Soco Share Discussion Threads

[cwa1] 15/1/2019 08:48

FWIW:

Jefferies International has downgraded SOCO International to Hold with a price target of 74.00p

[alamaison5] 14/1/2019 15:34

We have a buyer, that's for sure! 75p to break for the moon, lol
Big UT later?

[emptyend] 14/1/2019 09:31

Interesting "news" from PMO this morning. Wheels within wheels, against the backdrop of OPHR and FPM? ......

[emptyend] 11/1/2019 20:56

Yes.......but I doubt we'll see much happening on that until Q3. It'll stay quite tight till then, with prices determined on low volumes. Unless, of course, there is some further corporate deal in prospect.

[0rient] 11/1/2019 18:29

Cheers emptyend for the update 👍🏻

You any thoughts on how they plan to increase trading volume & further institutional investment going forward?

[emptyend] 11/1/2019 18:05

One or two thoughts, following enquiries:The CNV-5PST3 well is apparently still cleaning-up, which suggests they must have lost very large volumes of seawater (not mud, incidentally) into the formation. That suggests to me that it is connected into a significant fracture system, which might be quite helpful for production and therefore (perhaps) reserves. No numbers yet though.They have plainly pinned-down the cause of the root cause of the production/compressor issues to production from a tied-in well on the adjacent block - but have yet to agree the new TIA which will "permanently" eliminate this source of production disruption. Once done, then compressor upgrades will improve production rates further. No idea of the quantums here either though.....or the timing.....but I would guess there will be a further update with the results in March.I would also not be surprised if the Merlon deal completes earlier than some may expect. Fundamentally, there are only a couple of Egyptian approvals left to obtain (though of course timings of such approvals may be particularly difficult to predict). If I were a betting man, I'd guess this may be in the next 6-8 weeks.

[alamaison5] 11/1/2019 16:46

I am in for £3k. MMs will not let me buy any more shares for the last 20mn of the day.
Seller has done a great job. And now we have some volume too.

As we have now closed above 72p; 75p is next then if we break that we'll go to straight to 81.5p
Easy money.

[alamaison5] 10/1/2019 16:53

SIA will not follow AMER but OPHR...

[0rient] 10/1/2019 14:28

He has to generate some interest nigelpm..there's virtually none out there. Day of the trading statement and i couldn't even shift 30k of shares at a decent price and I'm holding over 400k shares..its not the SOCO i remember from a while back! How you going to attract decent size investors/institutions when its a struggle to move shares on?
The dividend is great but the share price depreciation just wipes out all the income gained..everybody has to sell at some point!

Buywell3..i don't see Vietnam & Egypt as that risky compared to other hotbeds around the word!

[buywell3] 10/1/2019 13:08

Prap's there aren't any

I wouldn't fancy any oil company that is pinning its future hopes on Vietnam and Egypt for the next few years with current geopolitical risks being what they are and a global downturn now evident with OIL being seen to be in oversupply

[emptyend] 09/1/2019 21:55

Brent back over $61

[wbecki] 09/1/2019 20:28

Amerisur to follow one hopes...Might even finally see a mega merger between the majors!

[robs12] 09/1/2019 20:20

"Shrinking pool" indeed...SIA may end up as the only plate left on the table...unloved and unwanted...perhaps there is a reason for that.

..and perhaps "shrinking" an unfortunate choice of wording when discussing Soco..

[emptyend] 09/1/2019 18:20

Concur with the last point there, kenobi. There are big plans for Egypt drilling and drilling in sight for 2020 on 125/6 in VN. Could see significant growth in production and resources over next two years?Meanwhile, Faroe Petroleum has gone to DNO and Ophir is in bid talks with Medco............its a shrinking pool of £250-500mn E&P companies out there....

[nigelpm] 09/1/2019 12:40

Nothing to see really - continue to pump oil and make money with the potential for something to take us of the comatose state - in the meantime there's a 7% divi.

[planetgong] 09/1/2019 10:26

I am a bit puzzled why this was released a day at least before today's update?
Peel Hunt today reaffirms its add investment rating on SOCO International PLC [LON:SIA] and cut its price target to 130p (from 140p).
Seen on stockmktwire.

[kenobi] 09/1/2019 10:22

It would be nice to see the production at tgt start to increase again, they spent a lot of money on the water handling facility which was going to be "transformational" when this came on line we had the compressor issue, now it seems thats to do with the gas from the partner field, so they're working around it, by flaring more gas, ok great, we're drilling wells yet production is falling ? The water bottle neck is resolved, what's the issue and whats the plan to fix it ?

Is it just the PV are running down the licence ?

I suspect much more of the focus will be on the merlon side of the business going forward, but still hope for some progress in Vietnam

K

[stepone68] 09/1/2019 09:36

Might be something to do with production dropping every year and Vietnam license expiry getting ever closer.

[0rient] 09/1/2019 09:25

You have the Merlin deal which on paper sounds excellent for SOCO, doubling production & reserves for only a 20% dilution in the company shares. This will lead to further increases in the dividend, possible acquisitions and even buybacks. The current production from Vietnam is stable and throwing good amounts of cash off securing the current divided. You have all this positivity but there is just no interest from the market in SOCO? Why is this?? Have institutions lost faith in Ed Storey? Can he not sell the SOCO story?..does he care at the age of 75 about the SP?
Where's the enthusiasm to generate more institutional buying coming from? more road shows to sell the story?

[robs12] 09/1/2019 08:48

Key points for me are:

- 2019 guidance 6500-7500 boepd with clearly stated uncertainty on reaching higher end of this. Wonder if this will go the way of previous years (e.g 2018 guidance was 8-9000 and actually reached 7274 boepd..., 2016 was 10-11,500 and actually reached 9883.)
- Compressor issues still not fixed..
- 18 well interventions planned on TGT..
- share price down..

[eggbaconandbubble] 09/1/2019 08:25

You're right. Apologies. Just not laid out too well for a speed reading decrepit!!!

[haideralifool] 09/1/2019 08:00

ebb - the glossary does have explanations!