Soco Share Discussion Threads

[nigelpm] 06/12/2017 11:55

Almost getting to the point where bad news has been built into the trading update.

Was going back over the numbers last night - market cap £340m with c.£100m in cash.

Effectively an enterprise value of £240m.

Either :

1) Bad news is coming

2) Market is completely wrong.

[hywel] 06/12/2017 11:49

Under £1, this really is a dog.

[nigelpm] 06/12/2017 11:48

wow - gutted I didn't chuck in a buy order at 98p on the order book - proper taking down move there.

[gregpeck7] 05/12/2017 23:07

At least you had alamaison guys. That clown must provide you with some entertainment.

[emptyend] 05/12/2017 16:51

I asked why last week......the answer is that the 2018 planning OpCom didn't happen as planned in Nov but will happen in next two weeks instead.....following which there will be an update.

[keith95] 05/12/2017 16:34

Due a trading update in November which I'm waiting for ... seems to have been missed thus far this year ... sent an e-mail to investor relations to ask why.

[brwo349] 05/12/2017 14:47

These shares look like they are determined to go below 100p .With oil at a strong price now why is this not roaring ahead? This is a producer after all, the oil price is absolutely relevant. My tea leaves are saying bad news on the way. The share price should be going up not down.

[kenobi] 05/12/2017 10:13

yes indeed ee ! I forget the phrase they used at the time, transformative or step change or something, yet future projections weren't much bigger, (probably largely due to the outage time), but hopefully they'll prove to be conservative, and we'll get a significant up tick in production, at a time when the oil price is as good as it's been for many a year !

K

[emptyend] 05/12/2017 09:43

Re water handling, it must have gone broadly to plan - otherwise there would have been an RNS. However, it is my belief that the announcement of the details is pending an OpCom (postponed by a month for other reasons)....which will set budgets for next year - including production objectives.What I'm most interested in is the current actual capacity to produce!

[stepone68] 04/12/2017 13:48

Looking back at the presentation from April, the first operation date for the water handling was October, so it won't have been up and running for long, if at all.

StepOne

[kenobi] 04/12/2017 13:18

I would like to hear about the new water handling facilities, that it's up and running well, and what production figures are like. It seems like a long time ago they installed this,

hopefully all is well, would be nice to hear confirmation.

K

[emptyend] 04/12/2017 10:49

.....board meeting this week......

[nigelpm] 04/12/2017 10:43

The lack of interest here is something else.

Literally £10k traded on the SETS order book will move the price around 2p.

Of course that does mean any positive news could be met with an extreme move the other way.

Watching L2 it just seems there is literally no interest whatsoever.

[emptyend] 01/12/2017 11:36

It seems to be particularly quiet. The expected update hasn't emerged....and radio silence seems to be the order of the day. I'd therefore be expecting some near-term develoments......I'd like to see the new team getting a running start for January - and actually start to do some proactive promotion, as soon as they have some news to use for the purpose. I think institutions have a good opportunity here to catch a material rerating.

[lauders] 01/12/2017 11:27

flyinghorse1 - So SIA are the expensive bottle are they? Worth holding for the future to mature more and hopefully not turn into "vinegar". Here's hoping that SIA is eventually one of the really expensive ones and I am still around IF that time ever comes.

[flyinghorse1] 30/11/2017 13:09

You can think of many companies 2P reserves like wine. There are cheap bottles and expensive bottles.
They get priced accordingly. The problem with the market is it does not know quality when it sees it.

FH

[robs12] 30/11/2017 12:47

Does anyone know what all the small trades are - seems there are lots in the £100 - £200 range..? Can't believe there are hoards of small investors doing that?

[stepone68] 29/11/2017 16:59

I just used $15 as an example. I agree that it's undervalued if oil stays high, production increases, and we get a reserves upgrade. And a license extension would help :-)

[flyinghorse1] 29/11/2017 16:52

We do need some news on the obvious items we are waiting on to get things moving (The specifics covered in previous posts multiple times).
FH

[flyinghorse1] 29/11/2017 16:48

Stepone68--Where do you get your$15/bbl figure from on 2P.

I think the value for the SOCO 2P/bbl could be on the higher side of your figure given the low production costs and its cash generative ability.
Quite a bit of the 2P went to 2C purely on the back of oil price /forward development program so a reappearance of that would up 2P.
So that would take us back up to £2 adding in cash.

Its undervalued IMHO.
FH

[stemis] 29/11/2017 16:13

So 116p a share for Vietnam plus about 30p in cash and some African assets not really worth a lot (?). Anything else?

[cwa1] 29/11/2017 15:54

Afternoon All

Been out of SOCO for quite a while now but always kept half an eye on it. Today, at 106p, I decided to buy back in. Hoping that a lot of the "bad news" is in the price and that little allowance is currently being made for the positives-both potential and actual.

Fingers firmly crossed for some good news for current, somewhat beleaguered, holders. Good luck.

[nigelpm] 29/11/2017 14:44

At $15 per barrel 2P reserves, around 116p per share, but management wouldn't accept it.

Nor shareholders who ultimately get the final say.

Anyway, the question was :

"how much would they have to pay"

The answer is probably at least £2.

[stepone68] 29/11/2017 14:33

At $15 per barrel 2P reserves, around 116p per share, but management wouldn't accept it.