Petrofac Share Discussion Threads

[halfpenny] 05/6/2024 16:46

Nobody knows the outcome 16th June. Day trading until then but need to be careful need steel balls as they could collapse further.

Happy Days..

[halfpenny] 05/6/2024 16:44

New buyers in then sell making a nice easy profit.

Just to let you know im out after a tidy sum.

[seagreen] 05/6/2024 14:38

I wish I knew whether it was shorters abandoning ship or new buyers

A lot of squealing from the retail shorters today again.

[fanny smacker] 05/6/2024 14:33

Be careful, people; fannies will get destroyed here.

[seagreen] 05/6/2024 14:27

Dude thanks for your concern I chickened out plus a case of wine not to shabby .
(It was £300 not £200...toddle pip)

[socionomics] 05/6/2024 12:13

Should see a decent run across many stocks when the ceasefire is announced, and WW3 related fears subside.

Feels very similar to the days leading up to the C19 vaccine being announced.

[no pah king] 05/6/2024 11:54

I took off from Mid-morning buy pump to sucker people in.

[socionomics] 05/6/2024 11:50

I don't hold here, and have no idea what the mid-long term future holds, but the chart is lining up for a return to 35p.

[halfpenny] 05/6/2024 11:05

Looking at a 20p target today.

Got to be on the Train to make a GAIN !!

Future Brighter...

[firestorm911] 05/6/2024 10:36

should close 9.11p today on the road to 0.1p or 0p. Friday 6.66p

and next Friday, the expected range is 0 to 0.1p.

Hope this helps


Regards,
F911
RMC

[general george] 05/6/2024 09:31

Tks for posting ghhghh

[ghhghh] 05/6/2024 09:04

Had a reply

I've asked the Company to clarify what i consider to be the two critical issues.

What happens if they stray below the $75m minimum? This sum does not appear to be secured in favour of the RCF/TL's so will they really invoke insolvency and go pari passu with the bonds.

Similar question re the 16th June deadline. Is this the RCF/TL lenders signing off on the posting of the required collateral from existing cash balances (over and above the $75m) or is there a requirement for fresh capital from another lender?

Appears to be the former so is it a case of turkeys voting for Xmas? PFC appeared pretty relaxed about the 16th June deadline. Either that or the FD is an idiot!


They say the $75m is not ring fenced, it's just a metric giving RCF's/TL's an option to take action.

And the collateral required for the 16th June PG is out of existing cash over and above the $75m.

IMO this significantly increases PFC's survival prospects. Either the RCF/TL holders are the proverbial turkeys voting for Xmas or they play ball and allow the 41% ad hoc BH's time to attempt to salvage value.

It is unbelievable that some PI's actually appear to be buying equity although I suspect most are simply ramping as they seek an exit.

[halfpenny] 05/6/2024 08:56

Back in earlier as bargain levels.

Analysts target 30p and higher as Deal is agreed.

Future just got brighter. 20p this week target

[dudishes] 05/6/2024 08:27

Swagreen (seagreen), Mentioned in share price despatches, not in a kind way, but factual.

The pump merchant, who defended BEN and others to the bitter end, then blamed the demise by mismanagement on shorters?

This has been my biggest short win in the past 12 months.

I was short @ 23.7p to 25p positions.

I closed for a 5 figure sum.

JakNife was short from 125p, I would suggest that he has or will win much more than I.
Whereas, seagreen will lose his £200.

cheers

[fanny smacker] 05/6/2024 08:01

Careful people, fannies will get smacked hard here. Dead cat bounce was yesterday.

[topazfrenzy] 05/6/2024 07:52

Worth ZERO TO SHAREHOLDERS

Anyone holding equity is going to be wiped out, they've said this to you if you read what they put out carefully.

[pogue] 05/6/2024 07:51

Armbar
What are the margins on those contracts? Don't know I bet unless you are at a senior level in PFC,which I seriously doubt, you will not know. So from my experience companies in the contracting industry bid low when desperate for work and I suggest PFC were very desperate when they won that work due to the conviction and fine from the bribery trial plus having thier backlog off work at a very low ebb. I have seen contractors actually hid lower than cost to win contracts when desperate as some have a large cost base of staffers that if they fire will cost a lot in time and money to rebuild. I suggest the PFC office in Sharjah is one such office as the Indians there will have to go back to India if fired. Soooo why buy a company with potentially cost incurring projects when the projects will be put back for rebid?
The project pipeline is not worth a lot if you are objective. However if you are a ramper it's all you have got to work with.

[halfpenny] 05/6/2024 07:41

HOW LOW HOW SOON???

FAAALLLING !!!!

[armbar] 05/6/2024 07:35

Worth something to someone question is who and what would that look like TenneT contract $8bn to PFC alone$60bn pipeline In country value Uae, 9000 employees and skill set , Hydrogen , CCUS, Wind in global demand Just imagine if it was run properly what the value would be Lets. see what unfolds GL

[topazfrenzy] 05/6/2024 07:00

Worth ZERO

Get out while you still can