goldfinger
- 29 Sep 2004 11:11
Right I havent beleived in investing directly in an oil company untill today and in the last few months have been investing in OIL SERVICE companys Hamworthy and Corac, you know the picks and shovels tale.
Anyway after doing a lot of research I really feel that SOCO INTERNATIONAL SIA as been left behind in the mass bull market on oil companies.
Forget, Burren, Regal, Dana and the rest in my opinion this is the one to be on.
So.....why buy Soco now?
Four inter-related reasons:
1) Newsflow is now very much in sight on several fronts. None of it has yet emerged though, so analysts have yet to revisit their old views and recommendations. There was, and indeed remains, a chance to get in before serious interest picks up again.
2) There is, IMO, a decent chance of some very large price rises within the next 6 months, accompanied by increased downside protection. Once newsflow starts, the shares will come back onto institutional radar screens - you can wait for it to emerge, or you can speculate now at what I think will prove to be a lower price -perhaps much lower!
3) The market thinks there is nothing happening and has gone to sleep on the prospects. You can see this in the broadly sideways drift and very low volumes on most days [until this week]. They are wrong. Yemen and perhaps Mongolia should provide some near-term good news.
4) The time to buy is when no-one else seems very interested.
And heres the last results from the company......................
Soco International PLC
02 September 2004
SOCO International plc
Interim Results for the six months ended 30 June 2004
SOCO is an international oil and gas exploration and production company,
headquartered in London. The Company has interests in Vietnam, Mongolia, Yemen,
Libya, Tunisia and Thailand, with production operations in Yemen, Tunisia and
Mongolia. SOCO today announces interim results for the half year ended 30 June
2004.
HIGHLIGHTS
Operating profit of 4.1 million (2003: 4.2 million)
Net profit of 2.0 million (2003: 2.5 million)
Earnings per share of 2.9p (2003: 3.6p)
Cash balance of 26.7 million at half year end
Finalised the sale of an interest in ODEX creating a consortium of SOCO
(34%), Oilinvest (46%) and Gazprombank (20%) in the special purpose
entity to progress initiatives in Libya and other countries
Continued reinterpretation of existing 3D seismic and acquisition of 650
sq km of new 3D seismic in Vietnam prior to commencement of drilling in
Q1 2005
3D seismic programme completed in Mongolia with two wells drilled, both
apparent discoveries, and a third well spudded
First ever deviated Basement well drilling in East Shabwa in Yemen
Ed Story, President and Chief Executive of SOCO, said:
'Following an extended period of quiet preparation, the release of interim
results coincides with the commencement of a very active drilling programme for
SOCO, one that I believe has company transforming potential'
2 September 2004
ENQUIRIES:
SOCO International plc Tel: 020 7457 2020 (today)ENDS.
This could really be a craking stock and is worth getting in at these lowly price figures.
Please DYOR
cheers GF.
gavdfc
- 30 Dec 2004 07:39
- 122 of 636
Bought 3 times in here now, looking rather nice now. From todays Independent:
"Soco International jumped 30p to 360.5p as major shareholders in the oil explorer rejigged their stakes. Pontoil, Soco's biggest investor, bought 3 million shares from Opale, taking its total holding to 15.3 million, or 21.1 per cent of the company. Opale is left controlling 5.6 per cent of Soco. Pontoil is a Liberian company controlled by a Swiss industrialist named Mario Contini.
During the summer, rumours circled dealing rooms that Soco was close to a deal to unlock some of the value of its assets in Libya. Now that the North African country is slowly opening itself up to the West, oil majors are said to be eager to do deals in the resource-rich state. However, nothing came of the talk."
gavdfc
- 30 Dec 2004 12:51
- 123 of 636
Just tried a dummy trade with Comdirect. Can only buy 2330 at 370 but will let me sell 12500 at 365.15. If I remember correctly, over the past month or so you could buy 12500 and sell 15000.
gavdfc
- 30 Dec 2004 15:29
- 124 of 636
Just tried another trade, can still buy 2330 at 385 but can now sell 22500 at 380. Seems to be a serious shortage of shares.
gavdfc
- 30 Dec 2004 15:39
- 125 of 636
Won't let me buy any online now with Comdirect but can still sell 22500.
mickeyskint
- 30 Dec 2004 16:11
- 126 of 636
GF
Looks like you've done it again. Well done.
MS
gavdfc
- 30 Dec 2004 16:13
- 127 of 636
Mickey,
Are you still holding these?
mickeyskint
- 30 Dec 2004 16:14
- 128 of 636
Yes I am. Can you see 4 in the new year?
gavdfc
- 30 Dec 2004 16:19
- 129 of 636
Nice one Mickey. Yes can see 4 pretty easy IMO. Another day like the last 2 and will be 4 by year end. Lot of newsflow away to come out here. Should get the Yemen results soon and news of Vietnam drilling should be announced at some point in the New Year.
mickeyskint
- 30 Dec 2004 16:20
- 130 of 636
Great stuff. Good start to the new year.
MS
gavdfc
- 30 Dec 2004 16:25
- 131 of 636
And a great end to this one Mickey. :-)
gavdfc
- 31 Dec 2004 10:48
- 132 of 636
Bit of slight retrace this morning, to be expected I suppose given the sharp gains of the last few days. But buyers back in at 383. If we break 400 in the New Year then we will be in new territory.
gavdfc
- 31 Dec 2004 12:42
- 133 of 636
Well nice to see we made back some of the early day fall. A Happy New Year to everyone.
Cheers
Gav
Troys
- 31 Dec 2004 12:51
- 134 of 636
A safe, happy and prosperous NEW YEAR to you all.
Troys
gavdfc
- 04 Jan 2005 16:42
- 135 of 636
Hope everyone had a good New Year's. Another good day for us to start the year off. And someones just paid 410 for 10k.
gavdfc
- 04 Jan 2005 16:43
- 136 of 636
And another 10k at 404 after the close.
mickeyskint
- 05 Jan 2005 14:19
- 137 of 636
Bid 403. Up we go. Increased steadly over the last few trading days. Nice one.
MS
gavdfc
- 05 Jan 2005 15:01
- 138 of 636
Someones just paid 414 for 5k, nice! Closing today at these prices and we will be at an all time high.
mickeyskint
- 05 Jan 2005 15:06
- 139 of 636
They must have really wanted them.
MS
Troys
- 05 Jan 2005 16:10
- 140 of 636
No sign of stopping
goldfinger
- 06 Jan 2005 00:50
- 141 of 636
Patience pays off in the end. Just got back from holiday to see this one as really moved up nicely. Lets hope theres a lot more left in the tank.
cheers GF.