Soco Share Discussion Threads

[weeeck] 12/4/2017 15:50

There will be an ever increasing need for oil in the years to come. American refineries produce 19 gallons of petrol and 12 gallons of diesel/heating oil from each 42 gallon barrel of crude. The other 11 gallons go into plastics, animal foodstuffs and various chemicals. You can't get that from a windmill. Also in the US the proportion of eclectrically powered vehicles to conventionally combusted vehicles is still less than 1%.

[tomke22] 12/4/2017 15:36

Coming back to oil

I am surprised to read of the economic performance of solar and wind energy generation which is becoming very competitive with oil. The trend that I suspect will keep oil afloat is its key use as feedstock for the plastics industry and the worlds nearly insatiable demand for energy. Also forgotten is that the supply chain on wind and solar is also dependent on oil.

I don't know what the stats are but when I have some work to do I buy or hire a power tool to do it. My so-called smart phone needs recharging twice daily. My old Nokia was happy with a charge every week. I use more energy now than I did 10 years ago.

The global growth of the middle classes in the emerging world will buy all the power hungry devices that only the developed nations currently enjoy. The world will have to run very fast to keep up with the demand.

Tom

[emptyend] 12/4/2017 13:48

You've been watching too much RT "news" kenobi.......IMO this is quite an important phase in the geopolitical "Great Game" - and I wouldn't believe a word any of the parties claim!

[kenobi] 12/4/2017 11:51

Not read the whole article but it seems deluded,

The US, have bombed an airfield, but said they're not prepared to get involved,

but they tell us asad is on the way out and russia risks becoming irrelevant if they continue to support him ? yet they intervened militarily, and turned the war in his favour.

It is possible that the gas attack was carried out by assad, but why would he ? the tide of war is clearly in his favour and until this, the US showed no appetite for getting involved. More likely it's a rebel group, trying to get the US involved or a false flag if you ask me. It seems that it's the US risking becoming irrelevant,
and no chance of that pipeline from Qatar to turkey going through Syria, now that the Russians have saved Asad.

but perhaps I'm missing something. This might be a president in trouble proving he's not the stooge of the russians. (or trying to),

I agree there may be more instability, perhaps the bromance with putin is over now he realises that Putin might flatter you but won't play nice.

K

[emptyend] 12/4/2017 08:54

"Russia was either incompetent or inattentive.......it doesn't matter which......"https://www.nytimes.com/2017/04/11/world/europe/russia-syria-rex-tillerson.html......watch this space for Putin's comments?

[emptyend] 12/4/2017 08:49

Brent now back at the levels before the March fall - and up $6 from the March low. Perhaps more importantly, it is again on the cusp of making a two-year high and perhaps getting back above $60, which hasn't been seen since H1 2015. The recent rise may have more to do with geopolitics rather than fundamentals - but if the Western hand-wringing inaction over Syria is coming to an end, then the near future looks more unpredictable politically-speaking.......nobody knows the nexus between geopolitics and oil better than Rex Tillerson.

[emptyend] 11/4/2017 14:13

....ps....the other area that is plainly on the radar in North Africa (per recent interview of ES)

[emptyend] 09/4/2017 20:33

Undeniable that the Cairn people know India well. Also I think there are a number of possible deals to be done there. However, I'd just see Asia as more likely than elsewhere....certainly more likely than Greenland!

[extrader] 09/4/2017 18:49

Hi ee,

Would that be India, perchance because of Ed Storey's historic NED role in CNE, in your view ?

ATB

[emptyend] 09/4/2017 16:37

Greenland was a Cairn venture. As was India. I know which is more likely here.......

[lauders] 09/4/2017 11:19

Thanks for the feedback greyingsurfer.

I note this opinion from Malcy after the results in February. I missed it until now!

