Soco Share Discussion Threads

[dunderheed] 20/7/2018 16:53

EBB I was of course speaking about the 'dream team' who have been often quoted as such on here, at least, as being the people to find a deal?!
Do you not read all the posts on here, man?!

[eggbaconandbubble] 20/7/2018 16:50

Dunderheed, 'Get their feet under their desks.......'!!!

3 of the 4 executive directors have been with the company since, respectively 1997, 1999 and 2009. That's closer to 15 years!

[tournesol] 20/7/2018 16:17

Not at all sure that autonomous vehicles will reduce fuel consumption. It is, for example, entirely possible that they will result in a reduction in average passengers per car. Currently three or four members of my family will organise themselves to share a car to get to the station in the morning. It is possible that a truly autonomous vehicle might be used to increase travel independence by having the household car shuttle backwards and forwards several times at whatever time best suits the individual passenger thereby increasing total mileage; or it might be used to address the parking problem by sending it back home instead of parking at the station - that alone would double the daily mileage.

If vehicles become totally autonomous they will quite possibly encourage much more use by people who can't/won't drive - resulting in an increased total mileage and hence increased fuel consumption.

[stepone68] 20/7/2018 10:08

He does say "Autonomous electric vehicles...". And, with tongue in cheek, autonomous vehicles in general should be more fuel efficient, unless they are planning on creating robot boy-racers..!

[tournesol] 19/7/2018 22:46

Why are they conflating the introduction of self driving cars with the switch from hydrocarbon to electric. Surely these are 2 separate and independent developments?

Self driving technology per se makes no difference to oil consumption

Electric powered vehicles do make a difference of course but that's not dependent on self driving technology.

[dunderheed] 19/7/2018 18:47

That would be a very incorrect impression.
I believe they need to get their feet under their desks etc first and after all they have only been there (what?) 1.5 years now, so give them a bit of slack please ebb and come back in (what?) about 8 years?
Thank you for your patience.

[eggbaconandbubble] 19/7/2018 17:38

Do I get the impression here that management are trying to do a deal but just like their inability to run a company neither can they put the deals together???

[buywell3] 17/7/2018 15:23

100p for SIA now a big ask it would seem chartwise

[fangorn2] 16/7/2018 19:03

Peak oil demand seen in fewer than 20 years, Wood Mackenzie forecasts

Global oil demand will peak at around 2036, says oil consultancy Wood Mackenzie, an earlier date than many energy majors use in their scenario planning.

Wood Mackenzie’s long-term energy outlook, which was given to clients in May but not yet reported, comes as some of the world’s oil majors have begun to prepare for a future when oil demand is no longer steadily rising while others have been more hesitant, chiefly Exxon Mobil (XOM -1%) and giant state-owned oil companies such as Saudi Aramco, which have resisted the notion that demand for their primary fossil fuel products could stop growing within 20 years.

“Autonomous electric vehicles or robo-taxis will really change the face of transport in the coming decades,” says Ed Rawl, Wood Mackenzie’s head of crude oil research. “We presume they become commercial by 2030 and widely accepted by 2035... They will be on the road far more as they are autonomous, displacing a disproportionate amount of oil-based transport."

But seeing peak oil demand on the distant horizon does not mean lower prices in the short term, Rawl says, as growing U.S. supply should turn the U.S. into by far the biggest oil producer by the middle of the next decade but output from other countries outside OPEC likely will slow by ~2023.

[robs12] 12/7/2018 09:48

Hmm, does appear that the spike after the news yesterday has already fallen back - looks like a rush to the nearest exit..
Shame, seemed a good deal on the face of it. Anyway, OT so move on!

[dunderheed] 12/7/2018 07:19

It was a nice deal in the circumstances that the 'mgt' had 'managed' to get themselves into.
I think you'll find the majority of (smaller) aex'ers were extremely disappointed. I'm personally not because I had a more realistic value for industry assets however had an asset swap of 37.5% for that monetary 'value' equivalent.
I would expect a different and significantly 'better' deal from the SIA 'mgt'.
All imho and dyor of course.
21400 reserved for Saul Goodman.

[robs12] 11/7/2018 13:03

Nice deal over at AEX today - congrats to all the shareholders there ;-)

Let's hope Soco can soon pull something together that's similarly transformational!

[riot2] 10/7/2018 13:12

Sia looks and interesting investment once again.

Throwing offloads of cash at these prices.

What $3m a week?

[buywell3] 09/7/2018 11:22

What's next to sell to raise cash ?

