Petrofac Share Discussion Threads

[edmondj] 17/11/2017 08:31

Not 'mine' anymore but was regularly a target for bid claim tripe. Editors love to publish/headline it. Best attention-getter! Eyeballs = advertising revenue.

Agree there's potentially a long-term recovery case assuming the CEO doesn't end up thoroughly discredited by the SFO. Should be a time limit on such inquiries.

[stoxx67] 17/11/2017 08:28

is it not your rag that printed the article Ed?

[edmondj] 17/11/2017 08:25

The hack is quids in, in terms of clicks on his article, likewise traders who planted it! Reward greatly exceeding risk, at least for them.

No RNS unless the company has had a firm approach.

[fuji99] 17/11/2017 08:20

Grabbed a few more thousands at £4.26/27

[ny boy] 17/11/2017 08:18

Well a good start to proceedings, let’s see I feel the Company issues an rns about the speculation

[ammu12] 17/11/2017 08:16

Can anyone buy?

[garycook] 17/11/2017 08:16

Shorts running for cover.Look at the sell volume.Managed to buy a further 2500 at 425.77.This is going to fly later,when the Shorts are done.

[woodhawk] 17/11/2017 08:12

This just in from BUZZ via IG Index

"* Shares in Petrofac jump 4 pct on M&A chatter
* Two US oilfield services cos and a Middle East company weigh bid for Petrofac, The Telegraph reports
* Chatter that bid price could be about 600p, 43 pct premium to current prices
* Schlumberger and Halliburton seen as potential US bidders
* Petrofac shares have lost more than half of their value YTD and are now trading 76% below their all time highs of 1,772p from early 2012

[fuji99] 17/11/2017 08:12

I frankly believe PFC would not accept anything short of £7.5 - £8 as a final settlement. From here, with huge shorts volumes closing in panic the share price could easily approach £6 within a week (This is one of the heavily shorted stock)

[1gw] 17/11/2017 08:10

Agree on the "substance" point - lots of volume and a good initial rise suggests this story is being given some credence.

An awfully big total short position to close if a squeeze develops.

[mad foetus] 17/11/2017 08:09

Board may have to consider RNS confirming speculation, could see 550 today

[lodgeview] 17/11/2017 08:08

Nice. Let's keep going folks!

[mad foetus] 17/11/2017 08:07

Got in at 422. Looks like there is substance this time.

[woodhawk] 17/11/2017 08:03

Managed to grab a few more at 418p.

[garycook] 17/11/2017 08:01

Here we go 420p

[ammu12] 17/11/2017 08:00

Anything sub460p a buy

[garycook] 17/11/2017 07:58

Spread now 413-416.But we shall see.Maybe last time to buy at those levels,if it opens there.Fill your boots.

[woodhawk] 17/11/2017 07:54

"not much reaction yesterday" - the Telegraph article wasn't published until after the markets were closed.

[fuji99] 17/11/2017 07:52

I would be very worried if I were a shorter.

[ny boy] 17/11/2017 07:50

Maybe let’s try and break 460p resistance first!🙄

In for the long haul topped up 400p, got enough now, takeover rumours are just that, not much reaction yesterday but let’s see what happens over the next few weeks, need oilorices to stay elevated to keep the sector in the spotlight

[woodhawk] 17/11/2017 07:48

May not see it beginning with a 4 again Gary!!

[garycook] 17/11/2017 07:45

The current spread is 395p-450p.But it was that yesterday morning at this time.I do believe we will not see PFC beginning with a 3 again.But you never know in this market.

[fuji99] 17/11/2017 07:42

It was £7.87 billion in 2016 I believe.

[fuji99] 17/11/2017 07:40

Woodhawk - £6 is a fair initial offer. I expect at least £7.5 - £8.5 the final settlement offer because as you say, not only one oiler is interested but many.
So competition will increase the share price and the CEO would be delighted to forget his nightmare. So if an offer is made I am almost certain PFC will take it after showing some resistance to increase the offer of course. So after Wood Group taking over AMEC Forster, is it going to be PFC ? Very interesting events indeed.

[rhatton] 17/11/2017 07:34

£8 billion turnover?

Try something of the order of £5 Billion reducing go £3.5 Billion next year.