Soco Share Discussion Threads

[invisage] 27/12/2017 13:15

Soco is a bargain here because of rising oil price..

[nigelpm] 27/12/2017 08:18

Yup, couldn't resist more at 105.75p - Merry Xmas!

[brwo349] 27/12/2017 08:05

It's up more than a tad. US crude a smidgeon under $60 and brent crude at $67

[emptyend] 26/12/2017 23:17

....oil price up a tad today.Maybe looking silly cheap soon........

[patdavey] 25/12/2017 00:14

Waves will be rather high in the Cuu Long basin just now as Typhoon Tembin passes through: hxxps://www.wunderground.com/hurricane/western-pacific/2017/tropical-storm-tembin

[lauders] 23/12/2017 11:42

Well I certainly hope that the highlighted parts of the text below from the last results actually give some substance to them so you may well be right EE. We have waited long enough and 2018 may be an SIA year!

Ed Story, President and Chief Executive Officer, commented:

“Underpinned by financial strength that has endured low oil prices and harsh macro-economics, whilst delivering sustained cash returns to shareholders, our tenacity was rewarded on many fronts in the first half of 2017. The $42.7m payable associated with the 2005 sale of our Mongolia assets was recovered in full, whilst in Vietnam, the TGT Full Field Development Plan was formally approved, additional water-handling construction commenced and development infill drilling was completed on time and within budget. In Congo (Brazzaville), favourable terms on the Lidongo Permit were achieved, with potential for three further permits to be agreed. We remain confident that, as we focus on strategically reshaping the business and growing our portfolio, we will continue to deliver substantive value to shareholders.”

The there is this part:

Transformational business development involving growth and rationalisation of the portfolio

[emptyend] 23/12/2017 11:23

Just a final pre-Christmas thought that came to me in the shower...........perhaps the fact that a pre-close update is being used (rather than a belated mid-period update as per IMS timing) might indicate that a reserves update could be included? Obviously the basic reservoir data is well understood and could be re-run at any time.....but we now presumably have several months operation of the water-handling and we now have an agreed plan for next year's work programme on TGT, as well as the FFDP that was agreed earlier in the year. Accordingly it should be perfectly possible to produce a reserves estimate that correctly classifies known resources (as at year end) in very short order? And such an update should surely reclassify at least some of the 2C downgrade from 2015 back to 2P?Furthermore, if a reserves update is available by the second half of Jan, then that throws open the possibility of corporate deals being done on the back of it. I'd like to think that we'll see some strong upward momentum in January.....

[lauders] 23/12/2017 08:04

tomfoolishly2 - Your idea may not have been a "foolish" as one thinks:



What does this say about Bitcoin and cryptos?

[emptyend] 22/12/2017 10:00

If we could have seen into the future we'd have sold three years ago and probably have just bought back in. Sometimes opportunities are spotted and sometimes they are missed.......this one has been relatively expensive but all is not lost, IMO......I console myself with the thought that I'd have only done something stupid with the sale proceeds.....and with the fact that my other main holding has mostly been moving in the opposite direction.Hope everyone has a good Christmas!

[nigelpm] 22/12/2017 08:58

Get set for a big January then. Lots of potential upside here - to be fair I did say the same thing this time last year and all this year.

At some point a broken record will be right though!

[emptyend] 22/12/2017 07:39

FWIW I understand that the meeting in Vietnam has occurred and that a pre-close statement is planned for mid-Jan. So that is TGT guidance, production update etc....I'm still waiting for corporate developments (effective at year end?).

[buywell3] 20/12/2017 20:28

Holders here better believe that OIL is going to hold over $60

That is in the face of USA fracking ... which should now get a Trump push in the new year

Plus a UK fracking push by the Government to make us Brexit OIL EU independent

Plus Electric car manufacturers falling over themselves to get their products to market as fast and as competitively priced as possible to win FIRST market share

99p by end of 2017 anyone ?

Happy xmas

[sparrow357] 20/12/2017 17:00

As a long time investor & sufferer (& lurker) in Soco,
mostly having bought at the top -
Its good to see Ed123 isn't perfect either (schadenfreude I know).
Sorry about that.

[nigelpm] 20/12/2017 16:50

Just on that point there's definitely an argument that core stocks backed by good fundamentals are trading quite cheaply at the moment.

Certainly a good chance "hot money" is messing around with Crypto and tech stocks.

