rRomeo29
05 Apr 2017
Re: Trading update due soon ...nice stabilization (within the ongoing sideways and/or down-trend), but the Sp will soon bounce at the 140p barrier.(Focus is on the mid-price, not the asking.)
rRomeo29
30 Mar 2017
Re: Trading update due soon Thanks, bud!Yes, things are okay in these crazy times. It's been a long time indeed if we think about the many changes in this world... Suddenly there was IS, suddenly there was Crimea and suddenly there was Trump : ((
Shotry
30 Mar 2017
Re: Trading update due soon Thanks rRbeen a long time, I'd almost forgotten your moniker!Hope all is well
rRomeo29
29 Mar 2017
Re: Trading update due soon Shotry, first of all allow me to calm you a little: Today the Sp is holding above 135p, so the support has NOT been breached yet, and SIA even made attempts to bounce back to 140p.Ignore where the price was last year - with different oil prices.The current bearish alert has been generated at the end of Feb 2017. It covers about eleven months timeframe, as its been 11 months since the Sp tried to stabilize in this sideways formation, but suddenly broke out to the downside in late February, with pressure on 135p and 132p.[link] Something is not quite right, with SIM falling through 140p (the 200-day-average). Is it company insiders who fancy the parked cash? Who knows.2) Irritating is also that there has been pressure on 132p (the vital 50-week average)!3) That 135p is holding up decently at the moment. So be happy, enjoy your Wednesday pub night and greet your friends with pint. So far, so good.4) But IF 135p is breached again, it gives a first bearish alert for a change in trend.5) Long term bearish alert comes IF the 132p support (50-week average) folds. Breached, means the Sp drops below and does not make a rebound on the next day, as we've seen in the past.6) If these factors are confirmed, then there is one final bearish alert when 117.20p falls apart. Then its time to kiss this share goodbye and let the market walk it down.Remember: We can always buy back in!
Shotry
29 Mar 2017
Re: Trading update due soon What's the date on those predictions? 135 must never be breached or we're off to 77p? 135 has been breached a numerous times since July 2016 and the last time is now. I have the low at 114/15 so far, which is below the 117. How old are those predictions rR and are they still valid?
rRomeo29
29 Mar 2017
Re: Trading update due soon Oilinvestor, Thank you for your "promotion" on the GPX site : ))Now about this SIA/ Soco Intrnational: Currently this has a bearish alert on tradesignal-online-com. Very careful now:- The vital 135p support must never ever be breached!!!!- IF this is breached, then new long term bearish trend down to about 77p.- Bearish confirmation comes IF the 117p support falls apart.Its best to adjust the auto trailing stop and let the share price find its level. In case of a rebound the system buys back in automatically.---------- ---------- --------producing in Vietnam around 10,000 BOPD and plans to increase production by ongoing drills.90- 100 million in the bank and no debt. Exploration assets in west Africa and Vietnam. Expecting some additional cash to be repaid from previously sold Mongolian asset. Pays dividend. Looking to acquire additional assets with cash balance.Bottom out: 77 - 65p
sage in the hills
07 Mar 2017
How do we feel about ........ ....... asset value of co on accounts reducing ............shareholder funds value of co reducing .....ie, cash burn occurring ....... until when , when is the uptick in revenues ...?......SAGE
researchassist
24 Jan 2017
Re: Trading update due soon Oil Investor 85Thank you for the comments.I must admit I'm not too worried about the lack of drilling over the last two years. Its good practice to stop drilling during major downturns and to conserve capital for future purchases of assets and companies. Also, stoppage in drilling allows cost of services to fall and enables more favourable negotiations with local governments for permits etc. Soco has recently started drilling and more is to follow as per the last trading update. The update also mentions increasing fluid handling capacity at the TGT site, this IMHO will be a step change up in production. I guess lack of liquidity may deter larger investors in the short term but with a market cap around £0.5B that should change quickly as the price of oil rises.The oil market is already starting to tighten which should bode well for Soco. The company trades close to its NAV which makes it a bargain due to its high operational gearing, if the oil price continues upwards.Please DYOR, IMHO its a strong buy with rising oil price.
oilinvestor85
24 Jan 2017
Re: Trading update due soon Research assis I'm a holder here This is an excellent well funded company with ok management.There are a few big issues as to why we languish at this lowly price Lack of share liquidity Management haven't spent the cash wisely and haven't invested in new assets Management were very slow to restarting drilling and stem the production declineOne asset company. Most of the revenue comes from one place and African assets are just a side show
researchassist
20 Jan 2017
Trading update due soon With oil price trending upwards there should be a good increase in probable oil reserves. The company has also started a drilling programme that should increase production for the year ahead. With an excellent team in charge I'm surprised that the share price is not much higher. Am I missing something?
researchassist
08 Nov 2016
Re: What's going on here? Its the second downward production guidance issued by the company associated with field decline. Oil wells deplete by a few percent every year which is usually offset by new wells drilled. During low oil prices companies reduce drilling and instead enhance recovery from existing wells to conserve capital. This is what seems to be happening here. Its good that the company is planning some drilling in the future but probably not enough for the short term. The company has good financials for an E&P but share price is unlikely to recover unless we have a sustained recovery in oil price.
LoveMusic
08 Nov 2016
Re: What's going on here? Thanks. To me the RNS reads like there is exciting stuff in the pipeline (forgive the unintentional pun). Therefore the dip in the SP looks like a buying opportunity to me.Funny how the markets work.Cheers.LM
researchassist
07 Nov 2016
Re: What's going on here? Its due to the lower production guidance released today
LoveMusic
07 Nov 2016
What's going on here? Anyone know why this share hasn't recovered today as BLT, RIO and AAL have done?Thanks,Love Music
DukeDosh
17 Mar 2016
Re: RBC Note on FY15 Prelims Headlines comment from RBC earlier today
roduction of 11,976boe/d, generated revenues of $215m, and $80m of cash flow before interest and tax; after capex of $87.5m the company ended 2015 with cash of $214m (as previously guided). SOCO reported a loss for the period of $34m; we were forecasting a loss of $29m. However, we were anticipating an impairment charge for CNV and assumed February's unsuccessful MPS well would impact H1/16 numbers; in contrast the company expensed MPS ($23m) and announced no impairment charges for any of its producing fields at year-end. Adjusting for this variance, there was an underlying earnings beat of $20m driven by lower G&A and taxes.The Board has proposed a final dividend for 2015 of 2p/share ($0.05 forecast). Assuming an oil price at or above current levels and no major adverse surprises, management anticipates that the Board will at mid-year results propose a special payout to be distributed in H2/16.SOCO ended 2015 with reserves of 37.3mmboe, down from 40.8mmboe; a (surprise) upward revision at CNV partially offset production of 4.4mmboe. An updated Reserve Assessment Report has been completed for the TGT field and a full field development plan is scheduled to be submitted in Q2/16.This year's exploration and development budget is fully funded from existing cash resources, FY16 guidance includes production of 10-11,500boe/d, opex of $10/boe and capex of $54m including the expensed MPS well. A deferred payment of $52.7m associated with 2005 sale of Mongolia interests is expected to be fully received in the next 12 months, and this could lead to an additional distribution to shareholders in H2/16. The Congolese authorities have agreed to a 12 month extension to the previous March 2016 Marine XI licence expiry. Two long serving Non-Executive Directors, John Norton and Bob Cathery, are not seeking reappointment at the upcoming AGM.A conference call facility is also available today at 10:15, dial in: 020 3059 8125. SOCO will be presenting on Friday in London as part of our Winter Lunch Series.
