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.
Big Al
- 25 Feb 2005 15:57
- 265 of 636
Doubled ISA holding at 522p.
gavdfc
- 25 Feb 2005 15:58
- 266 of 636
Nice quick move up, well done on your timing Al!
seawallwalker
- 25 Feb 2005 15:59
- 267 of 636
Up she goes, but do we know why?
gavdfc
- 25 Feb 2005 16:03
- 268 of 636
Can only buy 75 online with Com, but sell 20k. Stock shortage here it seems.
Big Al
- 25 Feb 2005 16:07
- 269 of 636
Added CFD's 530
goldfinger
- 25 Feb 2005 16:08
- 270 of 636
Another cracking day Gav.
cheers GF.
Big Al
- 25 Feb 2005 16:08
- 271 of 636
Still wanting above mid too.
seawallwalker
- 25 Feb 2005 16:09
- 272 of 636
So it is.
2 times 100 thousand and the mm's have a flap.
Nice.
Bit of retail buying going on too.
Very interesting to watch.
gavdfc
- 25 Feb 2005 16:18
- 273 of 636
Indeed it is Goldfinger. Can still only buy 75 shares online, but sell 20k well above bid as Al points out. Seems like you've been busy adding Al!
SWW, these shares are very tightly held so when they move they seem to move fast,similar to the move up last year, and the online trading limits are also similar.
seawallwalker
- 25 Feb 2005 16:21
- 274 of 636
I have not, in my limited experience seen anything like this.
I'll shut up now and watch some more.
Big Al
- 25 Feb 2005 16:28
- 275 of 636
SW - weren't you watching JKX earlier? ;-))
seawallwalker
- 25 Feb 2005 16:34
- 276 of 636
Yes but not lately, that was some months back, missed the breakout this time.
gavdfc
- 25 Feb 2005 16:37
- 277 of 636
Lol! No need to shut up SWW! Pointoil hold 21.1% and Opale S A hold 5.67% so thats over 25% held by 2 groups. Also, directors own a lot of these as well so I think its fair to say they are quite tightly held. Plus, there are only 72m odd shares in issue.
This was heavily tipped in America late last year so I believe a lot of Americans hold and thats why I think we see some decent buying in the afternoons. Again, this seemed to be the case late last year.
Al, JKX is starting to look quite interesting again with its recent break out. That also moved pretty quickly up.
Big Al
- 25 Feb 2005 20:36
- 278 of 636
gav
I know JKX moved quickly. Longed yesterday and closed today.
I had an email conversation with a good friend a couple of days back that considered the fact small oils might go again given oil once again above $50 and with the possibility of it hitting new highs.
;-)))
EDIT - BP even broke out today!
gavdfc
- 26 Feb 2005 15:41
- 279 of 636
Al,
JKX is indeed interesting. Seems to have been consolidating in a range for a large part of last year, but it did have a great rise leading up to its highs. Is one I am keeping an eye on.
Thanks for the info re small oils and oil above $50. I have to say that I agree with your friend about this and also about oil pushing through the 50's. I also think it will hit new highs and have long been of the opinion that the days of "cheap" oil are long gone. I've listened to a couple of interviews with T Boone Pickens on CNBC over the last few months and last year, and he has called the oil price pretty accurately. He said that when oil was $40 it would hit $50 before falling back, and now when it was $50, he said it would hit $60 before falling. As you could imagine, the Americans dont like his predictions! Its amusing listening to them on the channel feeling outraged when the price was rising up to $50 last year. Joe Kernan claiming the price was stupid and shouted stuff like "why not 60, why not 70 or even 100" Well give it time!
A couple of interesting links that I think are worth reading. They dont relate to Soco but to oil in general.
http://news.ft.com/cms/s/1b0e52f0-8691-11d9-8075-00000e2511c8.html
"Saudi Arabia, the world's largest oil producer, on Thursday signalled a dramatic shift in the oil market towards sustained higher prices by predicting prices would be between $40 and $50 a barrel for the rest of the year."
Found this from another BB, also worth reading.
http://www.simmonsco-intl.com/files/Maine%20Community%20Fund.pdf
I think yesterday that Prudential in the US upgraded Total and Exxon, and as you say, even BP broke up yesterday. Could be some decent short term trades to be made on the bigger oils.
Another interesting guy I've heard talk about oil is Hugh Hendry, a hedge fund manager with Odey Asset Management. He claims to be long on just about every oil derivative in the market and makes an extremely powerful arguement for much higher oil prices in the future.
Anyway, a good weekend to you all and roll on Monday.
Cheers
Gav
Big Al
- 27 Feb 2005 13:16
- 280 of 636
gav
Blimey, T Boone Pickens. Thought he had passed on years ago. Probably most famous for having a crack at taking over Phillips in the early 80's. Caused them mega stress at the time.
Cheap oil is certainly a thing of the past IMO. As for Hugh Hendry - I've got a lot of respect for the guy.
Nice links, cheers.
gavdfc
- 28 Feb 2005 16:07
- 281 of 636
Been another decent day here today. Nice 50k at 543 delayed trade. Agree with you Al about Hugh Hendry, he does talk a lot of sense.
goldfinger
- 28 Feb 2005 16:08
- 282 of 636
Yup another good day, just sit back and let the stock do the business.
cheers GF.
gavdfc
- 28 Feb 2005 16:26
- 283 of 636
Some decent sized delayed trades going through now at 543/4.
seawallwalker
- 28 Feb 2005 16:26
- 284 of 636
Quite a few 25k up to 50k late trades just starting to show.
Where have they been??