Soco Share Discussion Threads

[gengulphus] 25/8/2016 23:51

Finally, I would add that those boards where every poster is a cheerleader for the company are scarcely worth reading. ...

Agreed, but that's because cheerleaders support their team come what may.

... Dissenting voices should be valued; they can save money for investors.

Yes, provided they are not dissenting voices who oppose the company come what may - they're just as bad as cheerleaders!

The posters who should be valued IMHO are those who recognise and analyse both a company's good points and its bad points. And who, if they happen to encounter a company that they genuinely think has only good points or only bad points, will still engage constructively with posters who feel otherwise, rather than engaging in name calling, mindless repetition, etc.

Gengulphus

[emptyend] 24/8/2016 15:09

Rather tedious how the same few people repeatedly make the same error in identifying scapegoats for their losses.The company that is the subject of this board has actually OUTPERFORMED most mid-cap E&Ps over the last three years. Granted that is scant consolation, as holders have lost 40% of their funds, but a look at Digital Look's heatmaps will show the truth: which is that only Cairn out of the midcap E&Ps has done better - losing a mere 30%. And only a handful of smallcap E&Ps have actually provided any sort of positive return for the last three years.The cause of this is very very straightforward - oil prices have more than halved. It is nothing whatsoever to do with the specific company - which has done better than most, due to strict capital discipline and the return of cash to shareholders. It is purely and simply the fact that investors failed to predict the scale of the oil price collapse that has led to losses.I'm as guilty of that as anyone. But I have no recollection of a single post in H1 2014 on any bulletin board anywhere suggesting that oil prices will halve. I'd be delighted to give due credit to the poster if anyone can show they made such a post.

[ed 123] 24/8/2016 14:47

Melody9999

... the more they are rewarded in shares, then surely they are increasingly motivated to take actions to drive the share price north?

Well, errrr, actually, "No!"

If a company ever had the misfortune to employ directors who needed bonuses to give their best effort, then that company would be employing the wrong people. Directors should already be highly motivated individuals. Bonus schemes imply that directors have the attitude to their work that, say, potato pickers do. Yes, if you offer a potato picker an attainable bonus for picking more potatoes in a day, then they'll probably do it. But, would a director, for instance, sign off a less good deal because they were not getting a bonus?

Regarding my level of unhappiness with Soco management, what I would say is that I am more unhappy with my fellow shareholders for meekly acquiescing to these levels of remuneration.

On my Soco shares, I had the good fortune to sell about half of them a couple of years back, well before the slump in the oil price. I have been selling more since then, trying to offload at relative high points. Not many left now. Obviously and with hindsight, I should have sold the lot when prices were higher. My hope is that I'll wake up to an RNS that Soco has received the payment from the Mongolia agreement. That should see me out.

Finally, I would add that those boards where every poster is a cheerleader for the company are scarcely worth reading. Dissenting voices should be valued; they can save money for investors.

[invisage] 24/8/2016 13:52

Soco is very much an event based investing approach.The way we will see a material increase in the share price is if the Oil price increases a lot or we get a takeover happens.Either of those events are unpredictable. I.e. you could be waiting a long time for something to happen.A Reckit Benckiser will always sell a Durex condom regardless of what's happening in the economy and in turn will keep adding value to its business daily. Event based investing like Soco is only good if you lived forever and you had unlimited time on your hands to wait for an event. Sadly some have been waiting almost a decade now. 10 years is a long time in anyone's life let alone invest career!

[no idea1] 24/8/2016 13:48

Only two places for my investment Soco Int & Alliance Aviation Services

[invisage] 24/8/2016 13:05

GO DOM GO! Only so long you can keep quality down. You see chaps if you buy into a solid business then the share price will follow up.FOCUS on the company. Pay for QUALITY.

[invisage] 24/8/2016 10:22

DOM UP 3%NICL up 1%Bag up 1%KLR up 1%SPD up 1.5%ITV up 1.5%AUTO up 1.5%MCS up 2.5%PAYS up 2%Soco DOWN 1%....what a pile of poo to keep holding.

[invisage] 24/8/2016 00:17

MelodyWhy are you happy to hold Soco?

[melody9999] 23/8/2016 23:26

Ed 18289. We can debate whether Directors should receive the shares. But the more they are rewarded in shares, then surely they are increasingly motivated to take actions to drive the share price north?

If people are unhappy with the SOCO management, then ny all means make your point, sell your shares.... but then move on to companies where you are happier.

