Soco Share Discussion Threads

[yasrub] 01/8/2019 13:14

It is a bit of a turgid situation - I don't want rampy dialogue but recent company communications have seemed to lack clear direction of growth and optimism. You could go as far as defensive and seemingly tired ie the board needs some younger guns! The Egyptian transaction has not excited anyone so I hope management are able to deliver - otherwise as you were!

[stepone68] 01/8/2019 13:02

I've been just as wrong, Nigel. But I don't think you can say we are at a point of extreme pessimism. If Soco fails to increase production next year, then there will be more pessimism to come.

[nigelpm] 01/8/2019 12:54

Very true Squire. I have absolutely no bones about admitting I've called this horrendously over time and you'd be a complete mug to listen to me on this.

Hope that helps ;-)

[stepone68] 01/8/2019 12:03

Hm. Think you have said similar in the past, Nigel. My own view is that they need to actually deliver on some promises (i.e. increased production and license extensions) before the market is going to take any notice.

[nigelpm] 01/8/2019 11:45

My own view FWIW is that we are now very close to the point of extreme pessimism here.

It's not quite there yet but something will have to give.

Clearly the bulls hope that's the share price returning to more "sensible levels" whereas the bear hope it's the company fundamentals. A bizarre situation really.

[general george] 01/8/2019 11:06

I think the problem with Soco is that they need to get moving on Egypt asap.

The assets should prove good. But need investment.

Soco should have gone after the BP assets that SDX were in for.

They need to get this Merlon part of the company moving. They may have overpaid for it. But then bear in mind there is alot of cost oil they should be recovering.

It doesn't take much of a change in sentiment to get this moving.

RRE moved due to an instant large increase in production. SIA haven't done that. They better hope for some good drill results.

[nigelpm] 01/8/2019 10:35

Market is indeed having a right old hissy fit. Could be going the way of OPHR - opportunistic bid which sees the holders finally throw in the towel - stranger things have happened.

[buywell3] 01/8/2019 09:44

Market does not like this does it

Don't blame me for seeing it coming

My intentions are and always have been :
to try to save ADVFN posters from losing their cash

[emptyend] 01/8/2019 09:36

....aaahhh yes....but are they right?A couple of years ago, people were moaning that their shareprice wasn't doing as well as Sound Oil.......

[lauders] 01/8/2019 09:32

Trouble is ANY news released by SIA at the moment has a negative impact. New lows. Why can't SIA do any deals of the RRE type for example? The charts are chalk and cheese!

[crossing_the_rubicon] 01/8/2019 09:29

Agree EE.

Also 3) To diversify away from over exposure to Vietnam.
Doesn't pay to be a one trick pony these days..

[emptyend] 01/8/2019 06:16

As I see it, the principal attraction for the Egypt asset was two-fold:1. The technical potential for doubling production by development investment at relatively low cost per well, and2. An opportunity to secure c.500mn bbls of upside by explo drilling in the undeveloped parts of the concession to the north.The success or otherwise of this plan is unlikely to become clear until H2 2020 - it is all about execution.

[joestalin] 31/7/2019 19:14

The Israeli Ministry of Energy has awarded 12 new offshore blocks in Israel’s Exclusive Economic Zone in its second license round, adding British companies Cairn and Soco to an international roster of oil and gas companies operating in the country’s waters. Licenses are valid for three years, extendable to up to seven years dependent on work program performance.

SP down and market underwhelmed.

I half expect the BBC to blame Brexit.

[russiaguru] 31/7/2019 18:02

Egypt is terrible place for oil assets, high tax, complex governance and extremely slow workforce.

Sia overpaid for their assets already producing 2k lower than before takeover.

Now hold quite a bit of debt, they should have farmed in with I3e or takenover a more diverse production asset.

[buywell3] 31/7/2019 11:21

Looks like $45 coming again to me



What do you guys think ?

Or do you ?

I am beginning to wonder

Historical Chart lows still IMO remain to be tested

[stepone68] 31/7/2019 11:09

Are you kidding? I don't tell my wife anything. Prior to the financial crash and Soco meltdown I did occasionally mention how much our shares were worth but she never seemed interested, and only muttered ridiculous suggestions like "Why don't we pay off the mortgage?". "Because, ", I retorted, "I make a higher return on the shares than the mortgage interest costs us". And we all know how that turned out....!

[investopia] 31/7/2019 09:37

Ahrg! These damn reversals are a pain for long-term shareholders in many names.

I've been caught myself several times.

But have you told the missus about all this?

I told mine and I think I just about got away with it (at least I'm still married!)

[redhill9] 31/7/2019 09:30

The net loss of c.290p is actually worse for those who reinvested their dividends back into Soco, as apparently some have done.

Conversely of course, investing the c.100p of dividends successfully elsewhere would have mitigated the loss.

[emptyend] 31/7/2019 09:29

Sorry for the repetition - the app seemed to have hung.

[emptyend] 31/7/2019 09:28

Well yes...obviously.....I was merely answering a specific question.But 450p to 160p+ is a considerably more accurate of the impact on shareholders than yours or the one posited recently by someone posing as a phone number.The point is simply that it is ridiculous for people to simplistically look at charts that ignore the fact that an amount roughly equal to the current share price was actually returned to shareholders just in 2013/14.I will also be interested to see the current earnings yield in the results.

[emptyend] 31/7/2019 09:20

Well yes....obviously......I was answering a question!But 450p to 160p+ is a rather better (and considerably more accurate) reflection of the actual change in value to shareholders.

[robs12] 31/7/2019 08:49

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

During which time the share price has gone from £4.50 to 65p...

[pumph] 31/7/2019 08:46

Aren’t all exploration areas ‘money pits’ if you’re so inclined to describe drilling and development expenditure ? What’s so concerning about this company’s activity in Egypt ? Presumably the new Israel licences are ‘money pits’ too..

[buywell3] 31/7/2019 08:29

Why is RKH seeking to exit Egypt ?

What are they not happy about ?