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
  -1.60p -1.82% 86.50p 271,337 16:35:26
Bid Price Offer Price High Price Low Price Open Price
86.60p 87.00p 89.10p 85.70p 89.10p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 115.65 -95.95 -35.32 287.1

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Date Time Title Posts
18/10/201817:55SOCO - The Endgame21,843
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 88.10p.
Soco International has a 4 week average price of 80p and a 12 week average price of 80p.
The 1 year high share price is 129.80p while the 1 year low share price is currently 80p.
There are currently 331,954,643 shares in issue and the average daily traded volume is 281,270 shares. The market capitalisation of Soco International is £287,140,766.20.
lauders: Not exactly my favourite source of information which is why I don't subscribe, but....Https:// Sometimes it is hard to fathom why a company with strong fundamentals continues to be unloved by the market, and for me that is very much the case with SOCO International (SIA) at the moment, and has been for some time now. Lately the share price has slipped and is now trading at around the 88p level, and whilst it has bounced around 10% from the recent low of 80p that we saw, it still seems incredibly cheap at a market cap of just over £300 million, especially when you consider the current strength in oil prices. Gary Newman, the author, has always been a SIA bull from what I know. Now if SIA were to just let the market know about ANY good news via an RNS perhaps the share price would react?
emptyend: Feb 2017: Brent $56 ......SOCO share price 160pOct 2018: Brent $87 ......SOCO share price 88pReally?....cheapest share in the sector?
ohisay: EE Of course it was certainly a conscious decision of SIA to walk way from the Kuwait deal but my comment was based on the immediate shareholder/market reaction. After SIA acknowledged it was in discussion the share price jumped 10% to 125p . Here on the latest deal its drifted down almost 10% from 88p. Crude sentiment I know but maybe it reflected a feeling with Kuwait that there would have been more upside in being linked to a larger /more diversified group.Maybe there were good reasons to walk post DD, I dont know. I note that Kuwait were trying to get an IPO away last year at 1 bn$ and its now gone for 650m$.Personally I would have preferred Kuwait to the current deal ,but not invested here since sold at 115p post dividend and my current view of SIA is that I'm not inclined to buy until I see now this transaction washes out. But GL all.
tyler19: It’s disappointing to see the share price drop but understandable in the light of declining Vietnam production. The stock is now trading on a forward yield of 6.4%. Which allows for a slightly further drop in production. Hence, I see strong support at this price. It’s not the sort of company you want to follow on a daily basis, but if you Look at the medium to long term I can see a recovery. Finally, the management seem to be waking up from slumber. Drilling is starting, reserves being increased, all steps in the right direction. Just need a little luck on the drilling front to change direction of the share price. Fingers crossed!!
stemis: I think that's a fair point. Is SIA + Merlon more undervalued than SIA alone was (assuming you think it was)? I'd say not - they've nearly doubled production and 2P reserves (I believe) for an almost double in EV. So why would the acquisition change the markets view of SIA as an investment in the short term? Indeed what the acquisition has done has removed any speculative interest (if any existed) that SIA was going to pull some amazing deal out of the hat. Can't really see the share price going anywhere from here. The bulls have been saying SIA is undervalued all the way down.
emptyend: Leaving aside the ad hominem drivel from the usual suspects, I note this point from TomKe22:we are close to the level it was when Emptyend made his original 'fess up' post. I know posters here do not like charts but they tell a story and the current story is not good.I'm not sure when that "original 'fess up'" post was supposed to have been, but the vast majority of my holding was acquired under 10p in present-day terms (sub 40p in old money).Re charts, I would note that around 90p has been paid out to shareholders over the last 5 years or so. Without the company doing that, the shares would be double the current level (and the chart would not be so optically damning).The reasons the share price is where it is are:1. Oil prices sub $80, compared to $100-148 for the few years of £4+ share price.2. Lack of success in Africa. Differing reasons for that in different places but (uncontrollable) politics has played at least as big a part as geology. (Block V DRC was geologically great but politically impossible; Cabinda North was geologically disappointing due to leaky seals, but much of the risk was laid off to Inpex; Marine XI was politically OK but difficult to monetise in an $80 oil environment).3. Drop in VN production. This was largely (60-70%?) down to the hiatus in development drilling after the oil price fall. Little could be done about that, with cash-constrained partners. The rest was down to water handling hitting capacity (problem now solved) and the compressor issues (now a significant irritation, given that the FPSO has been would hope they are actively working to solve that in the next month or two).4. Lack of exploration upside. With Africa failing to deliver, there is a gap in the potential for production growth. 125/6 looks a decent bet from about 2021 onwards, but a deal is needed for 2019-20 growth (other than solving production issues).5. Licences running down.....though there are contractual extension options and also precedent for additional extensions beyond that.6. Strategy uncertainty. 15 months on from signalling that deals were being sought, nothing material has been done. That really isn't good. But, OTOH, it is also something that could be solved in an instant if one of the deals being looked at can actually be delivered. They could, for example, have pressed ahead with Kuwait Energy instead of pulling it.....and they could have outbid Ophir for Santos Asia. But they chose not to, judging the price/risk relationships weren't attractive enough. Sometime soon, that line won't be sustainable!....are there any other reasons that people want to offer for the shares being where they are? And what might they actually have done differently? (don't bother moaning about oil prices, politics or geology.....those all come with the territory......I'm only interested in hearing what management actions could have been taken to improve things).
emptyend: At the start of February, the share price was around 115p - and the GBP/USD rate was 1.43.......equivalent to $1.64 per share. Now the share price is 96p and the GBP/USD rate is 1.29......equivalent to $1.24 per share.So.....for USD-based investors......the shares are 25% cheaper. Back at the start of February, the oil price was $70. Now it is over $74.Back in February, the most recent (Jan) guidance on 2018 production was 8,000-9,000 boepd (vs an outturn of 8,276 in 2017). Currently (thanks largely to drilling delays) 2018 guidance is 7,400-8,200 boepd.So (remembering that the company is a USD-earner):- shares down 25% in USD terms- production guidance down c.7%- oil price up 6%- African assets off the books- H1 revenues of over $ say, prospectively, $182mn for the year (which would be 17% more than 2017, despite the lower production).- Historic yield of 5.5%; 2018 profits likely to be c. $27mn (should get better steer on 20/9 with interim results), with scope to raise dividend further out of cashflow...........if I was a USD based investor (or bidder), I'd think that looks quite cheap.
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...
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.
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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