Soco Share Discussion Threads

[nigelpm] 05/3/2018 17:51

Interesting tweet :

"Soco International jumped to 95p after saying it had ending merger discussion with Kuwait Energy after failing to agree key terms. The proposed merger had seen some opposition from UK institutional holders"

[nigelpm] 05/3/2018 17:44

Far too much focus here on what has gone and past - need to look forward chaps.

You don't make money based on history.

[buywell3] 05/3/2018 17:23

A damp squib then

Maybe tomorrow

[ohisay] 05/3/2018 16:54

I guess I should move into pooled funds and just accept what happens

Dont do that Ed - I for one would miss your views ...

[ed 123] 05/3/2018 16:46

(Apols, wandering a bit off-topic.)

Ta, Stepone68.

Are you offering an 'alcoholic' a safe drink? ;-)

I can't grumble. The stock market has been good to me overall. I haven't had to work in a proper job for many years. My problem is that in order to get good results I have to put in the time; I am beginning to begrudge that time cost.

I guess I should move into pooled funds and just accept what happens.

Well, it's turned 4:35pm and I can rise from my seat. ;-/

Hi Dunderheed.

Ta and I'd give you an uptick but I'm not permitted. I did wonder but steered safe. Good to see some humour around. This board has been a bit fractious at times.

'Evening, all.

[dunderheed] 05/3/2018 16:33

Ed yes stepone was totally correct. Thanks stepone for 'educating' !!
Lol! How could anyone think that message was serious!!
You've made my night matey!

[stepone68] 05/3/2018 16:32

Ed, for the addictive stuff I have a spread betting account with a few hundred quid in it. Gives you the satisfaction of a short term trade going well with committing loads of capital to it, and without stamp duty/commission, although the spread can be a pain.

[ed 123] 05/3/2018 16:11

Ooops, have I missed your humour, Dunderheed? Sorry.

Stepone68.

Quick exit? Not a single reason. I have been investing for over 30 years and these days I am more interested in preserving what I have made. In short, my appetite for risk has diminished. The share price was heading back down, there was no certainty of a deal and I didn't want to risk holding at a paper loss.

You may have noticed I've demoted myself from a being a 'blue' poster? Also, I am posting less than I used to. That's part of me winding down too.

This game is a bit addictive, though. Maybe I should start a board for folk wanting to wean themselves off?

[stepone68] 05/3/2018 15:59

Ed, I think D is humorously posting in the style that he perceives EE to have responded to him earlier, if that makes sense. :-)

Also, just a quick question, if you got in recently , why exit at breakeven? Has anything changed since your purchase, except that Kuwait deal was a possibility, and then not?

StepOne

[ed 123] 05/3/2018 15:54

Hi Dunderheed.

Apologies if I have upset you. I have re-read my post and can see nothing wrong with it. Is there anything in there specifically that you don't like?

Btw, I am not angry at all. Nothing to be angry about. Not de-ramping either - I am just a private investor, and one (as far as I am aware) who has no influence in the market for Soco shares.

[dunderheed] 05/3/2018 15:48

Ed123 can you not post on here please unless you are a holder?
I can see no other (t)reason than you posting, as being a de ramper or an angry previous holder that didn't sell at the right time.
There may however be an option to post on here, if you can provide details of all your e&p work experience to date although that reasoning will be subject to 'real' holders whims.
Thanks very much.

[dunderheed] 05/3/2018 15:40

Ah Nigel, ok sorry!!
Bloody hell I'm seeing conspiracy theories (that don't exist) now lol!!

[ed 123] 05/3/2018 15:39

Yes, good post from Eggs.

Hi Nigelpm.

Re: post 20694, future potential? That is exactly why Soco's share price has gone down from Feb 2016 to today, while the oil price has doubled. Future potential is also, imho, likely to be behind the failure to agree with Kuwait Energy. For those who are willing to open their eyes, Soco has a limited licence duration and TGT output (unless they come up with something) is plateauing at around half of its highest flow rate.

If Soco's management really believed they could significantly increase the output of TGT, why wouldn't they wait until they'd achieved that and then get into negotiations about potential mergers from a stronger position? In a merger Soco will get credit for what it has, not what it hopes to get in the future. The fact that they are fishing now for a merger would not fill me with confidence.

For me, the best option for Soco remains a merger with Ophir. The former has surplus cashflow but no new developments; whereas the latter has a big development project (Fortuna) but it wasted valuable cash on buybacks and now needs to borrow. They know each other from their Bualuang days.

And Emptyend reaction to today's news? Entirely predictable. I don't doubt his integrity but I do doubt his recent ability to call Soco correctly. Anyone who follows him with their own cash ....... well, there have been enough warnings on this board.

And as for me? I had bought back into Soco, was very pleased with the original Kuwait announcement, held too long but exited about break-even. Also, had bought into Ophir not so long ago. Similar story, watched it go up but held on too long. Sold most, again about break-even. Still holding a few Ophir (now under water) but with no great expectation of making money.

Oh, and before anyone asks, I'm following here and Ophir (and many others) because I have some familiarity with them and there may be a chance to make money at some point.

As ever, good luck to all.

[nigelpm] 05/3/2018 15:37

Nigel it wasnt(sic) me who was talking about previous share prices. It was EE lol!

I'm sure - I wasn't replying to you - hence why I italicised the poster (loglorry) whom I was replying to!

[dunderheed] 05/3/2018 15:12

Eggs completely agree matey.
Nigel it wasnt me who was talking about previous share prices. It was EE lol!

[nigelpm] 05/3/2018 14:05

Ee you have to admit the share price has the last say. You've been banging on for about a decade about how undervalued Soco is and the share price just drifts down. There has been nothing but shareholder value destruction for years here.

The smart money left years ago.

All fair enough but future potential is more relevant than past performance.

Albeit I accept past performance has been atrocious for various reasons.

[dunderheed] 05/3/2018 11:04

Absolutely ll1 lol.
EE is off for the day now, unable to answer a really simple question which is a little ironic as he was the one who was making a point about it!
But don't listen to me guys (and gals) because I'm so so angry.

[buywell3] 05/3/2018 11:02

So will this be a paper (shares) for OIL merger

[dunderheed] 05/3/2018 10:59

It's a simple question EE please have the manners to answer, as you were making a point about working in e&p?

[emptyend] 05/3/2018 10:59

....I always regard "I'm not f'ing angry at all matey" as the sort of response that indicates the exact opposite. :-)cheerio for today, folks.

[loglorry1] 05/3/2018 10:58

Ee you have to admit the share price has the last say. You've been banging on for about a decade about how undervalued Soco is and the share price just drifts down. There has been nothing but shareholder value destruction for years here.

The smart money left years ago.

[dunderheed] 05/3/2018 10:46

So EE please elucidate how many years have you worked in e&p excepting that armpit aex of course, lol?