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
  -2.20p -2.48% 86.60p 268,631 16:35:16
Bid Price Offer Price High Price Low Price Open Price
86.00p 86.30p 88.70p 85.80p 86.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 115.65 -95.95 -35.32 287.5

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Date Time Title Posts
18/9/201808:14SOCO - The Endgame21,529
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 88.80p.
Soco International has a 4 week average price of 83.50p and a 12 week average price of 83.50p.
The 1 year high share price is 129.80p while the 1 year low share price is currently 83.50p.
There are currently 331,954,643 shares in issue and the average daily traded volume is 154,423 shares. The market capitalisation of Soco International is £287,472,720.84.
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.
emptyend: Been on a plane for the last 6 hours.....arriving back for a bit of heat.I notice that some allege there were "questions" to be answered. There don't seem to be. There is a list of stats and comments covering the last 6 years, alleging a trend. But "mysteriously" (ha ha!) there is no mention of the collapse in oil prices from $110 to under $30 in 2014/15 (in the middle of the supposed "trend") and the consequent impact on the earnings, production and share prices of all oil companies.Neither is there any mention of the fact that SOCO have returned 90% of the current value of the company to shareholders over the same of course the share price is close to £1 lower, compared to most of the companies in the sector which have have paid absolutely nothing back to shareholders. Simply spurious twaddle to pretend otherwise.Of course we are now very much at the point when action is rightly being demanded - and those who attended the AGM will know I was making as many points along those lines as anyone. And it is one thing to tidy up the African assets, but another to produce a transformative deal that offers good growth/development opportunities.Anyway we do seem to have established that those who are hanging around here, making negative comments, are actually pondering an entry or an increase...........which tells you all you need to know, really. :-)
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.
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.
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!!
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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