Soco Share Discussion Threads

[emptyend] 02/7/2018 09:58

....oh...is that what they're on about. Rather tedious broken records. Yes it REALLY is that simple - if you don't believe management is up to the job, you sell the shares. Period. End of. No whingeing drivel etc.I take some comfort from the fact that the people who appointed the management own around half the shares. And they spent at least 3-4 years considering the succession options. None of that is a guarantee of course.....but "keyboard managers" are literally ten a penny.

[nigelpm] 02/7/2018 09:49

eck's now cleared for the real and upcoming humdinger deal. I await with bated breath..

Sell out if you don't believe management. No point hanging on to dead wood. Same goes for the scores of other posters who don't believe management.

[robs12] 02/7/2018 09:41

Well, at least the 'dream team' got the job done...

Despite the disposal being in the shareholder's best interests back in 2012, it seems the 'old' directors couldn't actually get it done for 6 years..... ;-)

Deck's now cleared for the real and upcoming humdinger deal. I await with bated breath..

[dunderheed] 02/7/2018 08:46

21380 how very very dare you?
This is the result of the BD dream team EE has so much confidence in.
Now after a (very) 'short time' (since joining soco) 'getting to know the assets' the fantastic results are starting to show.
All imho and dyor all.

[jimarilo] 02/7/2018 08:39

Sounds like they may not be finished with Africa, having said they divested from their "current" African interests

[jotoha2] 02/7/2018 08:34

No wonder the share price has tanked to this low level , giving away assets is clearly only something the very astute do .

[emptyend] 02/7/2018 08:10

So....Quill buy Cabinda. Cabinda was originally in the books at $30mn......but even at the top of the market was unlikely to sell for more than $15-20mn (Quill were always the likely buyer).

[robs12] 02/7/2018 08:10

Just a reminder of what they had to say when they tried to sell Cabinda back in 2012 (to the same company, Quill, buying it now):

"SOCO Cabinda had gross assets of US$32.5 million as at 30 June 2012.
The Group has no reserves attributable to its interests in SOCO Cabinda.
The Directors believe that the Disposal is in the best interests of the Company’s shareholders as the Group continues to re-focus the portfolio on higher impact projects in which it holds larger participating interests."

[dunderheed] 02/7/2018 08:08

Another humdinger of a deal.

[nigelpm] 01/7/2018 18:54

Good article by Gary Newman - found myself nodding with everything:

hxxps://www.shareprophets.com/views/36906/the-market-will-eventually-wake-up-to-the-true-value-of-soco-international-buy (needs free sub)

At the end of May it had $150 million in the bank, and although it is anticipating spending around $40 million on capex this year, profit from its operations will be on the increase as long as oil stays in the current range, especially given that it typically receives a premium to Brent for its oil.

So, whilst we aren’t going to see any sudden big rises in production at the moment, the company will perform very well as it currently stands and looks cheap at a valuation of around £330 million.

Not only do I see plenty of potential for a share price rise from here, but ithe shares also pay an attractive dividend yield, currently equating to in the region of 5%.

So if you’re looking for an undervalued oil company in the current bull market, then this is definitely one to add to your list at the current share price.

[nigelpm] 30/6/2018 21:32

All the Congo excitement seems to have meant that no-one spotted the first Director buy in some time not part of the shareplan:


The Company was today notified that on 27 June 2018, John Martin, a Non-Executive Director of the Company, bought 30,000 SOCO International plc ordinary shares of GBP0.05 each ("Shares") at a purchase price of GBP0.973 per share. The Shares were purchased on the open market.

[robs12] 30/6/2018 17:57

surfer - indeed!
Maybe someone at the beeb holds a grudge - bought some shares a few years ago and lost a packet..otherwise why mention it, it's a few years ago now since it was relinquished..

[emptyend] 30/6/2018 15:22

Eni has Saipem semi-sub Scarabeo 7 drilling in Block 120 ..... will finish the exploration well in early July.....the well is understood to be targeting a large oil prospect in a block where about 575 square kilometres of 3D seismic data has been was acquired.....first exploration probe since Eni drilled Ca Ngu-1 in 2013......perhaps worth watching, as it is oil in the same basin as 125/6?

[robs12] 30/6/2018 10:20

BBC mention again:



All publicity is good publicity...? ;-)

At least they do state that the licence is lapsed...

[dunderheed] 28/6/2018 10:46

Because I've only just caught up on this thread.
It is EE that insists on posting such personal remarks that certainly are not called for, no excuse.

[kirkie001] 28/6/2018 09:12

Dunderheed - I don't think he is?
You're the one who's taken the choice to make the first post in two days a personal comment about someone, rather than anything substantive?

[dunderheed] 28/6/2018 08:23

Who on earth is EE referring to as imbecile now on here?
Honestly what an example of irony and what a rude man lol.
There are none so blind than those who do not see lol!!

[richalert] 26/6/2018 21:18

OK. Back to discussion of shares being unloaded. Would love to know who.

[nigelpm] 26/6/2018 19:51

Have a read through the last few pages of posts.

[richalert] 26/6/2018 19:48

Nigelpm. I don't understand your last comment regarding seller.

[nigelpm] 26/6/2018 14:59

Will be interesting to see if the seller comes back again.

[kenobi] 26/6/2018 14:27

yes indeed ee, the problem SOCO had was that they announced they were not going to develop there any further so ENI might well have been betting that they would give up and go home, once there's production there, they might well find that working together is better than not.

[emptyend] 26/6/2018 14:18

YASRUB - entirely reasonable and accurate points. The key question is how fast progress can be made.Re ENI they may well become more amenable if a few production wells are put down adjacent to their acreage.