[kenobi] 04/7/2018 11:01

Pretty decent set of broker reccomendations, even the neutral rec has a price target of 120, I wonder if they're factoring much in for deals in the future ?

hxxp://www.thetimesmoney.org/soco-international-analysts-weekly-ratings-changes

[emptyend] 02/7/2018 18:32

Been on a plane for the last 6 hours.....arriving back for a bit of heat.I notice that some allege there were "questions" to be answered. There don't seem to be. There is a list of stats and comments covering the last 6 years, alleging a trend. But "mysteriously" (ha ha!) there is no mention of the collapse in oil prices from $110 to under $30 in 2014/15 (in the middle of the supposed "trend") and the consequent impact on the earnings, production and share prices of all oil companies.Neither is there any mention of the fact that SOCO have returned 90% of the current value of the company to shareholders over the same period......so of course the share price is close to £1 lower, compared to most of the companies in the sector which have have paid absolutely nothing back to shareholders. Simply spurious twaddle to pretend otherwise.Of course we are now very much at the point when action is rightly being demanded - and those who attended the AGM will know I was making as many points along those lines as anyone. And it is one thing to tidy up the African assets, but another to produce a transformative deal that offers good growth/development opportunities.Anyway we do seem to have established that those who are hanging around here, making negative comments, are actually pondering an entry or an increase...........which tells you all you need to know, really. :-)

[dunderheed] 02/7/2018 16:38

Really lol how 'ironic'!!

[robs12] 02/7/2018 16:35

I think we've ascertained that I'm a serial imbecile and I'm on EE's ignore list... so not expecting a response! ;-)

[dunderheed] 02/7/2018 16:20

robs12 can you please keep those drivel posts OFF THIS THREAD?

Now Nigey and EE will have to present a robust challenge to all of your points as promised by Nigey.

I await with bated breath.

Then we can get back to discussing real issues about sia relative performance.

[robs12] 02/7/2018 16:14

Back in 2012, the previous Cabinda 'sale' announcement stated:

"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."

Soco owned 80% of Soco Cabinda, so I think that makes ~ $26m net assets to Soco. Now sold for $5m.

That statement from 2012 reminded me just how long ago it was ( :-(( !) and just how far the company (and shareholders) have come in that time in terms of:

1) Production

2) SP

3) Growth

So...starting with 1) production - avg BOEPD:


2013 - 16,694
2014 - 13,605
2015 - 11,976
2016 - 9,883
2017 - 8,276
2018 - ?? Guidance 8-9,000...

Can we see a trend anyone?

2) share price - from a £4.75 high in Jan 2014 (we won't go back as far as 2007...) to 95p now. Trend spotting anyone?

3) Growth - a few tempting snippets from the annual results each year:

2012 - "Several new ventures are expected to be added to the portfolio over the next 12 months"

2013 - "the Company looks forward to sustaining value creation in 2014 and beyond."

2014 - "We remain value driven, see the current environment as an opportunity to plan for future growth and believe SOCO is well positioned to continue to execute its strategy."

2015 - "we are in a good position to take advantage of the opportunities available to build for the future. We are focusing on synergistic acquisition situations offering complementary cash generative strength as well as exploration opportunities providing future drilling optionality."

2016 - "we are seeing a window of opportunity which we intend to take advantage of in order to grow the portfolio and create more value for shareholders."

2017 - "We have the right people and the right financial strength to create opportunities to grow the business and we look forward to delivering in 2018”.

Spot a trend there? ;-)


Hmm...that's 6 years of no deals (other than writing off $150m [and this would have been $220m if not for a change of accounting policies] and now effectively giving away the African 'assets'), having the right people (average salary cost of ~ $700,000 each for 19 of them remember...), and not growing the business...despite having that printed on the tin...again...and again... and again....

I take very little comfort that they have spent 3-4 years 'considering' succession options...or years staring out of 'windows of opportunity'...or years 'planning' for growth...

Really...why is it only today that they complete a transaction that they stated was in the shareholder's best interests back in 2012..?!

Time for a bit more 'doing' IMHO.

Having said that, the dividend is nice (but not as nice as that from others, it has to be said, though it is getting better as the share price continues to plummet), and they do have some cash...

p.s. nige & EE, I'll make my own investment decisions thanks, no need for you to tell me when to buy or sell! ;-)

[dunderheed] 02/7/2018 11:52

What like your so obvious (drivel) trade at 118p or thereabouts Nige? (That I'll bet somehow you've traded out of now and are so many quids in)
I'll get me coat.

[nigelpm] 02/7/2018 11:21

Feel free to continue to post as much drivel as you like but also be assured you will be challenged on it.