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.

still watching...

When a share has been on the rise for a while I never know when to enter if at all. I've been in on this one for a while so I'm doing OK. I feel the same with NLR part of me feels I've missed the best part. So I can understand your caution with this one.

MS

Here's hoping also Mickey. This is my big play for 2005, will most likely be holding throughout the year or at least until the Vietnam drilling is done and we get a deal in Libya. Also, Mongolia, Yemen, hmmm, lots of activity here, should be a big year, but you know this of course.

And I see Prop is still watching! We do get a good crowd in here! Even SWW showed up once!

Yes it is looking good gav and like yourself I'm holding. Libya is coming out of the wilderness, so looking forward to good things.

MS

NICE.

cheers Gf.

Yep GF, NICE sums it up pretty well! And agree with you Mickey, Libya is indeed coming out of the wilderness, lots of oil there.

To quote from the 2004 interims:

"As a result, Oilinvest (46%), SOCO NA (34%) and
Gazprombank (20%) are the sole shareholders of the specific purpose upstream
joint venture formed to identify, develop, produce and market hydrocarbon
opportunities in Libya and other countries. SOCO NA received US$2.5 million for its 45% net interest in OILSOC."

50k delayed trade at 475 showed up at the close. Looks like a buy to me.

You guys seem very confident with this one !!

This looks like buy in time, here or here abouts.

It wont go much lower than this imo.

Troys, yes I am confident with this one indeed, but as with oil E+P's there is a risk as I'm sure you understand. I am confident that we will get a deal in Libya at some point this year. As to when that deal will materialise no one can say. The Vietnam drilling program should produce the first set of results around April as per the latest RNS. We also have drilling in Yemen and results to come from there. Also, we can't forget about Mongolia. Plenty of newsflow to come this year. Of course, all of these are just my thoughts.

SWW, I do indeed hope that it won't drift any further. But considering the recent rise, a bit of consolidation wouldn't do us any harm.

Thanks gavdfc. Where do you research from? wish i knew more.

Troys,

You should read and digest : - http://boards.fool.co.uk/Messages.asp?bid=50765 and also http://www.advfn.com/cmn/fbb/thread.php3?id=7734306 and then do your own research if you want to take it any further.

Thanks August. This will keep me busy. Will have to give up the day job and night job now!!

Troys

Have you ever meet my mother in law doing your night job.

MS

mickeyskint. come to think about it ................ NO. Not that I am prepared to confess to anyway.

Lol!

Mickey's mother in law is legendary!

Troys,

TMF site is excellent as is the SIA board over there. A lot of knowledgable posters. Your reading and digesting of that board shouldn't take long, a couple of weeks perhaps! ;-) I dont really use ADVFN much although I do look in now and again. As always though, the DYOR cant be beaten, but it doesn't do any harm to see what others think.

The 2004 interims make good reading, especially what Ed Story and Patrick Maugein say when talking about 2005's prospects. Well worth a read. A snippet from it:

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'


http://www.uk-wire.com/cgi-bin/articles/200409021507115528C.html

There are also some other links that others have posted earlier on in the thread.

What I like about Soco is that it is not a one field wonder, plenty of irons in different fires, Vietnam, Yemen, Mongolia and the Libya prospect. Connoco Phillips are also active in Vietnam, i posted a link earlier on in the thread detailing their activities.

The website also details the various drilling activities.


http://www.socointernational.co.uk/

Hope some of that helps.

Cheers

Gav

gavdfc

Will let you know how legendary Mickey's mother is later.We are not on the same shift.

Thanks for the info

Troys

Lol!

No problem Troys, you're welcome.

Cheers

Gav

Delayed 50k buy just showed up at 452, 2p over offer, someone's keen.

Another 2 delayed 50k trades show up, now up 4p.