Soco Share Discussion Threads

[emptyend] 31/7/2019 07:25

Shareholders have received nearly £1 per share since 2013....

[croasdalelfc] 31/7/2019 07:12

Revenue from Eygpt is just $26 a barrel - presumably that is revenue share and is after royalty - but pretax ?Anyone care to guess

[russiaguru] 31/7/2019 07:00

Vietnam being sorted out, Egypt looks like a future money pit.

50p target

[general george] 31/7/2019 06:51

Hints at large production increase in Egypt. Offtake optimisation etc.

[nigelpm] 31/7/2019 06:50

All a bit dull really but nice to see the Israel news - presumably too late to be included in the RNS.

[buywell3] 31/7/2019 06:32

I will let the rampers have first dibs

[pumph] 31/7/2019 06:23

Update published..

[lauders] 31/7/2019 01:05

We could get an RNS on this so it could be included in an update soon:

The Petroleum Council, the national body tasked with advising the energy minister regarding petroleum rights, approved granting 12 new licenses – for gas and oil exploration offshore Israel – to two consortia on Tuesday.

After reviewing bids submitted to the Energy Ministry during its second offshore energy tender process, council members recommended awarding eight exploration licenses to a consortium – made up of British companies SOCO International and Cairn Energy together with Ratio Oil Exploration – and four licenses to a consortium of the British firm, Energean Oil & Gas in partnership with Israel Opportunity.

Edit - Another take on the news:

[nigelpm] 30/7/2019 20:10

Not that I'm aware of - it was 31 July last year so expected soonish maybe?

[pumph] 30/7/2019 19:58

Is there a trading update expected tomorrow ? Hope the steep share price fall late in the day isn’t an indication of how encouraging it is..

[nigelpm] 28/7/2019 21:58

More Egyptian assets being sold :

hxxps://www.usnews.com/news/top-news/articles/2019-07-28/exclusive-uaes-dana-gas-hires-adviser-to-sell-egypt-assets

[plasybryn] 28/7/2019 21:55

But since then assets have been sold? I assume shareholders benefited from payouts. Is that correct?

[3800] 28/7/2019 21:21

people were saying that over ten years ago when the price was almost ten times higher Plasybryn

[plasybryn] 28/7/2019 17:01

I don't really understand why this stock appears so cheap.

[greyingsurfer] 25/7/2019 11:20

They tend to be a bit conservative :-)

[knowing] 25/7/2019 11:11

I wasn't aware Peel had a 130p target price for Soco

[lauders] 25/7/2019 01:20

That is encouraging but I would prefer it, as would all of us of course, if SIA was the one discovering the oil and announcing it. Might actually do something positive to the share price for once. Long, long overdue! At this rate SIA are going to be "flat" for the year or at least within a small range. What we need is a clear/decisive breakout on good news!

[emptyend] 24/7/2019 20:18

https://www.eni.com/en_IT/media/comunicato.page?month=07&year=2019&title=eni-announces-new-production-from-the-western-desert-and-new-near-field-discoveries-onshore-egypt

[crossing_the_rubicon] 24/7/2019 18:38

Nige,

Who is Fan?

I am a fan though, yes. :)

[nigelpm] 24/7/2019 18:24

Cheers Fan - although I'm definitely not spot on - been lucky a lot of late - that's for sure.

[crossing_the_rubicon] 24/7/2019 17:55

@Lukead,

NigelPM spot on Oil side most of the time you'll find.

[greyingsurfer] 24/7/2019 12:45

I've exchanged posts with Nigel for years. I haven't always agreed, but I generally find his posts worth reading. Yours...?

[lukead] 24/7/2019 12:35

I see nigelpm the chump is here, I know because I was looking at RRE twitter and his name popped up. I call him Mr. Grumpy. If I were you folks, I’d give him a wide berth.
PS despite the rise today in RRE, i’d ditch this share and buy into RRE