[invisage] 23/8/2016 19:19

The trick to winning in the stockmarket is to not trade much as long term those fees add up. But you got to be holding the right stocks.The ones that regularly enhance their intrinsic value. Too many companies on the stockmarket destroy value.

[invisage] 23/8/2016 17:51

Stinky Soco down on the day...

[haideralifool] 23/8/2016 10:03

FT reports that Soco and Cairn have been called out by the ClientEarth law firm about lack of reporting of the risks to the companies due to climate change.

Personally, I like the reporting of risks that are specific/unique to a company that would otherwise be difficult for investors to fathom.

But surely anyone who reads a newspaper could work this one out?



And you can read ee's comment too.

[invisage] 23/8/2016 10:00

Soco is back near 150p again. Thats all this stock does flirt with 150p.Too many long term suffering shareholders. Just cut the pain imo dyor.The house builders are flying today.

[emptyend] 17/8/2016 15:19

Just on the Directors remuneration point, did anyone who was able to attend the AGM actually ask a question on the topic, or did they just virtue-signal without making a constructive suggestion? AIRI, the compensation package is due for a periodic review and shareholder approval at the next AGM, so if there are any particular concerns over remuneration then the AGM was the last formal chance to make a constructive point on the matter.I take the view that there are enough checks and balances within the board and shareholder structure to exert an appropriate amount of pressure - but if anyone who has a contrary opinion actually asked a question on the topic, I'd be interested to hear the response.

[invisage] 17/8/2016 13:11

Readers should not be fooled by recent rises in Soco. It is up because Oil is up. Once the market figures out Opec and Russia tie up to cut production has no substance the price will once again fall.In the mean time this pull back in the markets is necessary and healthy. It's only a matter of time before FTSE makes all time new highs Imo. I've added to holdings in recent days.After all it is dividend season. Makes sense to have loaded up on BATS and IMB.3.5% Yields with a bit of growth are good. In fact very good as we are in a very low growth environment. With that kind of return your beating most of the public Imo.

[ed 123] 17/8/2016 12:42

Hi melody9999.

Imv, Invisage is the best current poster on this board. If you don't like to read the posts, you could filter him.

Btw, did you see me at this year's Soco agm, voting against the directors' remuneration? Did you attend?

Do you suppose Soco's management would do anything different whatsoever if they were only earning basic salary? Imo, if shareholdesr voted for nil bonuses the directors would not resign. Could you see them walking away and leaving others to run the business? No, they will want to stay put, whatever, because of their equity stakes.

There is no need and no justification to pay big remuneration to Soco directors.

As long as they pay themselves big remuneration their interests will not be aligned with mine. If the day ever came that they were awarded only a fair basic pay and they had to look to the share price of their existing holdings for anything extra, then we would be aligned.

[melody9999] 16/8/2016 22:53

Invisage - the facts are:
- the RNS relates to an award under the LTIP made back in 2012
- it just advises a lower number of shares will be taken and the company will pay the resulting tax.

It is good that management's interests are aligned with shareholders.

I understand you do not like the SOCO management, buy why waste your time here when you could make more positive contributions elsewhere?

[sawadee3] 15/8/2016 09:15

Negativity always makes me want to buy more. Keep going :-)

Happy days chaps :-)

[invisage] 14/8/2016 20:24

Stay invested ee, your 20 times return going to turn to a lot less with time.

Everyone else has figured out the Soco clowns and ee's nonsense.

Management appear to be bailing themselves out awarding themselves shares from the employee trust, it is quite hard for the management to lose when it feels like they can print their own shares.

Very dodgy to publish such an RNS on a late Friday evening!!!! IMO DYOR

[banj] 14/8/2016 20:05

Uninvestable IMHO and has been for quite some time!

[banj] 14/8/2016 20:03

Renewables are killing this sector just like oil & gas once killed king coal. In 1900 1.2m were employed in the UK coal industry, now the figure is 300!!! The party is over and the sector screwed, any rise in price is met with increased production as countries try to monitise reserves asap before its over. Oh and the SIA management team are clowns but that's another story..

[emptyend] 13/8/2016 08:18

You misunderstand my point. The only remaining rubber stamp is the government exchange control approval, which is always the last stage in a relatively lengthy process.Re the board, you seem to have forgotten the directors added and subtracted in the last few years. I would expect further changes in the next year. Only two NEDs have been on longer than 7 years and one of those is 41 and represents the major shareholding group.