Share Name Share Symbol Market Type Share ISIN Share Description
Soco International Plc LSE:SIA London Ordinary Share GB00B572ZV91 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  1.10 1.63% 68.70 31,301 09:28:26
Bid Price Offer Price High Price Low Price Open Price
68.50 68.70 68.90 68.30 68.90
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 137.31 62.81 6.59 10.4 273.0
Last Trade Time Trade Type Trade Size Trade Price Currency
09:28:26 AT 2,545 68.70 GBX

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Date Time Title Posts
26/6/201909:18SOCO - The Endgame22,771
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 Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SIA. The last closing price for Soco was 67.60p.
Soco International Plc has a 4 week average price of 64.60p and a 12 week average price of 62p.
The 1 year high share price is 102.20p while the 1 year low share price is currently 62p.
There are currently 397,515,684 shares in issue and the average daily traded volume is 1,444,662 shares. The market capitalisation of Soco International Plc is £271,503,212.17.
kenobi: You might well be right EE, I missed the AGM, so I didn't get it first hand but they are usually pretty good at signaling possible deals (although often they come to nothing), for example I came away from one agm pretty clearly expeecting the yemen assets to be sold as they were described as not very exciting and "just a plumbing job", the slide that shows possible deals seems interesting, there's the organic stuff that we all know about then the bolt on stuff, 50 to 250M via debt/cash/shares, and then the above 250 merger stuff. I hope whatever they do, it's something that the market recognises the value and the share price rises (as I am sure we all do), my feeling would be that current shareprice won't help the merger type bigger deals, so perhaps there will be one or two more mid size bolt ons, it will be interesting to see if this is the case, if that then saw a share price recovery, and that lead to a bigger deal that would be welcome too obviously, but it's hard to see big mergers based on valuations while the share price is in the doldrums, K
tournesol: Hi EE and others I'd like to clarify my previous comment. Firstly I'm expressing scepticism not so much about Soco as about Mick1909's analysis. He said long as oil stays around this level the dividend payment will only go up so naturally the share price will do as well so even 130p could be cheap by the end of the year…. I do not think that makes any sense at all. The healthy dividend has not stopped the share price from weakening over the past several years. It follows that it cannot be regarded as enough support to arrest the decline and reverse it. 130p by the year end would represent an increase of around 75% and would automatically reduce the dividend yield very significantly. That seems vanishingly unlikely to me. Would anyone apply the same logic to any other company paying dividends of 7%? Secondly, I'm not criticising the specific Egyptian assets recently acquired by Soco. I'm simply observing that Egypt is one of many less developed countries where things always take longer than you expect. That holds true even when you adjust your expectations. It might be that Soco's Egyptian project goes gang busters. It might be that great things happen in VietNam. It might be that there are other new initiatives that prove transformative. But it seems unlikely to me that any of those possibilities can be expected to drive an increase of 75% in the share price by year-end. Thirdly, when I said things would not come right anytime soon I did not mean never, just not as fast as Mick suggested - ie that a 75% increase by year end was unlikely. Having said all of the above, I would be delighted to be proved wrong. I have a soft spot for Soco and have done reasonably well out of it over the years. I'm quite happy with my two holdings in the E&P sector but Soco is always on my watchlist so I'm ready to change my mind at any time. It certainly does not look exactly over-valued at present. It's possible that I'm feeling grouchy about Egypt because I've had an unsatisfactory experience with SDX where I recently exited with a loss of about 40%. Perhaps Soco will overcome the difficulties which have clearly exceeded SDX's management capacities. Good luck to you and other holders. One day I might rejoin you. T
tournesol: Mick1909 Are you new around here? SIA shares moved sideways from 2015 through 2016 Since start of 2017 they have followed a clear and consistent downwards trend. Dividends are all very well but they are not much good when accompanied by a reduction in share price that outweighs the dividends. It is abundantly clear that the support provided by the dividend is insufficient to stop the downtrend. If Egypt proves successful, it might stabilise the share price and even, in time, reverse direction. But it will not be anytime soon.
lauders: Good timing IMO homebrewruss. I see we have a few holdings in common. If the slight tick-up in the SIA share price at close of play yesterday is anything to go by then you may have made a wise choice. No debt, good dividend payer, new acquisition, news to come now that there is a new chapter in the company's activities. I may even add more and never thought I would say that being down 65% or so including dividends.
kenmitch: Yes there are other shares paying 8% or more AND with far more upside share price potential than SOCO too. This is arguably the best buying opportunity for quality dividend shares for decades. e.g. Little understood Diversified Gas and Oil, paying rapidly increasing quarterly dividends. Very good article on that one here:- Also key Pennsylvania agreement today which gave share price a boost. And what about Evraz? Another paying quarterly and dividend around 15%. Or Central Asia Metals. 7% dividend. And away from Oil/miners even quality FTSE 100 shares are sometimes paying as much as 10% AND unlike SOCO, increasing them too. e.g Housebuilders like Barratt, Taylor Wimpey, Bovis and Persimmon. Also Aviva and Legal and General around 8% and also increasing them. As an aside there’s an excellent article on the pros and cons of buybacks in Investors Chronicle today. Obviously, as one or two of us posted here at the time, and with our opinion rubbished by the likes of emptyend and nigelpm, the SOCO buybacks were a hopeless waste of money. As Investors Chronicle said today “buybacks only work for investors if they boost the share price.” What was really interesting was their analysis of Next’s buybacks. Even I have claimed that Next have bought back effectively because they will only buyback when they think the share price is cheap. But despite that their buybacks have not worked over the last 5 years. “Over the last 5 years total returns to shareholders have been effectively zero despite Next spending £921 million (roughly £6 per share on the 2015 count) on buying back shares.”
greyingsurfer: SIA appear to have at least structured the deal correctly as unless the assets are a pile of dogs 'do-do' the seller would have surely backed out on the collapse of the SIA share price after the deal was announced if they could. The seller clearly could not back out. Or they are happy that Soco, once the deal is bedded in will reflect the underlying value of the combined companies much better, and that this remains the best deal for them taking more than a short term view. Take your pick of explanations!
tomke22: Hi Lauders. I watched the same video and I thought it contrived. One of the statements he made was that "He cannot cut the dividend because his wife would object". IMHO Ed is a 'snake oil salesman' and Malcy was giving him a very easy ride. It may be that the Merlon deal is good for SIA - I hope so, but the whole tone of the 'interview' was far too cosy. It certainly would not pass for journalism in anyone's book. If the deal goes through then at least SIA will be drilling again and the market will be able to measure how good the new team is by their results. SIA appear to have at least structured the deal correctly as unless the assets are a pile of dogs 'do-do' the seller would have surely backed out on the collapse of the SIA share price after the deal was announced if they could. The seller clearly could not back out. Regards Tom
emptyend: Just a few comparison of "performance" over the last five years.....TLW -71%PMO -68%OPHR -88%SIA share price is down 79% over the same period and, if you adjust for the dividends, it is down 66%. There is probably an adjustment to be made for OPHR distributions too?But in sum whilst the majors are up 10% or so and the likes of CNE have made much smaller losses thanks to some conspicuous drilling success, the mid-cappy E&Ps are generally similarly out of favour.That might be justified in some cases, but SOCO isn't overleveraged and is committed to paying decent dividends, unlike PMO/TLW.
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.
Soco share price data is direct from the London Stock Exchange
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