Petrofac Share Discussion Threads

[whites123] 28/3/2024 08:28

How lovely of Topazfrenzy to share his wonderful insights with us. :-)

What an absolute charlatan he is to encourage people to buy with lots of stories of how DEC is going to fly through £20.00 with absolute ease, and with concocted stories of how £30 and even £50 will be the near term target only to sell off and desert his followers absorbing a massive 25% loss..

LOL...

I was going to say a snakes belly is the only thing lower than Topaz, but I think he has the snake beaten.

I know and understand these free forums are but playgrounds for some, but that guy changes his mind as many times as some people change their underwear.
Remember he was also pumping FOXT, well it will come as no surprise he also dumped that as it suffered a 15% collapse.

Go play on the edge of a cliff Topaz, you may get to see your stock picks if you slip.

[halfpenny] 28/3/2024 08:03

PFC with Many Mega Deals and Assets Sold expect RNS soon..

Many Targets like PFC identified expect sharp moves towards 45-54p as nobody wants to be left behind before Easter Weekend.

Jefferies Broker Target 81p well above 45-54p
Barclays Broker Target 73p well above 45-54p
Berenberg Bank Broker Buy 63p well above 45-54p

Brighter Future...we still have many keen Suitors Circulating !

[ny boy] 28/3/2024 07:56

Yeah, doubt it will even get to 30p by end of month but ss long as the direction of travel is north

[halfpenny] 28/3/2024 07:47

Breaking News in FT...today..

M&A MEGA DEALS now in play and Rising rapidly.

PFC with Many Mega Deals and Assets Sold expect RNS soon..

Many Targets like PFC identified expect sharp moves towards 45-54p as nobody wants to be left behind before Easter Weekend.

Jefferies Broker Target well above 45-54p
Barclays Broker Target well above 45-54p
Berenberg Bank Broker Buy well above 45-54p

Brighter Future...we still have many keen Suitors Circulating !

[midasx] 28/3/2024 07:38

Petrofac secures contract extension with ONEgas West in core UK market
Petrofac, a leading provider of services to the global energy industry, has secured a contract extension in the Southern North Sea with ONEgas West (a NAM operated and Shell UK owned venture).

The two-year brownfield Engineering, Procurement and Construction (EPC) contract award extends the previous three-year contract. Petrofac will continue to provide services across ONEgas West’s Southern North Sea portfolio, supporting the Clipper South complex, Leman Alpha assets, Bacton Terminal, and ONEgas Barge campaigns.

Nick Shorten, Chief Operating Officer of Petrofac’s Asset Solutions business, commented:

“We are delighted to continue to be a partner of choice, in one of our core markets. This contract award demonstrates ONEgas’ continued confidence in the value our teams in Great Yarmouth and Aberdeen add to its operations.”

[ghhghh] 28/3/2024 07:38

Halfpenny

PFC now a Strong Buy as Brokers recommend

So name one broker with Strong Buy!

In fact name one broker with a CURRENT Buy.

I'm not aware of any, ALL are sitting on the fence waiting on terms.

PFC have announced a contract extension with Onegas West this morning re UK division.

No details?

[halfpenny] 28/3/2024 07:00

Breaking News in FT...today..

M&A MEGA DEALS now in play and Rising rapidly.

Many Targets like PFC identified expect sharp moves towards 45-54p as nobody wants to be left behind before Easter Weekend.

Brighter Future...we still have many keen Suitors Circulating !

[covid 19 deal] 28/3/2024 06:57

Check its negative equity... Minus 66 million negative equity...its bust

[halfpenny] 28/3/2024 06:44

PFC now a Strong Buy as Brokers recommend after RNS we will Rally as Assets Sold and Mega Deals with Debt Falling dramatically.

Future Brighter Analyst Target 45-54p soon.

M&A Mega deals now in play and Rising rapidly. Many Targets like PFC identified.

Brighter Future...we still have Suitors Circulating !

[halfpenny] 27/3/2024 21:58

PFC now a Strong Buy as Brokers recommend after RNS we will Rally as Assets Sold and Mega Deals with Debt Falling dramatically.

Future Brighter Analyst Target 45-54p soon.

[armbar] 27/3/2024 20:51

Also notice the Thai Oil is at the RFSU stage , Ready for start up RFSU , will equal a stage payment, quite significant , project value originally circa $1.4Bn Work out typical stage payments on EPC contract , will give you some guidance , You can then do the Math XXX Million

[wellbutpoor] 27/3/2024 20:33

Plenty of 'professional spreadbetters' are wiped out every week trying to predict the next move up and down of their chosen targets.

The boys with the big balls have access to the ISLA securities lending network, which facilitates true short selling activities. Usually playing with other peoples dough.

The 10% short position which has developed here represents a prime target for any well heeled raider to exploit by forcing a capitulation to the upside. If this catalyst presents itself, robot trading could trigger an overshoot reaction which could be incredibly spectacular - and very fast.

This morning's blip provided a little taste of what could happen here. This could simply have been CFD houses parting their 'clients' from their hard earned by way of their stop loss settings. Easy money for them, even if a little immoral.

This one is certainly warming up...