SOCO International

A rather uninspiring update from SOCO this morning as they miss their production guidance producing 9,883 b/d against a prediction of 10-11/- b/d although warning of slippage had been heeded. With over $100m of cash and a very strong model that delivers high prices and low opex giving a break even of the low $20's one cant grumble but it is clear that they are gearing up for something hence the new ex-Cairn arrivals.



This from Malcy also of interest. Another I missed!

SOCO International

Board changes dont often figure that much unless there is a particular reason so today's news that Dr Watts is leaving the board of SIA has some interest. This is because in a few weeks time he is reappearing at the company with Jann Brown, also formerly of Cairn to set up their new Business Development Group. The actual wording from the company goes like this ‘ This change signals a renewed emphasis on growth to complement our high quality producing assets'. So, Watts and Brown are to be tasked with finding the next growth area for SIA, any sign of Greenland in the betting?



Greenland?

[greyingsurfer] 04/4/2017 14:25

It's a production well, so I wouldn't expect any RNS. I'd expect a round up later in the year, along with other operations news.

Peter

[lauders] 04/4/2017 12:23

From the 13th March RNS:

Preparations to commence drilling the TGT-H1-30P well into the crestal part of the H1.1 Fault block were completed and the well was spudded on 8 March 2017. The well will target the Miocene and Oligocene reservoir horizons. It is expected to take 30 days to drill and complete the well. The PVD VI rig will then move to the H5-WHP to continue the remaining, two well, 2017 TGT development/appraisal drilling programme.

How soon after spudding do results come when a timeline of 30 days is given and no hitches develop? 30 days will be up on Friday, so ......?

Perhaps an RNS next week? Friday would be too soon!

[buywell3] 03/4/2017 23:52

North Korea

[nigelpm] 27/3/2017 15:28

What's also quite interesting is the range Soco is exhibiting on a daily basis - been quite easy for a while to buy low, sell high on a daily basis and make a few % after all charges.

[nigelpm] 27/3/2017 14:36

It's silly for the reasons I stated. I'm happy to keep buying.

[stepone68] 27/3/2017 13:18

We need oil price increase and /or production increase for the share price to move - pending any further exploration.

[keith95] 27/3/2017 12:59

... former shareholders are equally as bad as ex-smokers ....

Ed 12327 Mar '17 - 12:46 - 19347 of 19347 0 0 (Filtered)


Enough.

[ed 123] 27/3/2017 12:46

But why is it silly?

The company is going to invest in something - some exploration and some production? As is normal, the exploration is most likely to result in a write-off of the expenses. There will be expenditure aimed at boosting TGT. Ok, but it will cost and will take time to come online. Also, there may be some buying of production elsewhere. When the oil price was $35 and falling, a good bargain might have been won. Less chance now, and a gamble on the future oil price.

So, over the next couple of years .... less cash flow paid back to shareholders as dividends and uncertainty over what exactly they intend to do and what level of future production they will achieve. Why do you think that's attractive?

Reserves? Either the market gives credit for reserves or it gives credit for the stream of cashflow till the licence expires. You won't get both - it would be double counting.

Overall, I'm not surprised it's around 130p in the market. With a bit of general market weakness (lowered Trump expectations in the US, or a summertime correction) Soco could dip under 120p, imo. We'll see.

[nigelpm] 27/3/2017 11:16

This weakness is getting a little silly -

£120m of cash.

Market cap - £433m

Effectively paying £320m for £37m of annual cash flow from ops - in a terrible year for oil.

That's before you consider reserves etc..

[redartbmud] 27/3/2017 08:52

POO not helping, and it looks like it will remain on the soft side for a while.

[cwa1] 27/3/2017 08:51

Yes, I think the fat lady is just warming up her vocal chords on HUR re Halifax never mind actually starting to sing yet. A LONG way to go on that before a declaration of unbridled success. Hope springs eternal though.......

[emptyend] 27/3/2017 08:30

....I'd rather have something that actually flowed....

[lauders] 27/3/2017 08:06

Now if we could just have a HUR type discovery here please!