Petrofac Share Discussion Threads

[armbar] 12/4/2024 13:07

Ok I have zero knowledge :) Succinct answer is yes at some pointJV/TO

[dealy] 12/4/2024 13:04

on a positive note: the shares are much higher than the dark days of the end of November. That would imply that although things are far from rosy, they are nonetheless not as bad as 6 months ago.

[pogue] 12/4/2024 12:51

Armbar
I am struggling to read your posts, are you suggesting ADNOC will bid for PFC?
If so you have zero knowledge of the oil and gas contracting business. I have some having spend 30 years in it and have worked for both ADNOC and PFC in the past. There is no way a national oil company will buy a contractor they do not have the workload for them to keep them occupied and I dont see other oil companies asking ADNOC to run their projects so its a waste of time and money.
The only bidder for PFC would be another contractor but they wont want to take on the contract pipeline PFC have accumulated as they have bought the jobs by underbidding cost price to keep the work rolling in. Regards renewables all the major contractors are doing those projects nowadays.
There is no value for anyone buying PFC unless its at a huge discount to compensate for the trouble sorting out its projects that are returning negative profits.
Listen to those who understand how this is going to play out and save yourself some money.

[armbar] 12/4/2024 12:39

Both have advantages Ghhghh as you will appreciate Offer pre you can then negotiate say if you are an Adnoc better terms based on their financial position and in control of the process ,shape it as you wish , based on your balance sheet Post - obvious it is done for you Those shares are somewhere schroders 30M, short 60M and those from today Lets see

[armbar] 12/4/2024 12:03

GhhghhDo not disagree either pre or post Middle East This has been played a beauty imo Now a while ago I suggested the restructure could buy the bonds back at a deep discount but was obviously told by wiser men , never , roll eyes Similar to a tullow glencore scenario Strong conviction Uae as been saying for months question is when , how, how much Adnoc or ME banks Main shareholders will be fighting it founder Asfari 85million shares , BOD, Azvlor his friends Lets see sure they will choose the least damage and most profitable option

[topazfrenzy] 12/4/2024 11:52

From the Telegraph:

'Israel preparing for Iranian attack ‘within 24-48 hours’

Israel is preparing for a direct attack from Iran in the next 24 to 48 hours, a US intelligence source reported.

The country is readying itself for a possible strike on either southern or northern Israel, the source, who was not named, told the Wall Street Journal, as the US embassy placed travel restrictions on all government employees based in the country.

With the region on red alert, Iran is allegedly planning a larger-than-usual aerial attack featuring a mix of missiles and drone strikes, but it intends to limit its strike to avoid provoking a US response, a separate official told Politico.

Iran is “looking to calibrate it, so they essentially don’t overplay their hand”, the official said.'

If so then straight to 9p on Monday for PFC

[ghhghh] 12/4/2024 11:50

Armbar

Any buyers will wait for the restructuring, especially now that PFC have confirmed a significant D4E. The bonds are likely to be extended as well.

The bond price is indicating that there might even be haircuts.

[topazfrenzy] 12/4/2024 11:47

10p max by June

[topazfrenzy] 12/4/2024 11:46

No limits to the idiocy expressed on this board ..

Still the lemmings think this can be rescued at current pricing

[armbar] 12/4/2024 11:32

Interestingly PFC managed to secure the Habshan Adnoc guarantee RNS Dec expects by year end March RNs confirmed they had received it Algeria MEED upstream 1$Bn project reported 2.4.24Bahrain gas project MEED 5.4.24Silence from BOD and IRRNS will give the votes required imo collect and offer hostile What price who knows , interesting if lenders are Middle East may try and force the issue GL

[armbar] 12/4/2024 11:27

So RNS does not clarify much that is not known Question is why ?If left , share price likely to have continued the strength over last few days so it seems purposeful to halt, never did this on the way down interestingly.Now a higher share price beneficial for a D4E negotiation etcSo only can assume as I have said for a while , someone wants it and wants it cheap #hostile , shorts and leaks done their job Lets see the offer Adnoc

[tahmina1] 12/4/2024 11:25

Another unknown - on the performance guaruntees already obtained, advance payments on the contracts may aid cashflow.

[dealy] 12/4/2024 11:23

one year ago, the company extended its banking facilities. why now is the company on death's door? something doesn't make sense

[klassic] 12/4/2024 11:13

Wshak thanks for taking the time to explain the bond price situation. As a result, I sold yesterday. I owe you a few beers.

[sellhighandbuylow] 12/4/2024 11:07

Shares in Petrofac tumbled after saying it remains locked-in discussions with its lenders over the restructuring of its debt which would result in a significant proportion of the debt being exchanged for equity in the business.

[geckotheglorious] 12/4/2024 11:05

Hey Witless.

PFC no longer a strong buy?

You seem to no longer be appending such delusional drivel to your every post.

Finally understand what Jaknife and PFC's RNSes have been saying have you?

[topazfrenzy] 12/4/2024 11:02

Only mad lemmings buy this when a D4E is on the way at 5p max

You have been warned! Another 75% sinkhole is about to hit you all.

[fiscal cliff] 12/4/2024 10:51

Been reading this thread for some time, and have taken a few long positions which I still hold.
Of all the posters on here, Armbar seems the most sensible, and through his own efforts the most well informed. You'd do well to listen to what he says.

[loglorry1] 12/4/2024 10:28

Do I get a badge?

[jaknife] 12/4/2024 10:20

All,

I'm going to deputise loglorry1 as stand-in Harbinger of Doom for the rest of the day, I have to disappear for a lunch.

JakNife

[jaknife] 12/4/2024 10:17

tahmina1,

"I have never dissed Jaknife, he has a considered opinion, but IMHO he misses the possibility that this company with its future prospects could be very attractive to a large energcy company seeking to get its expertise on the cheap and its humungouis order book. The gloom and doom assumes no bid. I'm not sure bond investors are smarter, they are gtting 33p on the £ how is that smart :)"

I'm sure that the bondholders (and banks) would be delighted if someone were to come in and bid for the company. Any takeover would trigger the "change of control" clause in the legal docs and require the bidder to immediately repay the bonds and bank debt at par! Can you imagine ghhghh's delight at getting $100 instead of the current market price of c. $33?!

Otherwise I remain mystified as to why you think that anyone would want to pay a lot of money for PFC's "humungouis order book"? It remains the case that, despite the massive order book, PFC is still forecast to make losses in 2024. Far too many people have forgotten the adage:

Revenue is vanity, profit is sanity but cash is king!

PFC's order book is vanity, the sanity is that it's lost $1bn+ over the last nine years and the cold hard truth is that Petrofac has run out of cash and desperately needs a fund raise!

JakNife

[molatovkid] 12/4/2024 10:17

If you are nursing losses, try CAB Payments...