Just set a sell limit order of 75p for my holding.

[armbar] 27/3/2024 20:15

Another one for you either call it a JV or a non controlling stake , Private equity placing or convertible , so PFC and a firm lets call them Apollo or an Adnoc , PFC want to strengthen the balance sheet Now they say private equity 250Million shares at 40pence as Adnoc Apollo cannot buy that amount on the open market and definitely not at that price , £100M cash injection.How would the market react ? How quickly would that 40p seem cheap ?How pleased would Apollo Adnoc be on their investment ? Shares would fly , improve stability , confidence , financial rating, unlock guarantees , short squeeze buy back as the free float is limited, bond price rises. Now PFC also have the legacy closing payments . 15, 20% of the contracts and there are some large contracts outstanding or near close. Also have the non core asset sale say 60M plus Now have the guarantees unlocked and can work the cash flow on 8bn with 100M cash injection , 60M plus with asset sale, XXM legacy contracts payments If the JV knew the pipeline , discounted cash flow , order book , 40p would be cheap if you just think about it ,you get the idea , then it rerates Now where did those shares go ? 30M schroder or the 60M declared short ?Just a thought , awaiting the comment that cannot work Then research could they offer convertible shares , then research the Fluor deal and what happened GL

[armbar] 27/3/2024 18:59

Now you also touch on an interesting point when you say just buy the bonds, firstly you obviously need the capital but i have been saying for a while PFC could repurchase the bonds at a deep discount , in vogue right now , reduce payments , exactly what tullow done recently with help Glencore 400M , Question is , is this a viable option, an auction buy back deep discount , PFC need a ME bank, Apollo or an Adnoc Would they be interested I do not know

[armbar] 27/3/2024 18:47

That is where we differ an MBO does not necessarily require 1bn , so lets say 522M shares bod , founder , associates plus lets say Azvalor rolls over into mbo , they have in excess of 30%, not sure where those 30M schroders went or the 60M shorts.Anyway leaves 70% 365Million shares , offer 70p cheap offer circa 255million Ok let's say RCF 252M , 500M minus asset sale ,equals ? 440Million max. Bonds are assumed quite often in takeover and mergers and refinanced at attractive interest rates. So you do not need 1bn.Now the discounted cash flow on 8bn with a pipeline of 60bn may interest a bond holder, and of course you now have the legacy payments and of course the guarantees are freed up. Then you could IPO on the Middle East ADX in 2 years for multiples have no debt Just a thought Now enterprise value is 670M and what is PFC worth , what someone is willing to pay for 8bn backlog , 60bn pipeline , the associated cash flow, the first of its kind hydrogen and carbon capture solutions , scalable 2GW wind solutions in global demand with a tennet contract for 6, 1.4Bn each , Europe requires 20 plus and PFC are doing the various feed studies Worth something to someone likely Middle East , synergies with Andoc and in country value to Uae Just an opinion

[armbar] 27/3/2024 18:24

Maybe they have exhausted those Gecko. alternatively maybe they are in negotiations or near conclusion and are having a successful discussion. What we do know is neither I or anyone on here knows where they are which is why I say they are potential options , how well they are being received is anyones guess

[wellbutpoor] 27/3/2024 17:58

Log - you really shouldn't tempt fate...

[loglorry1] 27/3/2024 17:32

That's true for spread bets but they are long and short. The stats change a lot for professional SB accounts where 2/3rd make money.

It's not easy making money with shorts and I'm long 10x what I am short, at least but some situations do work well.

Everything points to a D4E but even then it's not that simple. If there's a right issue then shorts will end up being short rights which can be a pain. There's also expensive borrow costs and risk of recall.

You should feel sorry for us.

[wellbutpoor] 27/3/2024 17:25

ghhghh

I'm not sure the shorters and bondholders are any smarter or any better informed than anyone else?

Most shorters lose money, the wealth warnings are posted at the top of every trading platform - i.e. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

WBP

[halfpenny] 27/3/2024 17:25

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

[loglorry1] 27/3/2024 17:24

We go around in circles. You say there are lots of alternatives then list them and none of them make sense. For example MBO requires 1bn to make lenders whole (change of control event), and buy out equity at the premium you expect. Clearly PFC isn't worth that. Even if it was why offer a premium. Better to offer 1p and ask for contribution from lenders, but still more than they'd otherwise get.

Ditto take overs.

As for more lending how does that recap the balance sheet. The risk price is 60%. Why lend at anything much less just buy bonds instead?

If there are all these likely alternatives that saves equity then why are bonds 39c and why aren't you buying them with both hands?


I'm quite happy to consider a counter argument but unless you think PFC is worth 1bn+ then there's no value in the equity almost by definition.

[geckotheglorious] 27/3/2024 17:21

Armbar
"You would then explore ME contacts , banks, adnoc , Apollo who were keen on Wood for short term cash , question is in return for ? maybe the non controlling stake , And how much is needed after the above , then what happens if a JV , takeover, or thoughts of an mbo appears with a view to integrating into adnoc or even private to eventually IPO, is that more appealing than a D4E at 5p"




What makes you think they havent exhausted all those other avenues already???