Soco Share Discussion Threads

[nigelpm] 20/9/2017 09:22

It's a real shame IMHO that a public meeting should not available to all shareholders who for whatever reason might not physically be able to get to the location.

[emptyend] 20/9/2017 07:58

That might be your thought. My clear view is that it is an unrealistic can of worms......and, inter alia, would lead to a less informative event, rather than the reverse.

[kenobi] 19/9/2017 18:48

what ? are you kidding ?

other companies make videos of agms and post them online don't they ?

The company has complete control to edit out anything they like, but having been at the agms, all of them where the wwf and others turned up, there's absolutely nothing that can't be shown anyway.

As far as no upside, well I'd consider it quiet valuable to not have to go, and just watch remotely, or to be able to look at last years agm before this years agm. I appreciate at times there might be people who would like to forget what was said at previous agms. Thing is, it's for the shareholders, and while the management are significant shareholders why shouldn't there be a record of what was said ? and the q&a, not just the slides ?

Anyway, the days of contested developments seem to be behind us, SOCO have little interest in Africa anymore so is that a real concern ?

[emptyend] 19/9/2017 15:47

On your specific point about recording AGMs Kenobi, I'm afraid that simply isn't a real world suggestion. As you well know we have had AGMs in the past attended by people who were trying their best to damage the company and its shareholders. Your suggestion is tantamount to allowing an unsupervised fox into a hen coop - you can guarantee that there is no upside for the company or its shareholders.

[emptyend] 19/9/2017 15:44

Everyone had the option to attend the AGM. And as everyone here knows the presentation was up on the website before the AGM had finished. Additionally various people commented on it here.............so there is nothing that should come as a surprise to anyone who was paying attention.Of course, as we know, people often don't pay attention and they don't ask questions. But whose fault is that????

[kenobi] 19/9/2017 14:52

yes I agree, I did ask this year why they don't video the agm, and make it available on the internet, They even say you cannot use recording devices in the meeting, why ? Everything said there should be on the record and in the public domain.

K

[flyinghorse1] 19/9/2017 13:48

Its fine saying if at Agm you would know the plan. Why can't they just tell all shareholders up front not just agm attendees - surely it's all public domain

[nigelpm] 19/9/2017 10:30

Had my "final" top-up this morning. So much of the valuation is covered even under oil remaining at $50 for the foreseeable. Quite simply one of the best value stocks in the E&P space. As ee says we'll see but like Brexit I suspect the outcome will be much better than most believe.

"final" - because I've got what I want for now. I consider myself lucky to have got these prices.

[emptyend] 18/9/2017 23:12

....its up to you. But I don't report fiction. Anyone who attended the AGM knows the plan.

[lauders] 18/9/2017 22:53

Believe it all when I SEE/READ it EE. SIA has been a serial disappointer for too long now and needs good news to change momentum. Too quiet for too long and hence the market has lost interest in them. Might make them a very decent buy now mind, especially if what you report is true, but I have already lost enough here to convince me not to average down.

[emptyend] 18/9/2017 21:10

One or two people have suggested that the lack of comment about the dividend suggested some uncertainty over it.

So I asked. And apparently someone asked at the analysts meeting too. We all got the clear response that sustainability of the dividend is paramount......so that should be a tidy yield for holding for 6-9 months.

I also believe that one of the corporate deals flagged at the AGM is now quite close at hand....which could be pivotal for sentiment. A good chunky deal with decent assets and perhaps some management would set us back on a growth path (are you reading, John? Decent entry point right here?), especially with TGT production resuming shortly with the new water handling kit.

ee

[buywell3] 17/9/2017 18:30

Yes the results ... not so good and the market does not seem to be very impressed

The way they read it looks like the dividend is under threat

Also what about this Deferred tax liability of $157.8m at 30 June 2017 ?

At some point this will have to be paid .... to who and when ?

Chart has now dropped through previous bottom 5 yrs support level ... not good



Make that 10 yrs support gone




OK here is how I see it

The FTSE 100 is now under pressure on a couple of fronts

£ is getting stronger
Boris is rocking the boat
UK property market has started to fall
Carney is talking about a rate increase coming

All above = Uncertainty = FTSE 100 drop coming

In fact it is now underway

IMO FTSE 100 will see 7100 next week
FTSE 100 will see 6750 within 3 weeks to 4 weeks

Re OIL

Any weakness over the next week to 2 weeks that coincide with a general FTSE 100 slide is going to hurt OILIES harder due to the double whammy effect

Re SOCO

Unfortunately for SIA the present situation catches it with its pants down in an embarrassing position at a 12 yr Chart low

100p could now equate with the FTSE 100 hitting 7000 IMO

2004 support of 75p could be tested IF the FTSE does hit 6750 as I think it will


dyor and GLA

[fangorn2] 17/9/2017 13:44

In case anyone interested & not seen.

