Soco Share Discussion Threads

[stepone68] 18/5/2017 12:42

Same as in 2015, except 2 years less on the license in which to benefit from any increase in production, which seems as far away as ever.

[nigelpm] 18/5/2017 12:21

Buyback would seem logical to me certainly over spending time/money investigating other assets - particularly when your own assets are very reasonable priced.

[lauders] 18/5/2017 11:58

Still way under what I paid EE! So I certainly hope not. Would prefer SIA to get the PR rolling again and succeed with the drill bit again. Only action and newsflow is going to change the direction here, even if it is good value now. Not much good to those who happened to buy in before the reclassification and market decline!

[emptyend] 18/5/2017 11:50

Its the same company with the same assets and a similar oil price as it was in Feb 2015 before the reserves were reclassified. Nothing material has happened (apart from getting $50mn back from the Chinese and cutting commitments in Africa). The oil hasn't "gone away", its not been written off......its just that the lack of drilling meant it wasn't going to be produced as quickly. ....but the company does indeed need to do things that grab the attention once again, and bring people back into the shares.Perhaps they might kindly arrange to be taken over at 230p or so?

[adam] 18/5/2017 11:40

This is sickening

[nigelpm] 18/5/2017 07:57

I'm afraid you are showing the dangers of focusing too much on price and not value.

It's very common but not very helpful either.

The business and cashflows aren't fundamentally changing other than following the POO up and down.

A weaker share price is an opportunity if you believe in the business.

If you don't it's time to sell.

[lauders] 18/5/2017 02:20

Nigel - Trouble is it is moving in the WRONG direction. At least it is ex-dividend next week. Perhaps some will buy for income and we may even get some news (let's pray) so a double benefit. We can only but hope.

Perhaps the hunt is getting nearer a target?

[nigelpm] 17/5/2017 10:28

Not really moving on any notable volume - boredom creeping in I'd imagine.

[cwa1] 17/5/2017 09:48

Rui installing a new swimming pool at one of his pads?

[emptyend] 17/5/2017 07:51

Can't disagree with that.....but see no reason whatsoever for the weakness, other than sentiment.

[lauders] 17/5/2017 02:51

About time we had some good news here! SIA really is a "dog" at the moment. We need a change in sentiment sooner rather than later.

[gunner_ni] 15/5/2017 13:57

Got the answer to my question. They were hit by a virus which knocked their website out for about 10 days but they say the problem is now nearly resolved. At least some parts of their website are now accessible.

[gunner_ni] 13/5/2017 16:53

Sorry for posting off topic but I was wondering if any of you guys are subscribers to Company REFS? I have a weekend only subscription and haven't logged in for a while but I haven't been able to get in all day today. The entire website seems to be down and I can't even find a phone number to ring them to check what's wrong. Any help much appreciated.

[kenobi] 11/5/2017 09:41

Hard to judge that one way or the other, the counter argument is that the tough years have seen rapid increases in productivity, and wells can be drilled and fracked in a fraction of the time they previously were. The shale resource is vast, and a game changer, at least for now. How long that remains the case we shall see, will europe embrace fracking like the US has ? there seems to be much more resistance in europe.

K

[emptyend] 11/5/2017 08:16

I wouldn't rush to assume a close correlation between shale rig count and oil production. You'll recall the previous discussions about decline rates in shale and the theory that the best bits of the basins were drilled when the oil price was really low..........so it follows that more wells will be required as time passes in order to produce the same amounts of oil.Very difficult to analyse precisely what is going on without looking at each basin individually, I suggest.

[peterbill] 11/5/2017 04:09

US shale groups roar back to life after oil slump ... headline behind FT pay wall



It goes on to say that horizontal drilling rig count is increasing faster than before the slump, from around 250 to around 600, not too good for the oil price.


Blurb below ..

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our T&Cs and Copyright Policy for more detail. Email [e-mail] to buy additional rights.


The number of active rigs in the US drilling the horizontal wells used for shale oil production has more than doubled over the past 12 months, from 248 to 598 last week, according to Baker Hughes ... "

[emptyend] 08/5/2017 13:40

...precisely......

[redhill9] 08/5/2017 12:14

To be fair, I suspect it was the author of the comment who used the word "frontier" rather than Alex Wright?

Also, unless my "shares in issue" figure is much out of date, I calculate that 17.2m shares is only a tad over 5% to start with so to go below 5% by an unidentified number may not have involved selling a lot of shares. I doubt he's sold too many or the share price would have reflected the decrease which it doesn't appear to have done.

A slightly contrived news article I think.

[emptyend] 08/5/2017 08:20

A comment devalued in the first few words by saying "frontier" in the context of a basin which has been producing for decades.....Incidentally, the noted "AA-rated" investor only bought at similar prices last year, briefly pushing the shares to over 160p.

[redartbmud] 08/5/2017 07:59

Citywire AA-rated value specialist Alex Wright has sold down his stake in frontier oil and gas explorer SOCO International (SIA.L) after its shares climbed sharply off a recent low.

Wright previously owned 17.2 million shares in the business and sold down the position to below 5% of the share capital - a level which does not require disclosure. The shares are currently trading at 145.3p.

The shares are primarily held in his £3.1 billion Fidelity Special Situations fund, with a smaller position in the £638 million Fidelity Special Values fund.

SOCO is up 12% from a recent low of 127p. Trading in the company, which holds exploration and development rights in Angola, Vietnam and the Democratic Republic of Congo, has been unsurprisingly volatile through the commodity slump.

The most recent share price rise followed an announcement that after two years of minimal activity it would restart drilling in Vietnam. Investec cut its target price at the end of April from 155p to 145p, rated hold.

[emptyend] 06/5/2017 18:13

....not so much defending SIA as pointing out that there were, ex-post, plenty of opportunities to lose money by holding companies in the sector over the last 3-4 years.

[lauders] 06/5/2017 01:50

Very true EE. I knew you would come out and defend SIA ;-) Just hope still holding bears some fruit eventually. They say good things come to those who are patient. Well I have been B*#+^y patient. The dividends have helped but they will have to be increased a lot to recover my initial investment!

[emptyend] 05/5/2017 19:17

....not just SIA though Lauders. You could say exactly the same about lots of oil companies.....

[lauders] 05/5/2017 09:12

Thanks for the reply tournesol! Appreciated. Not the action I wished for at SDX today but not surprising given the short term view of many shareholders these days. Mind you if I had a short term view of SIA a few years ago I would not be down so much now ;-)

[tournesol] 05/5/2017 07:23

Lauders

Hi

not yet I didn't

I've got holdings in SDX, HUR and PMG

I had AEX but sold

I'm open minded about SIA but in no hurry.

T