Shares digital

SOCO International (SIA) – Finals PTP: £28.43m (£24.53m) Divi: n/a (n/a)

The results were and are still overshadowed by a delayed update from the massive E prospect in Vietnam. According to broker Evolution Securities success here could see the shares, which currently change hands for around £19, rise as high as £30. It may also persuade the company to exit the region because of the scale of the costs and the length of time involved in monetising any discovery. Last year saw SOCO add to its exploration portfolio in West Africa and management highlighted its 'long-term potential'.

In February the company disposed of its producing assets in the Yemen to help fund its exploration and appraisal drilling in Vietnam. Management says it is confident of bridging any shortfall in production with first oil due in the near term from both Thailand and Vietnam.

Shares says: Sit tight for the long awaited news from Vietnam.

by: Tom Sieber