[jak1] 20/12/2017 16:43

Do it, ill buy some. Cant go wrong in this market...

[tomfoolishly2] 20/12/2017 14:38

Announcing "SocoCoin" would perk the share price up a bit.

[emptyend] 19/12/2017 16:15

As I've said repeatedly, installing a piece of kit that shareholders have been told will be installed is not news. It is ordinary course of business - and would therefore be covered in the next general update. I know full well from elsewhere that shareholders would like to see a constant stream of information (whether material or not) but listed companies simply cannot keep pumping out info unless there is material news.A failure of the previously-advised installation would, IMO, be material news.....hence I'm relaxed. A stunningly success of the installation would only be immediately reportable if that translated into a production rise....and, as repeatedly explained, it seems that must await the budget agreement.I agree that it has been better in recent years to be a pessimist rather than an optimist......but being a realist is probably better than either. In the real world, proper companies only report news (other than in the semi-annual reports) that is considered material.

[kenobi] 19/12/2017 15:10

None of the good things seem to preclude putting out info in a normal timely manner, the bad things like, the kit isn't working as expected for some reason and we need to agree what to do next, well they seem to preclude putting out an interim message, but I hope I'm wrong !

It's human nature to be quicker to put out good news, or to put off bad news until it can be mitigated, (as well as common sense). There may be some other reason, I have no reason to wish bad news, I'm just more cautious, sometimes I've been proved right to be others not.

We'll see,

K

[emptyend] 19/12/2017 13:25

Why would any of this stop a routine message saying that the kit we told you at the agm would be transformational for our water handling facilities is installed, seems to be working well ?.......It's great if you were told this, however does that really justify not putting out news about this ?That is a fair question.All I was told is that nothing can be said until after the PV meeting. It is a matter of complete conjecture as to why that might be - and we could doubtless come up with a vast range of plausible scenarios......some very good and some bad. My central scenario is that they want to be able to include things like 2017 exit production rates and agreed production objectives for 2018 (based on agreed capex budgets). But you could postulate other things, such as reserves changes, licence extensions, corporate transactions/changes.......or a failure of the water handling work. Or various other scenarios.

[lauders] 19/12/2017 11:48

For whatever reason(s) the BOD don't seem interested in generating "interest" in the company at the moment (for a while actually!) kenobi. So I guess we will just have to wait until such time as they are ready to release any news although I thought they were bound to release certain news when it was known. Taking a mighty long time to decide whether it is significant enough to release IF anything has been going on, which we all sure hope has been!

[kenobi] 19/12/2017 11:11

Why would any of this stop a routine message saying that the kit we told you at the agm would be transformational for our water handling facilities is installed, seems to be working well ?

I'm sure you could package that news up with all sorts of things, obviously there might be decisions at the PV meeting, if it were drilling result?

It's great if you were told this, however does that really justify not putting out news about this ?

K

[emptyend] 19/12/2017 07:01

Re "expecting an update for weeks" I made it clear some weeks ago that the meeting expected in November had been postponed by 5-6 weeks because the PV people couldn't do the date planned. Perhaps that was because of the listing activity going on with PV subs in VN?

[emptyend] 19/12/2017 06:59

I would have thought the kit is installed and production has risen to level xxx, we estimate that we could now handle x and y production based on mixture of oil and water at the different points.After all for at least two years they've been telling us that the system is maxed out by the amount of water, so surely if the kit was working there would be a material increase already, even if that didn't tell us anything about the maximum capacity they might expect to get ? (because this will depend on the water/oil mix at the two water seperation points),I would hope we would be in the situation where water is no longer a factor in liquid processing then we could look at opening up new zones to add oil capacity,That is my point though. I'm absolutely certain we'll get told what the system can handle etc.......but we've already been told it will de-bottleneck and so we can and should presume that the installation has gone roughly to plan. In the short term nothing has changed, therefore there is no news that the market isn't already aware of. The key to triggering news is what happens next....Of course of they were wanting to release some "not really news" and encourage the market, then they could perhaps justify doing so - but they are plainly not interested in doing that at least in the short term. If you take that view then the pertinent question would be "why not?"

[kenobi] 18/12/2017 21:54

well how long do you think it's been ? we've been talking about expecting a update for weeks here, I don't suppose this talk started until after a few weeks, it's certainly well beyond the point we'd expect to know something surely ?

[stepone68] 18/12/2017 21:28

It's not been in for months, though has it?