Soco Share Discussion Threads

[richalert] 10/10/2018 07:56

Ed Storey gives a good interview. Always has. He was keen to emphasize the current dividends return at 6%, but failed to point out it was only at that level, at the expense to his long standing shareholders, of the loss of almost three quarters of their investment!!! That's if you invested in the good old days.

His comments on Vietnam are very important to the future of the share price. If Petro Vietnam can be persuaded to invest more, the increase in production should follow, and the effect on share value should be noticed.

Regarding Egypt, it is too early to say if this venture will successfully add value to the share. I personally am sceptical.

I am worried that it will cost as much to keep production at current levels, as returns from their share of sales, which as we know is roughly 30% back in costs and then 18% share on profits. There is no tax to pay on this though I understand.

What would be interesting to know is the average number of barrels of oil pumped from each well before capping off the well.

[nigelpm] 09/10/2018 22:57

Indeed - hoping the price stays in the 80's for as long as possible to be quite frank - it's an opportunity here.

[emptyend] 09/10/2018 22:42

Two comments on your comments:1. They've made the case to PV (yesterday) for why it is in PV's interests to accelerate drilling. They will find out in a month's time whether they agree and set an aggressive drilling budget for 2019.2. They have doubled production and reserves with the Merlon deal. They are planning to double again in two years.Dividend plainly to be preserved/increased.The proof of the pudding will be whether they can throw off cash from Merlon at the anticipated rate. No reason why they can't IMO.

[nigelpm] 09/10/2018 21:20

Also "There will be more to come" - RE: acquisitions - that's a strong statement.

[nigelpm] 09/10/2018 21:07

Great bit at 4:10 in the interview - talks about the Vietnamese delegation in London and "accelerate and drill more wells - change in the whole outlook"

Very significant IMHO.

[nigelpm] 09/10/2018 21:00

Malcy certainly pumps some junk but he also talks sense as well - his views on Hurricane and Ophir are probably on the right lines.

[dunderheed] 09/10/2018 10:23

Christ almighty amazing. How the 'mighty' have fallen.

[ohisay] 09/10/2018 10:15

If ya aint seen him before...

[yasrub] 09/10/2018 09:46

Ed Story doing an interview with Malcy today. Trying to get the company profile increased ?

[emptyend] 09/10/2018 07:58

I'd be very surprised if it wasn't RNS'd because the delay caused by the need to redrill changed production guidance and also led to analyst questions in relation to reserves.The last statement was in the interims:"modified to 7,000 - 7,400 BOEPD, reflecting the additional delays to the drilling programme resulting from the requirement to redrill the CNV-5P sidetrack".....and Ed Story had been very bullish about the well on the conference call because the drilling problems arose from a total loss of circulation. ....though whether they can intersect the same large fracture area on the redrill remains to be seen.

[richalert] 09/10/2018 06:54

Probably no need for RNS. If it's just keeping production on track as previous guidance. If it changes previous guidance then yes.

[emptyend] 08/10/2018 22:13

"TGT well drilled on time within budget, rig off contract preparations for perforating underway....."...was tweeted 8 days ago.Can't be long now, and I assume it would be RNS'd.

[emptyend] 08/10/2018 22:06

https://www.linkedin.com/pulse/soco-international-update-michael-crilly/

[seven7seven] 05/10/2018 13:28

Angolan assets have been sold and deal completed and put to bed. Soco can now concentrate on adding shareholder value with the Merlon Acquisition and Vietnam play.

[seven7seven] 05/10/2018 07:30

Genel faced a similar downtrend in 2016 with downgrade or sell off of assets and have recovered well of late.

[chopsy] 04/10/2018 22:17

S7S: Genel is also nearly debt free and throwing off huge free cash flow, and looking to expand in Somaliland where they have licences. M&A beckons.

[emptyend] 04/10/2018 20:45

Nice quote, 777, but unfortunately 18 months old.However, the original source is worth a read, as a number of elements still hold true.....https://www.offshore-mag.com/articles/print/volume-77/issue-3/asia-pacific/soco-helps-vietnam-sustain-oil-production-from-deep-lying-reservoirs.html

[seven7seven] 04/10/2018 19:03

I believe tomorrow is the day that the Angolan assets sale deal is closed.

[seven7seven] 04/10/2018 19:02

Unlike most other relatively small independent E&P companies SOCO is debt-free, and is now looking to expand elsewhere in Vietnam, the wider Asia region and North Africa, if suitable opportunities arise. "We think now is the right time to grow," Story said. "Having come off the period of highs and lows, the industry is now at an intermediate level where things can stabilize. We think there will be a lot of M&A activity over the months ahead, and we don't want to be left behind."

[emptyend] 04/10/2018 15:54

No. Those numbers aren't right. The production guidance given on 2/2/17 for the whole of 2017 was 8,000-9,000 boepd. The guidance given currently (7,000-7,400) is only 12.5% lower.....and yet netbacks at current prices are close to double those in Feb 2017 whilst the share price has nearly halved.Simply wrong.

[nigelpm] 04/10/2018 09:45

Yup. That has absolutely weighed on the price.

[stepone68] 04/10/2018 09:29

Feb 2017 production guidance was for 10,000-11,500 bopd. Now 7,000-7,400. Plus Vietnam licenses now 18 months shorter.