Soco International PLC 2017 Q2 - Results - Earnings Call Slides

[greyingsurfer] 14/9/2017 14:58

I agree, Nigel. If PoO remains at mid 50s (and of course it may not - it may fall back post storms) the reaction of shale will be interesting. Will the message that shale investors have yet to make any real money have begun to sink in, or will more capital get sucked in?The other interesting thing will be can shale prove that it is the new swing producer? Are all those wells that we're told are ready to start producing at short notice, and little investment, really going to prove to be there and able to respond to rising prices?I suspect many will be disappointed, but I would also doubt that shale has yet lost all its glitter, and so there probably will be more money coming in, and your prediction that $60+ is likely not to be exceeded just yet is probably correct.Of course, if one of the many possible wars breaks out all bets are off, in either direction.Peter

[kenobi] 14/9/2017 14:24

There may be some kind of security premium attached to oil for a while, there's an article arguing that war is coming in the middle east this am,

don't know if there's anything to it, we'll see, I'm surprised it's not falling given the gloom and doom and talk of electric cars, perhaps it's going to suprise on the up side for a while ?

Indeed it will be interesting how the shale industry is able to react.

K

[nigelpm] 14/9/2017 12:51

The POO is going to be interesting. Will shale come steaming back into business here - from what we've been told it SHOULD do. Doesn't mean it will of course.

I don't see much above $60/65 - in fact I think that's a stable area for now.

[emptyend] 14/9/2017 10:25

...$55.44 this morning.......looking strong? Breakout looming?

[buywell3] 13/9/2017 20:33

One would expect that after SOCO has done all the investment and work and OIL is flowing ... albeit at reducing world prices due to oversupply as Electric cars roll off the production lines in 2018 in ever increasing numbers.

One would expect that the countries in the far flung places SOCO have decided to drill
will then want a bigger piece of their commodity action ... or else

This applies in Africa as well as Vietnam and just about all other Asian and South American countries.

Risk is the name of the game

China is a huge wild card which could trump all else.

[nigelpm] 13/9/2017 20:13

April 17th.

[emptyend] 13/9/2017 16:31

.....ps.....Brent now over $55 for the first time since Lord knows when.............only another $50 to go ;-)

[emptyend] 13/9/2017 16:10

Doubtless we will get chapter and verse when the formal signing takes place. I wouldn't expect them to keep repeating terms for an agreed deal every time they mention it.What I am more interested in is the reason for the delay in signing. Everything was finally agreed in August and yet the formal signing date hasn't yet been nailed down ("October or November"). Why not? Does something else have to happen first? If so, what?

[kenobi] 13/9/2017 15:42

ok, well hopefully you're right ee,

Interesting that not stake is mentioned today,

btw for anyone interested you can see the slides here

[emptyend] 13/9/2017 15:27

Kenobi, You seem to be doubly disappointed but for no good reason. The Annual Report stated a 70% stake and there is nothing in today's interims which suggests otherwise. PV would always be involved in any negotiations and SOVICO owned the previous seismic.

[kenobi] 13/9/2017 14:46

I am disappointed to read,

"Following the 2015 signing of a Memorandum of Understanding, SOCO received approval from the Vietnam government in May 2016 to enter into formal negotiations with PetroVietnam and SOVICO Holdings over a Production Sharing Contract ("PSC") for Blocks 125 & 126, offshore central Vietnam. These discussions are complete and the PSC was approved by the Vietnamese Government and Prime Minister in August 2017. Formal signature of the final PSC is being arranged and is anticipated in Q4 2017. The capital expenditure for 2017 includes the purchase of existing seismic data for Blocks 125 & 126."

I don't know if I'm the only one, or I misunderstood, but I was under the impression that the ownership of 125 126 excluded PV and left soco with a big share of the block in the region of 60 or 70 %.

Is PV now involved, and does that push us down towards the more typical 30% ?

If so I'd be interested in the terms, is this a free carry,


K