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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Southern Energy Corp. | SOUC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.25 | 4.26% | 6.125 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 6.125 | 6.125 | 6.125 | 6.125 | 5.875 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 18/7/2024 07:54 by croasdalelfc Nice - I held AXL from 13p but sold to find a house purchase in early 2023.No mortgage is a lovely feeling but I'm no cash rich anymore. Invested in AET , JSE and SQZ/Dec for dividends - though slowly selling out of DEC as they cut divi by 3/4HH is going sub $2 again - historically high gas storage, mediocre weather (not hot enough) , producers turning taps on again and reduced LNG exports (Freeport still shut after Hurricane) all contributing.At some point it will turn - I'm tempted to go long HH ~ $1.90 |
Posted at 29/3/2024 16:29 by croasdalelfc SOUC get more than the Waha Permian prices below but all basins are suffering. Probably around $1.60/mcf |
Posted at 04/3/2024 07:38 by croasdalelfc 827boepd from the new well for January . Around $500k earned from the first 48 days . 20% goes to royalty ownersDecline will now kick in so at $2.5/mcf it will take another 9-10 months to earn the $2.1m cost of the DUC . The drill cost of $10m will never be fully recovered.Will the cashflow be enough to get to the next DUC ? SOUC is now a zombie company but the directors still get paid ....April is the results month - has debt risen? what is the cash position . Working capital needed ? |
Posted at 09/2/2024 08:14 by croasdalelfc Souc are loss making every day under $3.5/mcf and that isn't counting capex expenditure.Gas revenue $2/mcf inc hedge Royalty (0.4)Production tax (0.2)Opex (1.0)Transportation (0.25)G&A (0.7)Debt interest (0.6)= (3.1)Capex ... |
Posted at 10/1/2024 19:13 by bountyhunter Only in that whichever way the HH price goes SOUC tends to follow. |
Posted at 15/12/2023 10:47 by king suarez Croas,To echo jailbird - thanks for posting your thoughts on SOUC. I didn't like what I read (as was invested) but you have been correct and I think it was you who looked in detail at the production and flow rates of the wells? Which caused me to check and verify - I got out at a loss. ATB all! |
Posted at 03/12/2023 11:45 by croasdalelfc No problem - beaks - hope you do well This is the only real UK listed AIM share with exposure to HH pricing given DEC is massively hedged and soon to be on NYSE listing. I hold some for dividendI3E is the only other as HH and Canadian gas pricing are interlinked. |
Posted at 29/11/2023 19:32 by croasdalelfc It intrigues me that many AIM listed micro/small caps easily hoodwink investors with claims of future riches from drilling old established plays: they use new tech or new seismic or horizontal drilling as the USP to drill old plays that the majors have investigated and discarded . Take BLOE in Georgia, SOUC in Ohio/Mississippi, UKOG at Horsehill, BCE in Germany is another. RBD got hoodwinked in Romania and the US and have poured millions into West Newton with zero result |
Posted at 01/11/2023 21:07 by tag57 Thanks Croas, the stupid thing is I could see the finance issues months ago but expected the management team to be able to pull a rabbit out of the hat, unfortunately there was no rabbit and no hat!!.I will be selling up in the morning and putting what money I have left into something more useful. Good luck to all continuing holders and fingers crossed SOUC actually does better than I expect. |
Posted at 18/8/2023 10:27 by croasdalelfc Tag57 - sorry for your loss :(SOUC is similar to Block Energy and UKOG - saying that new technology in an old oil field will produce stunning results. Lots of hype by CEO explaining new tech and expected superb production numbers (block energy 5000bopd !, UKOG 10000 bopd! SOUC 3000 per well. Then drilling starts share price gets ramped by CEO and others and just as results are due - bang - a big placing. this secures the directors in a nice job for 2-4 years whilst promoting the positives and hiding the many negatives. More placing follow for new acquisitions or for new promised Gen 4 drills - you get the picture :( The difference with SOUC is that production number are transparent albeit 6 weeks behind. I old my last shares in Aug 22 when the first decline figures were released. |
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