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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Soco International Plc | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 61.80 | 61.90 | 62.40 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
27/9/2018 07:40 | Couple of small director purchases and an EBT one:- | cwa1 | |
26/9/2018 22:58 | Many thanks for replies. | redhill9 | |
26/9/2018 21:48 | nigel/kenobi, Re the "1500bopd" from the compressor remediation it was from my AGM notes - and it was a net number. I'd say it is a bit of a "finger in the air" number - but nevertheless I think it is a potential 4 figure upside.....though of course they have yet to get round to doing it - and it has to be successful.rgdsee | emptyend | |
26/9/2018 21:40 | nigelpm - thanks for sharing the information you received. | happy_plums | |
26/9/2018 21:39 | I'd take 2023 with a bucket of salt. The outcome of 125/6 drilling may have a bearing in my view. However, they do have a contractual right to an extension (IIRC) so, in that context, why wouldn't they leave it late to exercise an option? | emptyend | |
26/9/2018 20:33 | Redhill, I doubt that they'd get anyone at the other end prepared to start serious discussions about an extension this far ahead. And I expect the first extension is seen as pretty much a given anyway (with no doubt some discussion of terms) Peter | greyingsurfer | |
26/9/2018 19:21 | I wouldn't get hung up on that year and I don't think it precludes anytime earlier - just that it's usual to enter discussions a couple of years in advance - seems right to me - I know whenever I've been involved in major contractual discussions in other areas 1-2 years in advance is quite common. | nigelpm | |
26/9/2018 19:03 | nigelpm, I add my thanks for your discussion with Soco - it seems to have been a worthwhile effort! I'm a little surprised no-one appears to have commented on your point regarding the license extension that "they'd be looking to start extension discussions around 2023....". Doesn't that sound rather late to start negotiations on something that has such a potential impact on the sp? Maybe Soco's hands are tied and they can only negotiate when the other party are ready, but surely the market will assume "no extension until it happens" (however likely an extension may appear), and the share price will be hit accordingly? | redhill9 | |
26/9/2018 17:45 | you mentioned the compressor, did they say when that would be addressed and what they thought the upside was, I think someone (ee?) quoted possible 1500 per day upside, I'm assuming that's gross ? See earlier comment RE: budget setting for next year. They weren't willing to put numbers on it at this stage. | nigelpm | |
26/9/2018 17:44 | Or did they just mean 'don't expect a reserves upgrade in the near future'? Exactly! | nigelpm | |
26/9/2018 17:03 | Yes, understand all that. That's why I asked the question, because I was confused about apparently conflicting statements. If they are saying 'no reserves upgrade', it says to me they are expecting no production increase (as the latest presentation implied) and no license extension. Or did they just mean 'don't expect a reserves upgrade in the near future'? | stepone68 | |
26/9/2018 17:02 | Thanks nigel, very helpful, you mentioned the compressor, did they say when that would be addressed and what they thought the upside was, I think someone (ee?) quoted possible 1500 per day upside, I'm assuming that's gross ? K | kenobi | |
26/9/2018 16:38 | Precisely ee - summed up my understanding there in a nutshell but more eloquently worded. | nigelpm | |
26/9/2018 16:26 | On the reserves point, auditors can only deal with the facts as on the ground at the time of their audit.....so will only look at actual production rates, presently assessed oil in place, existing reservoir performance etc, actual current length of licence etc.So if there is an extension, better production rates, more wells drilled etc etc then there is the potential for resources to move from 2C to 2P. But until any work is completed successfully, there can be no increase. Anticipation of events doesn't count (except firmly-budgeted, near-term work with highly predictable outcomes) | emptyend | |
26/9/2018 16:17 | No reserves increase even if they get the extension (can't remember if the reserves numbers were based on 5 year extension or not)? They wouldn't be drawn on that however clearly if they got to 2023 and reserves were only looking at 2 years and then an extension comes there would surely be an upgrade. One point I hadn't mentioned when I thanked them for talking to a private investor they were very clear that they regard all investors as equals - that impressed me. nice touch. | nigelpm | |
26/9/2018 16:10 | Thanks Nigel....especially for the Santos comparison. That was certainly my impression | emptyend | |
26/9/2018 16:08 | No reserves increase even if they get the extension (can't remember if the reserves numbers were based on 5 year extension or not)? | stepone68 | |
26/9/2018 15:44 | A few other bits (although my interpretation so comes with a health warning) from my notes: Not resting on laurels with further deals - actively looking in North Africa, ME and SE Asia. I made the hands full point with Merlon but got batted back a bit. Discussion on budgets for Vietnam next week with PV directors in London - compressor issues and capex to be debated Were part of bidding process for Santos as ee had mentioned but felt Egyptian assets were longer life and had much greater explo potential. Hopeful with oil at $80 that PV will come to the table a bit more. Unlikely to be any TGT reserves reclassification upside. | nigelpm | |
26/9/2018 15:17 | Many thanks, Nigel Peter | greyingsurfer | |
26/9/2018 15:12 | Nigel You have been adding to the dips for years. At what point do you get rewarded for your investment?Just asking. | invisage | |
26/9/2018 14:43 | Fascinating chat with Soco this morning. Nothing earth shattering but came away with the view that everything is falling into place quite nicely and the share price should do the talking over the next 12 months. Just on the Vietnam license extension - they'd be looking to start extension discussions around 2023 and as things stand (obviously hard to predict what will happen in 5 years) their expectation is another 5 years to 2030. I tucked some more away just now and might keep doing so if the 80's remain. Oh and on the Merlon net production clarification - they are going to put a worked example on the website shortly to hopefully provide some more clarity. | nigelpm | |
26/9/2018 14:10 | More background on Sovico here. Inter alia they own a couple of the highest end hotels in Nha Trang, adjacent to block 125http://vneconomic | emptyend | |
26/9/2018 13:38 | the partner in 125/126 is sovico holdings, they own the 30% the boss is Nguyen Thanh Hung I'm assuming it's him, although all I've heard is storys at the AGM. Owns an airline, wanted to get into oil expo for some reason, always good to have locals on your side if you want to get things done. memorandum of understanding signed when david cameron visited, since been finalised hxxps://www.socointe | kenobi | |
26/9/2018 13:02 | See RNS at end of October last year. Bit more background given at the AGM, but nothing substantive. | emptyend |
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