Share Name Share Symbol Market Type Share ISIN Share Description
Soco International LSE:SIA London Ordinary Share GB00B572ZV91 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  -3.60p -3.64% 95.40p 1,829,634 16:35:09
Bid Price Offer Price High Price Low Price Open Price
98.10p 98.70p 102.40p 96.70p 99.10p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 115.6 -96.0 -35.3 - 316.68

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Date Time Title Posts
23/6/201821:31SOCO - The Endgame21,303
23/10/201714:55SOCO INTERNATIONAL32
18/7/201709:26SOCO INTERNATIONAL - Stifled Development151
17/3/201123:19Libya news23

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Soco Daily Update: Soco International is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SIA. The last closing price for Soco was 99p.
Soco International has a 4 week average price of 96.70p and a 12 week average price of 91.50p.
The 1 year high share price is 129.80p while the 1 year low share price is currently 87.60p.
There are currently 331,954,643 shares in issue and the average daily traded volume is 422,721 shares. The market capitalisation of Soco International is £316,684,729.42.
ed 123: Richalert. I think the Cagles hold about 8 million shares together, so probably not them? More likely might be Patrick Maugein (former Chairman and holding through Chemsa) with 24 million shares? Another candidate might be Ms Caterina Van der Westhuizen, who holds 27 million shares through Blue Albecore? Emptyend, reference your post 21297, the liquidity comments at the agm were not about the difficulty of building up a holding, they were about two shareholders who wanted to sell. Obviously they can't sell big numbers of shares without a counter party to mop them up. The liquidity issue concerned the absence of sufficient buyers. That should speak for itself, anyway. If there were more potential buyers than willing sellers, then the share price would have been squeezed upwards, not down. Unfortunately the Board can only look at themselves if there is little market interest in buying the shares. The Board presided over (broadly) failure in Africa, failure to take advantage of their strong balance sheet when the oil price was low, and falling production. That is why the share price is about 100p and no institution is stepping in (afaics) to take up a significant holding. After a serial underperformance it is understandable that potential buyers are holding off.
ed 123: Ta, Emptyend, however that 25-30% production increase needs to happen to justify the current level of reserves (assuming 7.5 years left). So, more risk to the downside than the upside perhaps? Conclusion? If there is to be an upgrading of the share price it's unlikely to come from their existing producing fields. 125/6 Exploration well might be a couple of years away. Therefore, attention turns to deal making. So far and despite the distress of some potential asset sellers in 2016, Soco hasn't completed any recent deal. That doesn't inspire me with confidence going forward. It's not impossible but it feels like a roll of the dice situation for any share price upside.
tyler19: Absolutely, the share price movements of oil companies remind me of 1999 when it was all doom and gloom on the outlook for oil. At the time the tech stocks were booming and overall market was heading into a bubble. Soco share price was volatile but as soon it was obvious that the oil market was tightening the share price took off on a very steep rise. If you were able to top up during the volatility you did extremely well. I see a similar repeat here, although not the same magnitude. as the company market cap is much larger now. Still a 10 fold increase is very plausible, as obsurd as it may sound at this moment in time. Good luck.
emptyend: Just to finish off with whole day stats for the comparison with PMO: Over 70x as many PMO shares traded as compared to SIA. Share prices now near identical, so say 65x the sterling amount traded for PMO vs SIA.And yet the market cap of PMO is little more than double SIA's (partly because they have a big chunk of debt).This suggests to me that the market is getting "risk on" again for oil shares and buying the leveraged bets first.
pumph: I doubt oil will go to $300 either but on current/recent trends would imagine it would take the SIA share price to about £1.40...
dunderheed: Empty I thought you had me filtered?! Of the last 3 oil companies I worked for 2 had the share price as part of their kpis in relation to a pre defined peer group!! The other wasn't listed!! It is a standard kpi for oil companies mate. Of course the share price is something that should be owned BY EVERY staff member of any listed company hence is nearly always part of the corporate kpi's for oil companies ! LOL!! If the company you worked for came out bottom of a comparator share price group of peer companies DO THE MGT HAVE NO CONTROL OVER THIS. Come on??!! LOL LOL. EDIT I didn't refer to the other three before these three because this is too long for me to remember. However suffice to say the three I was referring cover the last 15 years!!
