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Im a newbie here and bought in after the transfer.
This is a no brainer for even a newbie. Those predicting £160 sold out and wobbled on tje sell off so fhe shares are being picked up by.stronger hands as the weaker hands are letting go.
Institutional Investors picking up at £2 shows they see potential. I hope to scope a few more if it goes sideways but don't see it imo.
I'd like to know more from the Longterm holders here. GLA
It’s good to hear new posts on here and finally we getting a conversation on here. Nothing new to add, I guess everyone on here know that the fundamentals are on cue here and a lot of upside to add once the acquisition is bedded in.
I did dip my toe in at the low 80s and then a couple of big buys for me at 89p, averaging 88p at the moment. Let’s see where the acquisition takes us.
Email reply from investor relations: Thank you for contacting us through our website, apologies for the delay in responding I have been on annual leave. Thank you for your feedback, we have added the Twitter feed to our website now. Should there be any material update on the business we will of course update the market via an RNS. Yours sincerely, Communications Team SOCO International plc 48 Dover Street, London, W1S 4FF, United Kingdom Registered in England. Company No. 3300821. www.socointernational.com
Excellent news of the submission of the pre-feasibility of the EPS this morning; but not the anticipated RNS that we all await. The 7E RTO IA needs to be delivered next week imho, not many trading days left to the deadline set out by AK. He can’t surely miss another deadline, or can he?
RNS: Savannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, is pleased to announce that its Niger subsidiary ("Savannah Niger") has submitted a pre-feasibility study ("PFS") to the Ministry of Energy and Petroleum in Niger in relation to its planned early production scheme ("EPS") on the R3 portion of the R3/R4 Production Sharing Contract area of the Agadem Rift Basin ("ARB") of South East Niger. Savannah Niger undertook to prepare and submit the PFS within 90 days of the signature of its Memorandum of Understanding ("MOU") with the Republic of Niger, as announced on 8 August 2018. The MOU affirms the commitment of Savannah Niger and the Republic of Niger to realise a domestic-focused EPS using crude oil resources associated with the Company's recent discoveries. The PFS sets out Savannah Niger's plans for the Amdigh-1 well test, resource volumes expected to be developed as part of the EPS and associated potential production profiles, as per the Company's announcement of 28 September 2018 and as reviewed by Savannah's Competent Person, CGG Robertson.
Workover It’s a delight to have you on board on this BB and I hope you have taken a position here. There are some really good technical minded PIs who contribute with thoughtful and meaningful posts. The list of LTH & posters is extensive but here’s a name of some of the guys who have provided some excellent posts: Agadem, Nen, Zengas, Oilbagger, HappySparrow, Rob, Arbitrader, and many others. GLA ATB
You’re in good company here. A brilliant set of PIs and IIs alike, a fantastic BoD with Andrew Knott on the helm. This is by far my largest holding and this company for me stands out as a multibagger from these level, longer term view of course as Zengas points out and breaks down, if we don’t get taken out). There’s a dividend to look forward next year and many rabbits ready to be pulled out a 2 hats (Niger and Nigeria). Dyor ATB
How can you tell how profitable an oil company really is? With oil prices having made a strong recovery from their 2016 lows, most companies’ profits and margins are rising. That’s good news for shareholders. But over the long term, rising profits don’t always translate into market-beating shareholder returns. You see, oil companies annual profits are driven by operating costs per barrel in their reporting. But the cost of developing oil and gas projects is sometimes greater than the cost of operating them. Only by adding development costs and operating costs together can you understand the full-cycle cost. This all-inclusive measure gives us a longer-term view on profitability. We can use it to estimate whether a company is generating real wealth for shareholders, or whether it simply recycles profits into new projects without any residual gains. An easy alternative Companies don’t always provide their full-cycle costs. But you can get an idea of how profitable a firm’s investments have been using a standard accounting metric called return on capital employed, or ROCE. This compares operating profit to the capital invested in a business, (Then it gives a six year average for the 4 companies he’s covering with a ROCE percentage) Soco International (LSE: SIA) 13.0% Royal Dutch Shell 6.0% BP 1.0% Premier Oil (LSE: PMO) -0.7%
Why I like Soco Vietnam-focused Soco has paid generous dividends for a number of years, while maintaining a net cash balance. It’s no surprise to me that it ranks highly for ROCE. Perhaps by chance, Soco also recently published the full-cycle costs of an asset it’s planning to acquire. Merlon’s El Fayum asset in Egypt’s Western Desert has operating costs of just $6 per barrel, but a full-cycle break-even cost of $34 per barrel. Both numbers look attractive to me, but what’s so interesting is the difference between them. Perhaps this focus on full-cycle costs is why Soco has historically generated a higher ROCE than many of its peers. After recent falls, it is one of the top shares on my oil market buy list.
Using mobile version can’t get using theses touch type phones.
Workover Exactly my thoughts. I might look to nibble a few SDX if it drops a little tomorrow. Soco has a stronger balance sheet and can absorb BP Egypt. Maybe Mike, Jan and Ed are already o the phones, here’s me thinking aloud. Ed did point out that if the right asset or deal cane So o’s way and it fitted its profile, Soco would look at growth inNorth Africa.
SDX has announced that the discussions with BP re a significant package of assets have been terminated by ‘mutual agreement’ and the suspension of the shares has been lifted. Paul Welch, CEO said he was ‘clearly disappointed that the transaction had not materialised’ and that ‘we are screening potential deals all the time’. He added that, ‘we know that there will be others to fast track our stated goal to be a North African focused E&P of scale and that we will continue to build value from our existing business ‘.
From twitter: SOCO International plc ‏ TGT- 16AP Well flow test results: choke 34/64”, gaslift 1.0 mmscfd, oil 1,202 BPD, water 7 BPD, gas 1.27 mmscfd, THP 691psi, BHP 1798psi, THT 46 degC At this rate and an oil price of $85/bbl payback of well costs is effectively less than 4 months. I would’ve have thought they’d RNS this today as well as tweeting.
Probably backed by Savannah Resources shareholders.
Why’s the bid at 26p???
Broker updgrade for SOCO. https://www.proactiveinvestors.co.uk/companies/news/206774/soco-international-tipped-to-rise-thanks-to-recent-deal-making-206774.html
Very undervalued cash rich and asset rich play.
Workover A cracking interview by Ed and to the point...”There will be more to come, but they will be done prudently”...Plenty of upside to come, hopefully. Off the topic, your entry looks well timed for CEY and looking really promising. Good luck with all your investments.
Ed Story interviewed by Graham Malcolm Wood on Core Finance TV.