Soco Share Discussion Threads

[emptyend] 30/10/2017 07:33

Interesting that they say their interest in those blocks pre-dated 2010 by many years......because these must have been the blocks they had their eyes on and then lost to the Russians (I'd never been sure which they were)........so the question is when they will get fresh seismic done? May not be long to wait, I'd guess, with services costs low and cash in the bank. Having visited the nearby coast, I'll be interested to hear more about the geology.....No production update....which suggests a further announcement is likely soon?

[greyingsurfer] 30/10/2017 07:29

RNS here:https://www.investegate.co.uk/soco-international--sia-/rns/new-production-sharing-contract--offshore-vietnam/201710300700049029U/ SOCO is pleased to announce that a Production Sharing Agreement ("PSC") for Blocks 125 & 126, offshore central Vietnam, between PetroVietnam, SOVICO Holdings and SOCO was formally signed on 27th October 2017, awarding SOCO a 70% operated interest over the two blocks. The signing ceremony in Hanoi was attended by SOCO's President and Chief Executive, Ed Story.Peter

[nigelpm] 30/10/2017 07:13

Probably explains Friday's move. Good to see it formally agreed.

[jotoha2] 29/10/2017 13:09

According to ee , we may well have news tomorrow , if it's good then 150 will be hit fairly swiftly , otherwise it's back to sleep .

[bouka1] 29/10/2017 09:37

this solid company has got no debt-- price soon be above 150p-- do your own research

[emptyend] 29/10/2017 08:54

GIGO.....as with every other forecast, eg https://markets.ft.com/data/equities/tearsheet/forecasts?s=SIA:LSE....especially as corporate deals have been flagged (but no analysts have those details).The only important parameter is that the dividend payout will be maintained (both because the board want it and because it is well-covered from cashflow).One other thought to bear in mind is that the first deal done is likely to set the direction in terms of future growth. My understanding is that there are at least two possibilities for that direction....

[lauders] 29/10/2017 06:25

Let's hope this TMF piece from 20th October is "on the button"

Profit growth

Also offering a potential investment opportunity for the long run is oil and gas exploration and development company Soco International (LSE: SIA). The company is expected to grow its pre-tax profit from £4.4m last year to over £21m in the next financial year. This could help to improve investor sentiment in the stock after what has been a challenging 2017 so far. Its valuation has fallen by 27% since the start of the year, with there being little sign of a potential turnaround.

However, with the price of oil rising this year and there being a prospect for a higher oil price in future, now could be the right time to buy Soco for the long run. Investor sentiment towards the wider oil and gas sector may be given a boost if OPEC supply cuts and higher demand cause the price of oil to rise.

The company may trade on a forward price-to-earnings (P/E) ratio of 110, but with its rapid growth prospects it could deliver impressive share price performance. As such, it appears to offer upside potential for the long run.



Is that P/E correct? Seems way too high!

[emptyend] 28/10/2017 21:27

Brent closed at $60.60.......so that means around $63 for realised oil prices (roughly double the lows).Go figure.

[emptyend] 27/10/2017 23:03

Shell shares at a 3+yr high tonight. Oil prices near 2+yr high. Soco near 3yr low. Plenty of room to catch up......the oil that was reclassified in 2015 from reserves to resources is still there (except for the portion that has been produced).....prior to that reclassification the shares were 250p.IMO there could be a quick 30-40% gain by year-end (or sooner).....all that is needed is a sentiment change and recognition that the shares are simply far too cheap.

[fangorn2] 27/10/2017 21:13

Spain and Catalonia.

Independence declared. Spain to invoke Art 155 and annul said Referendum.

Lmao.

Democracy European style.

So glad we're leaving.

Wait for Italy next

In between - Right wing Govt in Austria, Hungary under Orban sticking two fingers up at Merkel's crackpotty Immigration policy.

All gonna come tumbling down.

Thank Christ for that.

[teraferma] 27/10/2017 18:22

I wonder whether Mike Watts is eyeing up a distressed Oilex? He knows the companies assets well through his time with Magna Energy, who are a major shareholder in Oilex. He has good connections in India after his time with cairn India.

[greyingsurfer] 27/10/2017 18:06

As you say, Nigel - a slightly less insane share price

Good to see Brent up over $60 for the first time in a while too.

Peter

[jotoha2] 27/10/2017 16:48

What a nice day , 18 holes on a fantastic links , and soco is starting it's revival!!

[the argus] 27/10/2017 16:03

Strange, after 2 days of getting the "Telephone Orders only" message, when I tried to top up, I can now buy online again - isn't it wonderful what ~£16k of Director buying can do! :)

[nigelpm] 27/10/2017 15:17

The price was completely insane, it's now just reasonably insane. ;-)

[emptyend] 27/10/2017 14:51

It seems I'm a bit better at spotting buying opportunities than selling opportunities.......;-)

[emptyend] 27/10/2017 14:40

....good job we have assets in a nice stable country like Vietnam and not in an unstable country like Spain......;-)

[nigelpm] 27/10/2017 11:39

Actually, perhaps I was a little unfair earlier - when these people keep posting drivel and come out of the woodwork it's usually a pretty darn good buying signal.

[nigelpm] 27/10/2017 09:54

The bit that always gets more is why they bother. They are just wasting their time particularly as most of us have them filtered anyway.

[emptyend] 27/10/2017 08:47

I do love these people who totally make it up as they go along and then play with the facts to pretend they were all-seeing.In my case I admit to my last three years of over-optimism about an oil price bounce-back and the consequent lack of progress on all fronts at Soco (as at most other companies in the sector). I got it wrong.Looking forward, prevailing "market wisdom" seems to suggest that the oil price will move up to $70-$80 over the next 2-3 yrs, but no further. Perhaps. But as interest rates rise and reverse the virtuous circle for shale drillers, I wonder when the consequences of deferring hundreds of billions of dollars in industry investment will show up in a supply shortfall......my money is still on 2021/2 for that, especially if geopolitics continue to hold things back.Meantime note that the new development team here seems to be being paid a big chunk of compensation in the form of shares.......so at least some have benefited from the low share price. Why would they put in £0.5mn in February and agree to a deal that starts paying them in shares after 6 months, I wonder........;-)I think the three year outlook is pretty reasonable here - and hope we'll start seeing the shape of things to come quite soon....

[nigelpm] 27/10/2017 08:12

ha ha - that's the best line ever.

[jotoha2] 27/10/2017 08:06

This is the wrong thread for your Ambulance chasing habits.

[buywell3] 26/10/2017 19:22

my timing re FTSE might have been a couple of weeks off

but soco to 100p looks about spot on






buywell317 Sep '17 - 18:30 - 19829 of 19981 1 0 Edit
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

[emptyend] 26/10/2017 19:05

Brent is now over $59.The average for H1 Brent was $51.80.H2 production will clearly be lower, thanks to shut-ins.......but going forward from here revenue should be pretty robust. Just how robust? I hope we get some clues on that shortly, with a production capacity update.

[ed 123] 26/10/2017 17:15

Thanks, Jotoha2. :-)

I hope the update will be good for you. :-)