emptyend: I don't quite see it like that Lauders. I will be reading the Remuneration report quite carefully and comparing it with other companies - but my concerns are:a) quantum of management packagesb) that there seems to be a reward for reducing the share price, in that the share awards are made by value. So the failure to execute any transformative deals in the last year (and indeed the writing-off of assets that they might have sold but didn't) has actually resulted in more of the company passing to the execs. That seems to me to be wrong in principle.More fundamentally, I note that the company claims to be "Poised for Growth" in its prelims headline. Not for the first time, I least in tone. We have now had about six years of this "yield of a major but with growth" pitch......and we have now had c.18 years of "Recognising opportunity........Realising value". In both cases the ordinary course of business stuff has mostly been delivered and one cannot complain at the yield since 2012 (albeit partly facilitated by a falling share price)......but where is the growth? Where is the recognition of opportunity (other than in VN 125/6)? Where is the realisation of value?.......there have been more write-offs than realisations!A year ago, the company had a strategy reset and focused on doing deals. Well where are they? Deals aren't easy - but if the company sets a strategy based on doing deals, and then does none, what are shareholders supposed to think? One thing they certainly won't think is that management should be rewarded for failure.I'm a very patient investor. I've held the shares for 19 years now. Overall I have no complaints, of course, especially in the first 10 years.....and even through to the oil price fall in 2014. But the company seems to have completely lost its way since then.....and I am growing impatient with the lack of forward progress, the lack of evidence of "Recognising opportunity" or "Realising value"....and indeed the lack of growth!Obviously the oil price fall in 2014 needed substantial adjustments. But these seem to have continued to be value-destructive, even after the 2015 shock had been dealt with.....and that is a considerable disappointment. It is all very well "clearing the decks" and getting set to move forward.....but shareholders DO need to see progress - and there doesn't seem to have been any.Incidentally, Nigel, on checking back the auditors confirmed that it was a company decision to move their accounting policy to successful efforts. I remain interested as to what prompted that.
lauders: FWIW - I received a free share tip in my inbox about SIA from "Five Free Share Tips" ( Https:// ) on 15th February which I have just noticed! The author/"tipster" is Gary Newman. Interesting to read it now the news on Kuwait Energy is known: When SOCO International (SIA) announced a possible merger the market seemed to take the news well, but ever since then the share price has been on the slide and it looks like this could be a good buying opportunity. The announcement in early January that it was considering a possible merger with privately owned Kuwait Energy – which would constitute a reverse takeover - caused the share price to rise to around 130p, but since then it has dropped dramatically and is now trading at pretty much a 12 month low at just over 90p to buy. Any deal was still very much at the preliminary stage and the announcement was triggered by press speculation, and as yet no details have emerged of exactly what terms a merger would entail. But for it to go ahead it would have to be in the best interests of shareholders. Kuwait Energy certainly looks interesting though, as at the end of 2016 its 2P reserves stood at 810mmboe and it had net daily production of nearly 27,000boepd from its producing assets in Iraq, Egypt, Yemen and Oman. It is though also carrying quite a lot of debt on its balance sheet, and at the end of September 2017 it had a convertible loan of $155 million as a current liability, as well as longer term borrowings of $246 million. It is at least now profitable though, having made nearly $12 million over the nine months prior to that date, and having recorded losses previously. The size of the reserves, plus the additional potential from exploration and further appraisal, does suggest large future upside potential though, and the company has just agreed a $100 million farm out of 15% of its Block 9 in Iraq to Dragon Oil, reducing its interest to 45% overall. There is little point going into great detail on all of its assets though at this point, until there is further news as to whether a deal is even being seriously considered. Potentially though it would seem to be a good fit with SOCO, which will be looking to boost its production and is currently debt-free and with cash in the bank – at the end of 2017 cash stood at over $137 million. Production averaged just under 8,300boepd during 2017 from its assets in Vietnam, but isn’t forecast to be much higher during the coming year – although that will depend on further drilling at these producing fields (Te Giac Trang and Ca Ngu Vang) and is enough for the company to continue to perform well in a climate of higher energy prices. It does also have assets in the Congo and Angola but these are still at the exploration and appraisal stage, and although they have plenty of potential any production will be further down the line, especially in light of the recent decision that the Congo is no longer a core priority for the company. The company is doing well from its existing producing assets, with cash costs of under $14/barrel and having achieved an average sale price of $56/barrel last year, so if the oil price stays at current levels this year should be even better. It has also been paying a dividend – 7p in total for 2016 – and the level for 2017 will be announced in March when it publishes its preliminary results. Any similar sized dividend for 2017 would give a very nice yield given the current share price. This is the type of company that I would be prepared to take a chance on at the current share price, as even without any merger it looks to offer good value and plenty of future upside. Should a merger go ahead and be on good terms – I doubt that it will be accepted otherwise given that SOCO has the cash and listing, which Kuwait Energy needs – then I would expect things to work out well for holders at the time.
ed 123: A bit more or less at Cabinda is not material, not going to make any difference to Soco's share price. It almost hurts the share price as people will think they've got nothing else to sing about. Closing auction uncrossed at 109p, the day's low. Efficient market at work again. A series of failed projects, lots of unfulfilled hopes, past problems with the partners on their major asset, nothing near term (and that includes the TGT water handling kit) to lift sentiment = share price disappointment. Soco's share price is at 109p for good reasons. Needs new CEO and Chairman, imo. Needs personnel and projects that give hope for the future. There need to be reasons for potential investors to buy the shares. Atm, there's nothing.
jotoha2: Based on that , sia share price should be around 170p , but then of course it's not TLW !!
Soco share price data is direct from the London Stock Exchange
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