Petrofac Share Discussion Threads

[loglorry1] 27/3/2024 14:37

Ps the bonds are not that expensive. $200k min clip size at 39c is £62k per clip plus accrued. Seems a sensible way to hedge a short position although it's often a bit more complex that that might seem.

My concerns are that a) things are even worse at PFC than disclosed and b) paying accrued and not getting it back on cash.

[loglorry1] 27/3/2024 14:24

John Wood group down more today. Ghh argues market got it wrong cos spending £70m to save £60m a year ongoing is great.

The market ain't that daft. It's just a very hard sector to make money in.

[dipa11] 27/3/2024 14:21

Bought few more for easy earning. Looking for a bounce back. Good afternoon.

[loglorry1] 27/3/2024 14:16

Sorry I was a bit quiet.

I enjoyed this mini spike and sold more short into it.

Bond price is extremely weak and short interest close to all time high. Ergo professionals see a D4E coming which is really the only sensible option.

GHH makes some good points and he obviously thinks bonds are a good way into a thriving well capitalised business. That's certainly possible. It's also possible that things are even worse at PFC and they need a lot of new cash. If that's the case the new money will rinse even the bonds and certainly the equity to oblivion.

Can't be too long before we find out now.

[wellbutpoor] 27/3/2024 14:04

NY

Might do myself

[ny boy] 27/3/2024 13:28

I am a buyer on this dip around 26p.

Still looking for that all-important close above 30p🤔

[halfpenny] 27/3/2024 13:17

Rebound on the way get ready. Adding more a Broker recommends PFC...

Expecting RNS soon as Asset Sale and Mega Deals flow.
Suitors buying which is expected as they move in.

Future getting brighter...more upside towards 45-54p...soon

[topazfrenzy] 27/3/2024 11:21

NO ASSET SALES YET AS NO ONE WANTS THEM

Next news is MASSIVE DILUTION

WAKE THE FU*K UP!!!

[topazfrenzy] 27/3/2024 11:20

The only reason they will still try to save this rubbish company is to keep their inflated salaries, otherwise they would have let this dinosaur go extinct a while ago

This company only LOSES MONEY ... when will you get this into your thick heads!!

STRONG SELL

[topazfrenzy] 27/3/2024 11:18

I hope some of you manage to get out before it tanks to 10p after dilution

[halfpenny] 27/3/2024 10:46

Expecting RNS soon as Asset Sale and Mega Deals flow.
Suitors buying which is expected as they move in.

Future getting brighter...more upside towards 45-54p...soon

[tahmina1] 27/3/2024 10:40

the price action yesterday still needs explaining.

[halfpenny] 27/3/2024 10:29

Expecting RNS soon as Asset Sale and Mega Deals flow.

did say Breakout started..

Happy Days Ahead...got more as these levels are very cheap....

[action] 27/3/2024 10:19

It is not listed in UK. Do you know cheaper way to buy it please?

[tahmina1] 27/3/2024 10:02

The bond price has not changed much, despite the rise in the share price yesterday. Has that any particular significance?

[denholm elliott] 27/3/2024 09:55

P&D

10p entry.

[jaknife] 27/3/2024 09:34

kibes,

"where do you find the bond prices? Can they be purchased easily by small investors? They might be a safer buy than the shares."

The bond market demands a yield to maturity of over 60% in order to compensate for the risks of holding Petrofac bonds:



It is rare that such bonds are labelled "safe", more normally they are referred to as "junk".

JakNife

[jaknife] 27/3/2024 09:30

wellbutpoor,

"Jak and Loglorry have gone extremely quiet and it would be good to know their view."

Nothing has happened to change my view. I have nothing to contribute that I haven't already written.

I don't subscribe to the view that, just because the share price has changed a little in the last few days, then "somebody knows something". I subscribe to the view that, in every situation like this that I've ever encountered, the share price can be extremely volatile. It's impossible to know the motivations of other buyers and sellers so you simply need to focus on what you know yourself and why your position is what it is.

In particular it frequently seems that the closer you get to the end game the more inexperienced retail punters become attracted to the stock who seem to think that if you type "it's going to the moon", "burn shorts" and rocket emojis then they will be able to sucker others into buying and therefore push the price up. They may achieve a movement in the short term but in the long term the price effect of the recapitalisation event will always prevail!

JakNife

[kibes] 27/3/2024 09:25

Thanks. Current spread is 36/46 so not really feasible to buy (or sell). I have seen companies with bonds at that level recover their share prices without financial restructuring previously, for example Enquest whose bonds are now at 94p in the pound.

[geckotheglorious] 27/3/2024 09:15

Kibes,

Yes the bonds can be purchased by small investors but the "entry" requirements (Minimum outlay) is quite high and means such is out of the remit of most.

[wellbutpoor] 27/3/2024 09:13

kibes

hxxps://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26

Bonds have been well discussed here previously

[kibes] 27/3/2024 09:05

wellbutpoor - where do you find the bond prices? Can they be purchased easily by small investors? They might be a safer buy than the shares.

[rossifumi] 27/3/2024 09:03

I've just put a limit order on mine too, if everyone did the same the shorters would struggle