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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
  -0.70p -0.95% 73.00p 74,767 16:35:20
Bid Price Offer Price High Price Low Price Open Price
74.00p 74.60p 74.40p 70.10p 70.10p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 115.65 -95.95 -35.32 242.3

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Date Time Title Posts
13/12/201816:36SOCO - The Endgame22,003
23/10/201713:55SOCO INTERNATIONAL32
18/7/201708:26SOCO 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 73.70p.
Soco International has a 4 week average price of 68.50p and a 12 week average price of 68.50p.
The 1 year high share price is 129.80p while the 1 year low share price is currently 68.50p.
There are currently 331,954,643 shares in issue and the average daily traded volume is 173,849 shares. The market capitalisation of Soco International is £242,326,889.39.
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
tyler19: Jotoha2, I agree with you that Sia was a terrible investment 4 to 5 years ago and the share price reflects that. The question is whether it’s a good investment today, I happen to think it is and it’s not based on any webchats or hearsay but my own expertise in the oil industry. As the saying goes you should be greedy when others are fearful and vice versa. There are plenty of fears about Sia and the oil industry, often propagated by people who have no more than a surface level understanding of what is really happening. During downturns e&p companies preserve cash to survive potential funding problems that may lie ahead and drilling too early only results in the company selling its product at a low price whilst overpaying for services, Just basic business sense. I can tell you that very little investment has been made to add new capacity outside the US. As for US shale I doubt this will be able to meet future demand by itself and will be heavily prone short boom and bust cycles which lie ahead. This will see the shale industry consolidate and become more like other major operators which will plan and manage the oil price better. Hence, a healthy average oil price in the foreseeable future. Sia has cash, has added one acquisition, likely to increase drilling in Vietnam and possibly make further acquisitions. All bullish! I’m not saying all ventures will be fruitful but I suspect the environment will be favourable to take more risks than what has been the case so far. As for Vietnam the company is once again drilling. If you don’t drill wells dry up after a few years which is what has happened here previously. The view through the windscreen in somewhat brighter than the rear view mirror. Please Dyor.
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.
lauders: I wonder whether SIA will actually ever go up? With the DOW closing up 545.29 yesterday and oil continuing to dip a bit I suppose we will have to wait a while. This company's share price performance is enough to try countless saints! Only relevant quote I have found on SIA in the media so far for a while is: I think we’ve seen something like that happen with Soco International,for example, where a lower valuation has depressed the share price to a shadow of its former self. It sure is a shadow of its former self! Https://
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: 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).
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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P: V: D:20181213 18:39:47