Soco Share Discussion Threads

[extrader] 26/2/2019 17:02

Hi Orient,

Well, US$ 10M is about half the annual divi, so not 'immaterial'...

ATB

[0rient] 26/2/2019 16:30

Congo deal is literally chicken feed..zero impact either way!

Gobsmacked to see buywell3 saying buy!! blimey :-)

[kev0856153] 26/2/2019 16:07

Further to fall since they will have to RNS the likely collpase of the Congo deal.

[buywell3] 26/2/2019 15:22

I note CEY got a pasting the other day when the cost of running a Gold operation in Egypt was revealed.

When a company spends and sets up an operation in some of these far flung places that are sovereign nations with their own rules and regulations, taxation rates and ways of doing business that are different to the UK

It has to live with the consequences

OIL I see is wobbling as Trump starts to use it again as a big stick

If SOCO is considering buybacks again

perhaps now is the time for them to press the buy button again

[pumph] 26/2/2019 11:35

Doesn’t seem to matter what price looks like a ridiculous bargain - there will always be a lower one along shortly after. The Merlon completion can’t arrive too soon..

[extrader] 26/2/2019 09:41

Hi all,

Soco's sale of its Congo-B interests appears to have run into difficulty.

This was the deal

It appears that the buyer, Coastal, private Norwegian interests, is 'close' to the President, Denis Nguesso, and his family.

Per Africa Intelligence, the local authorities are unwilling to OK the asset disposal because of questionmarks over Coastal's capabilities and resources, see

..."le ministre fait valoir que Coastal Energy, du norvégien Conrad Clauson qui a déboursé 10 millions $ pour acheter la filiale de Soco au Congo-B Soco Congo qui contrôle Marine XI , n'a pas démontré les capacités financières et techniques pour prendre ce rôle d'opérateur…."

Global Witness also has something to say on the matter, per google...;-<<br />
The Congos between them haven't brought Soco much joy.

ATB

[nigelpm] 26/2/2019 09:06

Seller wasn't done - 66p to buy - go on then!

[0rient] 25/2/2019 12:35

Hi Stepone, yes sorry you are right..i meant cross the % threshold although i remember reading somewhere that they have a period of grace if still selling before reporting the sell. Not sure if its right.
The seller has been large though and its been going on for weeks/months now..I've bought a shed load from him as have others so must be close to being finished 👍🏻

[stepone68] 25/2/2019 12:09

Surely they only report when they cross a threshold? Does being 'finished' or otherwise have anything to do with it?

[0rient] 25/2/2019 12:07

Just waiting for the rns to tell us who has been selling shares & drip feeding the market..cant see it being long now before they have been cleared out and finished 👍🏻

[0rient] 25/2/2019 09:01

Nice find WeeEck...looking forward to SOCO announcing that Merlon deal is complete!! :-)

[weeeck] 25/2/2019 08:50

Very Positive article on Egypt and future oil production.

[nigelpm] 22/2/2019 16:29

Paul Curtis on Twitter:

I bt another 50K at 69p and 50K at 68.5p. Been a falling knife but I’m told one seller just about cleared

[alamaison5] 22/2/2019 15:38

SIA: Heading to 63p. Poor results, continuously, but the deal is good. Therefore new lows are expected before the next rise. Waiting for 63p.

[nigelpm] 22/2/2019 13:23

Definitely getting to that point Orient.

[0rient] 22/2/2019 12:53

I'm surprised one of big shareholders have not tried shaking things up a little with other shareholder support..its crying out for some shareholder activism. The general lack of interest & lousy daily volume is something which could & should have been addressed ages ago.

[stepone68] 22/2/2019 12:50

Here's hoping G. In September interims, guidance was 'revised' (lowered!) to 7,000-7,400 for 2018. For 2019 it's 6,500-7,500. What will it be by the time the results come out I wonder?

Does anyone know the license end dates? I've always had 2028 in my head from discussions a few years ago on Stockopedia, but I might have remembered that wrong, and can't find the discussion now.

Thanks,
StepOne

[general george] 22/2/2019 12:24

Hi Stepone,

I am just saying what I see.
If production stays at 6.5-7.5k

And Merlon completes, I think we have a great company at a rock bottom price.

Agree Licence ext. and the suffer production should have had attention.
Hopefully this can be addressed.

The share price seems to have been carving out a bottom, and the divi has soothed the drop a little. (my ave. price is mid 80's)

Cheers GG

[stepone68] 22/2/2019 11:53

At the time (Oct 17) production guidance was 8-9k, now it's 6.5-7.5. And falling.

[stepone68] 22/2/2019 11:51

I mean, there is still no sign of any production increase, or license extension. Two things I think we need to get the share price moving in the right direction.

[stepone68] 22/2/2019 11:48

George and Nigel, I admire your optimism, but 18 months ago Nigel was posting that the price was insanely low, at 120 ish.



How can you be sure that the slide has stopped now?

StepOne (still holding!)

[nigelpm] 22/2/2019 10:04

Getting skewered on a daily basis given the rise in oil and its peers.

Something is going terribly wrong in terms of the share price but from the RNS and outlook you'd tend to disagree..... in conclusion I agree with GG.

[general george] 22/2/2019 09:57

I wonder who is giving these away at the bottom.

Well I am happy to take a few more.

We saw with Ophir how quickly an acquisition can work in ones favour.
With SIA it will be a slower process, as they will need to drill to get production up.

Long term, I think this will be fantastic.

[lauders] 21/2/2019 15:07

I wish you good fortune Orient. May the force be with you!

[0rient] 21/2/2019 15:04

I've bought a few more yesterday & today..lets hope its a wise move!