Soco Share Discussion Threads

[0rient] 21/2/2019 14:59

No volume, no interest by the market..drip feeder seller..I hadn't realised just how bad sentiment is for SOCO. They must have p*ssed people off badly last couple of years for this to happen..we need to see some glimmer of light very soon!

[extrader] 18/2/2019 14:32

Hi RG,

I'm clearly in the springtime of my senility....

ATB

[tournesol] 18/2/2019 14:05

Friel not Frey

[extrader] 18/2/2019 09:53

Hi tournesol, SteMis et al,

I stand corrected (partially) : GW was indeed involved in the campaign agst Soco / Virunga.

My reference to WWF (google WWF Virunga) probably goes back to this board, which IIRC was at the time particularly unhappy at luvvy Anna Frey's emoting.....(cue lots of links to pictures of the starlet...;-<)

ATB

[dunderheed] 18/2/2019 08:56

Christ it's not the buybacks that should concern us guys.
It's the mediocre (at best) mgt pfmce in finding decent deals for sia?
How long has this "dream team" been in situ and all that has been landed is "Merlin"?!
I know it is mis spelt as well.
All imho and dyor.

[pumph] 18/2/2019 08:47

Much as it pains me agreeing with buywell, but please no more buybacks..

[buywell3] 18/2/2019 04:00

Yeh that is what this needs lots and lots of more buybacks eh

[lauders] 18/2/2019 01:27

Orient- You missed “further M&A developments” I would think. Agree Merlon should be a turning point, but been thinking one of those would develop for years and haven’t been correct so far. With many of the BOD thinking of retirement plans something good has to come surely?

[0rient] 17/2/2019 18:34

and what if any short term catalysts to change that soon?

Merlin is a complete game changer..doubles production, reserves, potential big upside exploration.

Possible chance of announcing buybacks on the March result?

New major shareholders on completion of Merlon deal..they will have an input & new ideas to increase liquidity and the share price.

SOCO has been punished massively for past poor judgement..the big divi yield of currently 7/8% will limit the downside, bottom fishers(inc myself)are seeing good value down here 👍🏻

[kenmitch] 17/2/2019 17:12

Yes. And Soco has done far worse than similar shares.

e.g The gains so far this year from the lows of late last year are:-

CAIRN + 50%

PREMIER +40%

TULLOW +35%

SOCO + 8%

And last year the gains (but loss for Soco) were:-

CAIRN + 6%

PREMIER +56%

TULLOW +34%

SOCO minus 45%.

Obvious questions, are why has Soco done SO much worse, and what if any short term catalysts to change that soon?

[stemis] 17/2/2019 16:21

hxxps://www.globalwitness.org/en/campaigns/democratic-republic-congo/soco-in-virunga/

hxxps://www.globalwitness.org/fr/press-releases/church-england-divests-uk-oil-company-soco-international-after-virunga-scandal/

Interestingly, since then its been pretty much all downhill for SOCO's share price...

[tournesol] 17/2/2019 15:54

Extrader

google "global witness virunga"

GW was fully engaged in the campaign against Soco

[extrader] 17/2/2019 08:25

Hi tournesol et al,

Agree the campaign was vindictive, but it was the WWF, as I recall, not Global Witness.

Discredit where discredit is due, please ;-> !

ATB

[buywell3] 17/2/2019 00:55

buywell3 - 13 Sep 2017 - 19:33:18 - 19822 of 22253 SOCO - The Endgame - SIA

One would expect that after SOCO has done all the investment and work and OIL is flowing ... albeit at reducing world prices due to oversupply as Electric cars roll off the production lines in 2018 in ever increasing numbers.

One would expect that the countries in the far flung places SOCO have decided to drill
will then want a bigger piece of their commodity action ... or else

This applies in Africa as well as Vietnam and just about all other Asian and South American countries.

Risk is the name of the game

China is a huge wild card which could trump all else.

[tournesol] 16/2/2019 22:59

Stemis

Look back at the campaign that GW conducted against Soco's proposed exploration in Virunga. It was, in my opinion, deceitful, manipulative and unbalanced.

[buywell3] 16/2/2019 21:11

Why did SIA start to look elsewhere for OIL ?

Other than their main base in Vietnam ?

I believe I did make this point some time ago

Why yu no wissen ?

OIL is not well in Vietnam eh

[emptyend] 16/2/2019 12:54

Hardly surprising given deal terms and non-producing field status. Look for latest view in 6/3 prelims.

[stemis] 16/2/2019 11:17

Seems a pretty pukka organisation to me



In terms of the commercial value of the sale of Congo interests, it's interesting to see that SOCO's estimate of discounted risk value of the 'upto $10m' cash consideration of the sale and the 'upto $1 per barrel royalty on future production' was.....£490,000. Do we actually know how much, if any, has been received?

[emptyend] 16/2/2019 10:37

There seem to have been a range of post-sale machinations over Marine XI, with the Italian press chasing ENI. As ever, the question to ask is "cui bono?"......Neutral for SOCO, as far as I can tell but may be helpful for others......

[tournesol] 16/2/2019 09:58

A more appropriate name for this organisation might be Global Witless

[greyingsurfer] 16/2/2019 08:37

You're right EE, thanks for the correction. The mention of Global Witness just set me off! Though I can't see that changing my view of any criticism coming from their direction.

[emptyend] 16/2/2019 03:18

Simply ignorant drivel to suggest there was a lack of commercial sense in the deal. May not have been what was once hoped for, but that is different matter!This is the Congo B Marine XI asset though, Peter, not the relinquished one that caused all the fuss.

[volsung] 16/2/2019 00:21

I was getting interested in these because the chart was interesting. Now the Global Witness stuff is putting me off. Thought Soco had learned after the Virunga debacle that CSR is important. Oh well plenty more shares out there

[magic_spehar] 15/2/2019 22:07

Thanks Greyingsurfer. Your explanation makes sense.