Petrofac Share Discussion Threads

[action] 22/5/2024 13:43

Interesting to see adr price today

[midasx] 22/5/2024 13:00

Yes, all margins increased to 100% from 28th.

You can always rely on spread bet companies to find any opportunity to screw their "Clients"

[owan] 22/5/2024 10:20

We need to hear from them by 31st May. Maybe the shorters are buying up adr because they are about to go into an unlimited loss suituation with adr stock…with a takeover offer. We all know they are being fed inside information.. Some money to be made in adr.

[hojjat] 22/5/2024 09:59

I think, we will hear from them by end of next week.

[action] 22/5/2024 09:19

As usual no RNS regarding price movement in USA as we are suspended in UK. otherwise BOD will put RNS out immediately to bring share price down . SHORTERS PARADISE

[kulvinder] 22/5/2024 08:53

Hi Midas, this is what it states in my account under Info heading for PFC.SUSP 1 MAY 24) PetrofacKEY INFORMATION DOCUMENTMARGINQuantity. MarginUp to 450,000 20%450,000 - 2,230,000 30%2,230,000+ 50%As I sold out totally around 25p maybe they made it 100% for those people who still hold CFD's....sounds crooked as that tells me they want your shares, so if you not got the cash to cover the extra 80% Margin required then they will sell if and when the market opens for PFC to trade.

[owan] 21/5/2024 21:54

There is no defined timeframe the suspension will be lifted. Rns states before 31st May. Something happening …..the the huge rise in bonds and adr

[dipa11] 21/5/2024 21:24

hTtps://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26Today some movement in bond price .

[action] 21/5/2024 21:23

When suspension in UK will be lifted? Anyone?

[action] 21/5/2024 21:20

High price appx 277p and close appx 50p

[action] 21/5/2024 21:19

Why everytime news comes out when share 8s suspended in UK.

[owan] 21/5/2024 21:16

Surely we get rns in morning - if this take over my goodness it’ll be sick for ppl who sold based on previous rns.

Push the stock down so Asfari can buy it over

[midasx] 21/5/2024 21:05

City index have today raised the margin on PFC to 100% from the 28th May.

[owan] 21/5/2024 20:44

Yes very interesting in the USA- expecting an RNS in the morning. Possible takeover looks very likely.

[farrugia] 21/5/2024 20:29

how come this stock is still trading in the USA



today it says its 820% up!!?

volume is high?


is something happening?

[farrugia] 21/5/2024 13:05

I don't have any shares in Petrofac but I've bought the bonds at around 27p And to be honest I doubt there's any value in the shares here. I doubt there is much value in the bonds either but taking a big punt given how others in the space are attracting bids! If bond holders are made to pay you can bet your bottom that shareholders won't get much.

[sellhighandbuylow] 20/5/2024 11:06

Farrugia a.k.a Chicken Dimwit still trying to ramp his portfolio of dud shares.

[jaknife] 20/5/2024 11:02

What's supposed to happen on Friday (24th)?

[kirk 6] 20/5/2024 11:01

Buying as much INDI as I can but will be back here on 24th

[farrugia] 17/5/2024 15:54

Hunting PLC and Woods Group seem to be trading well. I think that parties tried to acquire those companies as well but were rejected. Isn't Petrofac similar to them?
I also note that the bond although still highly distressed is slightly improving in price, price having gone up from 20p to around 27p now.

[pogue] 10/5/2024 18:52

Log
not always. I have seen a few project suffer from unexpected high labour rates in the past where the industry has gone from boom to bust. Depends on how desperate the contractor was for the contract as the ones I have seen have always been started during bust times and then when the market got better the engineers left for better rates.

ghhghh
yes the client engineers will point out the flaws with the design and make the contractor fix them usually at their cost. Client engineers though dont always spot the flaws as there are a lot less of them compared to the contractor's engineers. Look at how PFC have had to pay to fix the problems in the recent past on projects that have gone wrong.

[ghhghh] 10/5/2024 16:26

Thanks Pogue but I said

My understanding is that half of the $6bn backlog is renewables with better margins and lower risk since in collaboration with TenneT/Hitachi

Won't the partners keep PFC honest?

[loglorry1] 10/5/2024 15:30

Surely these contractor firms put price escalators in for labour costs as well as materials when they bid?

[pogue] 10/5/2024 12:26

Renewables are better margins however how did they win the contract by being the cheapest? The only time you will find out is when they do the project. As I said I think they under bid for jobs to win them I have no proof as I did not do the bid summaries however in their position I suggest it would be something they would seriously consider to boost their project pipeline devastated by the fraud trial and fine.
I expect those renewables jobs to be done out of Aberdeen office. There is something to consider about the UK just now which I hinted at earlier. There is a shortage of engineers. Many retired due to covid and the HMRCs aggressive stance on IR35 there has been very few engineers trained over the years to fill the gap that has been coming so to get engineers companies need to raise rates to get those engineers that are around, simple supply and demand. I know of one contractor company already finding it hard to get engineers for a very large project as they priced the job at the rates pre covid and they cannot go higher. This off course will hurt all contractors but any that got their projections for their bids wrong, or were buying the project, will find it harder.