Petrofac Share Discussion Threads

[pogue] 06/4/2018 13:49

I think you are mistaken on the no case to answer, apart from the CEO being back in place what evidence do you have that that is the case?
I think he is back as they need him to get deals finalised and without him they may have struggled to get over the finish line. As to why I think the SFO will prosecute I would be surprised if they would announce in February this year they were increasing the scope of the investigation if they thought they had nothing.

hxxps://www.thetimes.co.uk/article/petrofac-investors-warned-after-fraud-inquiry-is-widened-mdt0pwpll
"Now it is clear SFO wants to speak to many more members of management — including those on the board committee — and, crucially, that it wants to speak to some under caution, indicating that it suspects they may have committed an offence."

[wolfhound1] 06/4/2018 13:16

My money is on a bid materialising before SFO make any statement based off following logic:

a) SFO have no incentive to admit they were somewhat hasty/ no case to answer- the fact CEO is back in place and COO is back on interim 9 mnth gig says SFO have SFA ( Sweet ..F..)

b) COO - why back for 9 mnths unless there to help with covering off due diligence of a sale process and answer q's from due diligence.....

c) CEO purchase - clearly defensive against a low ball bid - so one has to assume they have had at least an "inquiry" from a 3rd party

d) bidder - they will want to pounce ahead of any clearance by SFO as otherwise the price will rocket.

e) the more i have thought about this the more i wonder what has been the catalyst behind the CEO and COO returning whilst SFO investigation is still ongoing... it can only be that a potential buyer had made an approach and SFO not having any evidence had to stand aside as otherwise they were impeeding commercial decision making at the form and if that was the case might have been opened to being sued........nothing like the threat of a law suit when you are something like 15 cases and zero wins...... it quickly moves to put up or shut up....best they could do was widen the investigation......as they obviusly had diddly diddly......

...something tells me we wont have long to wait........

[ny boy] 06/4/2018 09:27

Sooner those pesky SFO guys drop the charges the better

[ny boy] 06/4/2018 09:26

Excellent progress ex divi soon too

[paa65] 05/4/2018 16:12

Doing well. Needs to get to 537 to achieve its normal 4% daily range.Then burst to 550 tomorrow.

[piedro] 05/4/2018 14:37

downloaded to my PC
all clear and precise
never use online
for anyone

[bouleversee] 05/4/2018 14:37

Surprised there are no comments on here about Annual Report. Has anyone been able to read it?

[bouleversee] 05/4/2018 10:33

Annual Report now on-line but totally illegible on my laptop, apart from the headlines, all blue blurred tiny letters, and there is nothing wrong with my eyesight. They have just photographed the printed report. I am absolutely furious and am going to complain. Hope others will also do so. Equity investment is not the same as it was when I was young.

[pogue] 05/4/2018 10:20

Dubbian
I have been on a very large Russian project, $ Billions, that was cancelled half way through, ie after purchases of equipment had started, because the oil price fell the previous week and had a poor outlook. Daily price movements do effect the share price otherwise what do you propose does? You cannot rubbish one view with no solution

[fishking1] 05/4/2018 09:33

Petro struggles at this price. It needs big push over 5.30.

[dubian99] 04/4/2018 20:21

All I'm saying Cybernest is the direction of oil obviously has everything to do with forward planning, but the price of oil tomorrow or the next day will not make for a new trend and prompt about turns and daily rescheduling from pfc etc, that takes months, currency's, inventorys etc,
unlike like the share price choppin about as if poo every 6 hours makes a tuppence or siesmic difference to schedules,
it don't, that's my only rant, finnito

[cybernest53] 04/4/2018 16:20

Pogue... You're being far more reasonable than I would be with this nerk! Unbelievable that Dubian has not even made the effort or taken the most basic steps to do a little simple research on PFC...like visiting their website to find out exactly what this company does and/or is about! Then he has the nerve to come on here and lectures us about what does or does not move its share price. Pillock! :)

[pogue] 04/4/2018 10:06

dubian
I have worked for O&G contractors all my working life, even Petrofac at one time, trust me when I say the price of oil is what drives them. Daily oil prices will move the price as it maybe the start of a trend so expectations drop of future profits not by much but it will move the price. If you think its hogwash then please provide another explanation I am only saying what I have observed over many years you may have a better conclusion I am always open to new reasoned views.

[dubian99] 04/4/2018 09:42

Cheers Wally

[wallywoo] 04/4/2018 09:37

dubian, I did look it up a while ago. I think around $180M revenue a yr came from oil and gas. Of course, pfc are not directly linked to gaining or losing profit when the oil / gas price changes. BUT indirectly they are massively affected by it, since their customer base are all oil and gas companies, and the higher the price the more they have to spend on infrastructure.

[dubian99] 04/4/2018 09:20

As no one has come up with a figure, I take it they don't sell any oil at all,
so any daily movements following spot oil is even more spurious hogwash bollx,
imo

[wallywoo] 03/4/2018 13:07

dubian, I don't dispute this is undervalued and although the latest order news is good. I don't see the logic in order intake and market cap. I believe PFC had an order backlog of $7B or so in the last accounts.

It is not order book that matters but profit and cash generation. CLLN had a £5B+ order book but still went bust.

Of course that is not going to happen here, debt has fallen significantly, orders up, directors buying. Just sit back and hold this tight IMO

[dubian99] 03/4/2018 12:34

As someone has eluded to, one more contract similar to today and the value of awards in the last 6 months will equal the mcap,
How in the name of sanity can that be,

[bouleversee] 03/4/2018 11:26

And encouraging for those who topped up at the bottom to average down.

[dr_smith] 03/4/2018 11:07

Flying?
It is a relative term.
For lth in at £16+ it is an inconsequential increase.
...Though "better than a kick in the pants" as my dear departed Dad would say. ;-)

[bsharman3] 03/4/2018 10:56

when do you think the FCA will conclude their investigation on PFC? It has been dragging on for quite a while now and once that uncertainty is removed we could see a big re-rate - even if a fine has to be paid (like RR.) - £10 million buy from the CEO is a very good sign.

[paa65] 03/4/2018 09:21

SP flying now.$1.4Bn in new contracts in 3 weeks.Moody upgrade from negative to stable.CEO buy of 10m GBP.Must be more broker upgrades to follow.Happy days.

[pogue] 03/4/2018 09:20

Its market perception of the future oil price will drive the share price this is driven by the security of supply which at the moment seems very volatile on a daily basis. Currently we have Trump starting trade wars, Trump threating to re-impose sanctions on Iran, missiles flying into Saudi that could damage vital oil infrastructure, Venezuelan oil fields collapsing etc we are living in interesting times I suggest. Very unpredictable market therefore very unpredictable price.