Crude oil taking of like harrier jump jet. Brent now $82.55 and rising rapidly. SIA I still hold having cashed in my PMO for nice profit. SOCO International (SOCO) do not hedge their oil so they get the full benefit of the higher oil price. I still hold. All IMHO.
Soco International up 3% today. Just passed the £1.00 per share mark. They do not hedge and so one presumes they have been raking it in of late. In fact they usually get $3 above the price of Brent if you look at their RNS’s.
SOCO get around $3 premium over Brent and DO NOT HEDGE. Dircector 30K share buy last Friday @ 97.3p is hardly surprising. Seems they are getting OVER $80 per barrel. See: www.investegate.co.uk/soco-international--sia-/rns/notification-of-transactions-of-director/201806291534131289T/
RNS. SOCO director buys 30,000 @ 97.3p I bought too. Lots of director buys recently looking at the RNS’s. Oil price sky high of course.
Re: Strange end day volumes ... and thats how you make money in this game .....SAGE
Re: Strange end day volumes and now all 2.4 million seem to have been bought on Tuesday and Wednesday for between 97 and 103p.Happy
Strange end day volumes Did I really see 2.4million shares going through at around 90p just at the close of play?Happy
Re: Huge loss reported SOCO impared all there African assets which they have no short term intention to exploit.Happy
Re: Huge loss reported I appreciate the loss might be in the accounts, what was this down to?
Re: Huge loss reported the market is down, both sides of the pond!That said poo seems to be on the up.
Re: Huge loss reported Looking red now, I guess the presentation did not go down so well.Happy
Re: Huge loss reported It's just previously announced writedowns, so nothing new, the underlying business is still delivering, if the reported loss was a real issue, we wouldn't be in blue numbers today.F.
Huge loss reported I feel today a $157m loss is not going to be well received.Happy
believeresults on 22 march thinking of buying shares, just waiting to see if anyone buys a lots of shares before the results are published
Re: DEAL OR NO DEAL? SOCO has been a hugely under performing share relative to other O&G companies (or at least amongst the ones I own). I fail to see how anyone can question Kuwait when SOCO previously wanted to operate in Virunga National Park in the Eastern part of the DRC, one of the most violent and unstable countries in the world - Kuwait etc. is like Switzerland in comparison. If it moves the SP to where it should be, I am for the deal.