Petrofac Share Discussion Threads

[leoneobull] 06/6/2024 17:30

https://thefinancialanalyst.net/2024/06/06/petrofac-noteholder-agreement-boosts-propsects/Sounds like agreement with noteholders . Question is how badly will equity get screwed...?

[jaknife] 06/6/2024 17:22

My new favourite investing quote:

“Choosing individual stocks without any idea of what you're looking for is like running through a dynamite factory with a burning match. You may live, but you're still an idiot.”

― Joel Greenblatt, The Little Book That Beats the Market

[eodfire] 06/6/2024 16:15

Hope not too many opened a short at 9p...

[seagreen] 06/6/2024 15:43

ghhghh

I am not ramping I have categorically stated I have no idea what is going on that is why I am doing something I have never done before and I believe it is called day trading, which meant I missed some of the upside but I have no exposure over night.

As the retail market have no idea what is going on both bulls and bears.

This means I will miss both good and bad news overnight

I am simply following the market I hope that is clear.

I certainly would not be short overnight you could be totallly wiped out if the UAE or a PE house or a rival came in with a bid or a strategic investment

Sleep well and mind you do not get killed by a bear trap

Another 123K buy hey ho should have remained long overnight but its working for me so why ruin the concept...another case of wine to the good ching ching

See ya all tomorrow for another duffing of the overconfident bears

[ghhghh] 06/6/2024 15:23

I've put out some wasp traps in the garden. The wasps ignored them for a few days and then a couple go in. Within minutes they are all piling in to certain death.

PFC have listed the ONLY two options as insolvency or a massive D4E. I assume you have read this?

The bonds are trading at 25 cents on 100 cent par. Probably means BH's expect to get 50 cents on the dollar.

How do you manage to value equity at 19p or £100m market cap when BH's are expecting 50% hair cuts? Bonds are senior secured debt!!!

If a bid, BH's would absolutely insist on being paid in full before allowing equity to get any crumbs.


And where is the risk reward at 19p? What upside do you anticipate to justify the very real risk of a horribly dilutive D4E or worse?

I understand why you are ramping since there is either a short squeeze or else a lot of exceptionally stupid PI's are blindly moving this up. But you must have your finger hovering on the sell button? The risk reward is dire!

[seagreen] 06/6/2024 14:31

Utterly fascinating ...

[the white rabbit] 06/6/2024 14:26

Why no take over?

either bondholder will take it, or someone else, and refloat at ten times they buy it.

what you think bondholders will do anyway

[the white rabbit] 06/6/2024 14:23

another 500K above 19.50p NS 250k NOW, 19.65P

[ghhghh] 06/6/2024 14:16

seagreen

The Kepler note I cited this morning was REDUCE with no price target. The headline was 'The next two weeks will be key' meaning to PFC's survival!!! They then list the risks that could tip PFC into insolvency.

They say the restructuring must add over $500m positive equity. ie it's going to be eye wateringly dilutive.

No broker has a Buy recommendation and none have a current PT because they can't guess just bad the D4E will be. All your quotes are historic.

There will be no takeover. Read the accounts. Things are desperate. Any buyer will cut out equity and deal directly with debtholders.

[seagreen] 06/6/2024 13:38

God knows what I certainly do not

[seagreen] 06/6/2024 13:37

Well the vol and size of the trades are too high for a retail ramp something is up for sure

[seagreen] 06/6/2024 13:33

Sorry halfpenny you missed this ride shame...it is the 7 analysts reports that was the clue

[seagreen] 06/6/2024 13:32

UAE strategic partner would be nice too at 20p

[tahmina1] 06/6/2024 13:28

im a holder, but why would anyone pay 20p a share when the company is quite frankly insolvent? they are over a barrel unable to pay bond coupons .... needing finance to stay in the game

i think 20p is where the offer may be ;)

[citys2874] 06/6/2024 13:27

PFC NCYT AND STG having a good day today

[halfpenny] 06/6/2024 13:13

Classic day traders joy expect pullback sk be careful its risky at these levels..

[the white rabbit] 06/6/2024 12:55

Too many biggies looking at this.

They could cover the debt and pay 50p per shares.

Then refloat it at 500p in 3 years time

[the white rabbit] 06/6/2024 12:53

20p auction

[the white rabbit] 06/6/2024 12:52

Could get in auction at 20p and come out at 30p

[investtofly] 06/6/2024 12:49

Will the board release a statement about this rise in the SP?

[sbb1x] 06/6/2024 12:48

Maybe take over offer incoming...

[sbb1x] 06/6/2024 12:47

take over offer incoming...

[showme01] 06/6/2024 12:44

Some big buys going through 500k, 250k . Something has leaked imo