Soco Share Discussion Threads

[ed 123] 07/12/2017 14:46

Hmmmm .... We're all different. I don't see today's rns as being 'very positive'. The market is waiting for news on TGT production. The uncertainty is allowing the share price to fall. An rns about a new Deputy Chairman is nothing of any value and, as I'd said with the North Cabinda rns, it serves to highlight the missing news. Result? ....... the share price takes another step down.

.... and on the subject of 'step down', an rns stating either the Chairman or Chief Exec had stepped down would be very welcome.

[dealer1972] 07/12/2017 13:51

Hmm you do realise buywell that to power a fleet of 20 Tesla trucks requires a power supply big enough to power Cambridge, and that's just at one distribution centre? It'll be decades until the uk and indeed the world has the infrastructure capable of supporting all electric vehicles!

[nigelpm] 07/12/2017 13:43

Note in RNS:

"I am delighted that Rob has accepted the new role of Deputy Chairman. His specialist commercial, governance, investment and entrepreneurial skills and experience have added essential value to the Board for the last four years. His new role provides additional strength to the Board as we focus on strategically reshaping the business, growing our portfolio and continuing to deliver substantive value to shareholders.

Very positive.

[haideralifool] 07/12/2017 09:44

As long as Trump is in the White House, non-ME sources of oil supply are a good place to be.

[ghhghh] 07/12/2017 08:39

buywell

Electric cars and renewables will kill off oil in the medium term but not within next 10 years.

Over this period we will see how still rising demand is satisfied by Shale and finally, the real impact of long lead time RoW CAPEX cutbacks reducing supply.

Shale investors now seeking ROI rather than increasing production

Producing oil companies with no debt look attractive in such an environment, able to immediately benefit from oil price spikes. I don't want to see Soco buying anything CAPEX intensive unless rapid payback and good IRR at $50.

[nigelpm] 07/12/2017 08:09

More games being played. 5k shares wiped from the L2 order book first thing - takes the bid down to 97p before almost immediately recovering.

[buywell3] 06/12/2017 18:24

Firstly I would like to point out that I am the only poster to have called this share correctly DOWN from around 300p and above , for around 3 years or so.

Secondly I am the only poster to have called OIL to below $50 on this BB from around $100 again some 3 years or so ago.


OIL has been pumped back up to over $60

Electric cars and Lorries is going to kill OIL demand off

OIL companies and big funds are now rotating out of OIL

Thus I think the thread header has been very aptly chosen

SOCO - The Endgame

[flyinghorse1] 06/12/2017 17:11

Digging around in 2016AR for substantial shareholder info found the following for 2017 objectives -note 40% weighting on "portfolio diversification"
on pg 80 in case it does not come out legible.
(note in 2016 they achieved 35% of a possible 100% award)

ANNUAL BONUS
It is intended that annual bonus awards will be considered for Executive Directors in December 2017. The maximum total bonus opportunity is 150% of
salary, including cash and deferred components in accordance with the approved policy. The table below sets out the weighted performance measures
which will be applied in determining annual bonus awards for 2017, and identifies the link from each of these measures to our core strategy of:

BUSINESS DEVELOPMENT & GROWTH 40%
Diversification of asset base 40%
SOUTHEAST ASIA 30%
Production 10% Programme objectives, budget and sensitivities.
TGT development programme 15% Programme objectives, milestones and budget.
Blocks 125 & 126 5% Project milestones and budget.
AFRICA 10%
Africa portfolio programmes 10% Programme objectives and budget.
CORPORATE 20%
Sustainable return of capital 10% Strategic objectives for balancing growth, capital discipline and shareholder
returns.
ESG performance 5% ESG scorecard of goals and KPIs.
Financial asset 5% Monetisation measures.
TOTAL ASSESSMENT 100%

[alamaison5] 06/12/2017 16:10

Lets watch that closing price then. No rush...

[nigelpm] 06/12/2017 15:59

Might already hold plenty to fulfill it - in fact I'd be sure they do.

[alamaison5] 06/12/2017 15:44

17,000+ shares bought on O trade at 102.50p. MMs selling share they do NOT how. Now have to buy them back, lol.
How about this for confidence?
BID went straight up, lol.

[alamaison5] 06/12/2017 15:27

I am starting buying. £2500 tranches every 5%, up/down. This has been played and will soon rise.

[redhill9] 06/12/2017 14:15

If the dividend is indeed sacrosanct (at existing level) then Soco is currently worth buying on yield alone.

[ed 123] 06/12/2017 13:29

Ha, indeed! Bought OPHR around 65p. Today it's 61p. I'm a slow learner!

[nigelpm] 06/12/2017 13:27

Blimey OPHR and now SIA Ed - careful.

[ed 123] 06/12/2017 13:24

Not much I can add to earlier posts other than to say that I bought some Soco shares today.

I had been seeing a possible fall to under 100p and it arrived.

I wish I could be enthusiastic but I can't. There may indeed be something behind the share price drop. I don't know. Certainly not advising anyone to follow me.

For me, this is a punt that the news, when it comes, won't be that bad.

Good luck to all.

[emptyend] 06/12/2017 13:23

....fair enough in theory, except they have no idea what "major change" will occur......except that it is totally clear that the focus is on development (as made clear at AGM) ......and that the dividend is sacrosanct......so basically no "major change" at all, save for building a clear path to growth of production, cashflow, reserves etc etc

[nigelpm] 06/12/2017 12:52

Certainly - clearly some might not be happy though with a major change and perhaps they are making their voices heard by selling.

[emptyend] 06/12/2017 12:42

......I was trying to be polite. The Continis (2/3 of whom are 100% passive), the Maugein estate (100% passive), the Cagles (retiring), the Story (73) would neither be sellers near current levels nor buyers of the rest. Brown & Watts won't be sellers either - and probably wouldn't have the financial capacity to buy out.....though of course now it isn't a massive task to take out the 50% held by outsiders. The question I'd have would be what advantage there would be as a private company instead of a public company? The only one I can see would be offloading moaners.I'm aware there is a clear intention to do deals and then promote the new strategy. I'm certain that all those referred to above are content with the strategic direction (that is likely being finalised as I type) so I see little reason why we and institutions wouldn't be too.

[nigelpm] 06/12/2017 12:29

Improbable - for sure, an outside chance.

On a +ve watching the L2 there's plenty of buying support around £1 so some more than happy to scoop up here.

[emptyend] 06/12/2017 12:22

Improbable, Nigel........most of the shares are now held by people who are content to be sleeping partners at this stage of the game. They are much more interested in exit than entry.

[nigelpm] 06/12/2017 12:16

"less than zero" - that suggests they have been trying to keep the price low.

an MBO surely isn't out of the question here - possibly the worst outcome for minority SH'ers though.

[emptyend] 06/12/2017 12:13

....thought what I would say is that there has been less than zero effort made to "sell the story" - in part because it is still being proofread. That will change very very soon indeed.......

[nigelpm] 06/12/2017 12:12

Just don't feel brave enough to add more - shame as I'm sure you're right but I've got plenty.

[emptyend] 06/12/2017 12:10

Just on that point Nigel, remember that Jann & Mike loaded up at 150/160 in February - and have been taking a chunk of comp in shares. The market is wrong. Period.