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
  -0.60p -0.57% 104.40p 2,250,119 16:35:06
Bid Price Offer Price High Price Low Price Open Price
102.20p 102.80p 105.20p 100.80p 105.20p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 125.2 4.6 -4.5 - 346.56

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Date Time Title Posts
18/3/201819:14SOCO - The Endgame20,781
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 105p.
Soco International has a 4 week average price of 89p and a 12 week average price of 87.60p.
The 1 year high share price is 150p 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 488,902 shares. The market capitalisation of Soco International is £346,560,647.29.
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.
nigelpm: Ee you have to admit the share price has the last say. You've been banging on for about a decade about how undervalued Soco is and the share price just drifts down. There has been nothing but shareholder value destruction for years here. The smart money left years ago. All fair enough but future potential is more relevant than past performance. Albeit I accept past performance has been atrocious for various reasons.
loglorry1: Ee you have to admit the share price has the last say. You've been banging on for about a decade about how undervalued Soco is and the share price just drifts down. There has been nothing but shareholder value destruction for years here. The smart money left years ago.
dunderheed: Yes and how the f is that going to stop the external share price performance of this company lol?! What an amazing development!! I'm assuming the share price hasn't doubled because the market is still either working out the impacts of this or hasn't noticed this subtle 'message'. Ffs talk about grasping at straws lol!
emptyend: The usual guff from the usual suspects, I imagine. I've got no regrets about anything other than the last 6-9 months......but even there it could've been worse. SIA down 22% over the last 6 months - and OPHR down 30%.Even at today's share price, I've had 176p per share of value vs 7.5p cost. Sure that is over nearly 20 yrs, but I suspect most would settle for it. If I'd sold three years ago (before the reserves reclassification that followed the oil price fall), I'd have had 325p of value. I still fail to see why much of that value won't come back at some point, because in TGT the reclassification was mostly driven by the lack of 2015/16 work programme. So at current share price levels, a reversal of much of the reclassification could have a very material impact on returns from here.
emptyend: ....err....where was the share price when oil was at $50?Re Kenobi's deal-doing point, volatility in markets is never helpful, because it changes the valuation optics from week to week. But the biggest problem would arise if they were trying to do an asset purchase for shares, because there would be an unwarranted increase in dilution (as management would see it.....and that is very important when the board controls 40%+).I do think they will do a deal for shares - but I don't think that would be the first deal.....especially with the share price at this level. More likely, I suspect, to do a deal that comes with a chunk of debt finance.
emptyend: And here is another pointer. Brent is now at $68.....and, also relevantly, the oil price in sterling terms is now back at the level it was at back in November 2014 (close to £50) as you can see for yourself here:¤cy=gbpWhat's the relevance of the oil price in sterling? SOCO's oil reserves are priced on the stock market in sterling.So.......back in November 2014 where do you think the SOCO share price was? Tricky to be sure precisely - but somewhere NORTH of 300p.What's changed since then? Yes reserves were reclassified in Feb 2015 due to lack of an agreed work prog. But we now have the FFDP (and have had for nearly a year now). The OOIP figure for TGT didn't change in 2015 (though it did for CNV).... so the market should now be pricing in a reserves reclassification in the opposite direction to 2015 - but it isn't.Yes production levels are lower due to lack of recent drilling & investment. But what is the plan for next year? We are still waiting to find out.Yes the licence is now three years shorter. But we may yet see an extension of 5 years or more?I remind you all that the new exec management team loaded up at 150-160p last February. IMO, the current price is substantially wrong. Difficult to say exactly how wrong, given the lack of any recent info and pending the expected update......but I think "substantially" will do for now. I wouldn't rule out a doubling of the share price during H1.
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 !!
emptyend: kenobi,As we discussed if you believe that the worst is over now theres an arguement for moving some funds to shares which will move more as the oil price rises.It isn't a risk free option, but potentially more rewarding if things go that way.Yes - I've been tempted by TLW on a couple of occasions at 10-12p below the SIA share price. Then again, it has hit a 90p premium between those occasions and promptly reversed.For me th biggest risk in soco is that the licences, and to a lesser extent the oil, in vietnam is running out. We have partners with little appetite to expand production even at oil prices north of twice the current price. So how do we value SOCO ? are we just going to concentrate on Vietnamese producion and take divis ? if so what might that be worth over the next x years until the licences expire ? We've been over this ground many times. A number of assumptions are embedded in your comments. I am mystified as to why you hold the shares if you believe what you write, since you hypothesise a utility which has no upside, several sources of downside and no options.
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