130.00 Downgrades
cwa1
11/1/2018
12:15
Phew. I'm not in an echo chamber ;-)I read it as all still under evaluation, so I'd guess that if remedial action requires new kit then we could be talking about Q3. The details of the technicals are beyond my pay grade when it comes to this sort of thing but hopefully fh can illuminate.The key point for me is that there is underlying capacity there to increase production once they get the compression issue sorted.....though of course it can't be quantified at present. It must also depend on which wells are onstream and what the water cut on those wells is. Optimising a system with 20-odd wells with different characteristics ..and trying to maximise both recovery AND production must be quite complex.....
emptyend
11/1/2018
11:49
I didn't read the line about the non binding offers as suggesting for sure that parties other than ENI are interested. Couldn't it just mean separate offers from ENI for each of the positions? Not for me - but at this level of semantics you can't be sure ;-) I'd note that "offers" could mean more than two as well.
nigelpm
11/1/2018
11:40
presumably the compressor issue is top priority if that's the case ? is there a plan or time line of when this can be addressed that you know of ? If we're talking about potentially 1000's of barrels of oil per day, I'm sure this will be seen to asap even if it means a production shut down while the issue is resolved. Hopefully this means that we'll have a over delivery on the quoted figures when this is resolved. K
kenobi
11/1/2018
11:18
I'm not sure how many people read and understood this post from yesterday. But, since it is rather important for the 2018 production outlook, here it is again:[I'm confident that the leak will have come from the KE side. Look at the location of the person quoted in the initial report.The leak may have pushed the shares up a bit but the flipside is that they can't now get out and do a complete face-to-face round of briefings. That has some negatives.] For example, it is my understanding the unrelated and unfortunate compressor issues have effectively wiped out the potential production increase from the water-handling, and they are likely to be rectified as part of the 2018 work programme.......hence the point in the RNS about the 9,000 potentially being increased depending on the results of the work programme. I don't think that comes over from the RNS, as some naturally assumed that the upside potential was all drilling-dependent.
emptyend
10/1/2018
22:20
I didn't read the line about the non binding offers as suggesting for sure that parties other than ENI are interested. Couldn't it just mean separate offers from ENI for each of the positions? Anyway who knows? Time will tell.
pumph
10/1/2018
22:04
Good post fh. Why not contact Antony Maris for the details? I don't know which variety of issue it is.
emptyend
10/1/2018
19:18
The field (TGT) is gas lifted and water injected. It would be good to have more detail on the sub-optimal performance issue for the two compressors(Lack of gas/staging step up pressure vs gas lift valve settings, gas composition etc). It does sound however like it can be fixed unless its a fundamental issue (lack of gas or a poor system design wrt the reservoir). The reason it impacts production (for non oily people) is the water injection keeps the field pressure up (and sweep) but as the well's cut more water they will need individual gas lift to keep gross flow rates up. (a vertical water column is heavier than a oily /gassy column so the reservoir pressure has a harder job to do in lifting the fluid, so lower rates-hence the use of gas lift). There is usually a network model that keeps an eye on water injection , water offtake, individual well gas lift performance(ie depth of injection,rate of injection,water cut), to keep it all optimised -its normal practice. FH
flyinghorse1
10/1/2018
18:46
I agree with ee on the leak - this was the chap who reported on it: https://twitter.com/DBarbuscia
nigelpm
10/1/2018
18:23
I'm confident that the leak will have come from the KE side. Look at the location of the person quoted in the initial report.The leak may have pushed the shares up a bit but the flipside is that they can't now get out and do a complete face-to-face round of briefings. That has some negatives. For example, it is my understanding the unrelated and unfortunate compressor issues have effectively wiped out the potential production increase from the water-handling, and they are likely to be rectified as part of the 2018 work programme.......hence the point in the RNS about the 9,000 potentially being increased depending on the results of the work programme. I don't think that comes over from the RNS, as some naturally assumed that the upside potential was all drilling-dependent.
emptyend
10/1/2018
17:36
It's speculation, but the op update hasn't been too positively recieved, imagine if the KE info hadn't leaked ? and then there is the possibility that soco might be trying to either hurry up another party, or smoke out alternatives, does make you wonder where the leak might have come from, all speculation of course. K
kenobi
10/1/2018
16:18
Hi kenobi,I don't think there's much doubt that the African assets are worth more to ENI than some others and they certainly won't want to overpay. But neither will they want to develop their own assets inefficiently, nor pay a premium because oil prices have gone up again. Accordingly I think there will come a time in the next couple of years when a sensible deal can be done......but not any time soon, it seems.Re Malcy, Nigel, I suspect he'd be unwise to assume that just because talks have been leaked with KE that means a deal will get done. My own guess is that KE may well be second favourite in the race to set a new strategic direction for SOCO. But I don't think we'll have a very long wait to find out.
emptyend
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