Petrofac Share Discussion Threads

[eater24] 12/12/2018 13:07

Well this seems to be creeping higher,
Still some way from where it was only a month ago. A quick Santa rally would be fine with all the madness going on !!

[bouleversee] 12/12/2018 12:44

Fanghorn2:

I haven't actually said which way I voted or if I voted at all and I include myself in being not sufficiently informed about all the implications because we weren't told and even the government hadn't thought it through and didn't know. And despite being glued to the news, political discussions, reading all the articles in the serious press, I find it difficult to know what would be the best thing to happen now, and it would seem I am not alone in that. If there is another referendum, I might even leave it to the geniuses like you to decide. Let's just hope that those members of the public I have heard being interviewed who had never even heard of Brexit stay away from the polling booths. As my dying husband said, I just want it to be over.

I wonder, though, whether there will be any carers around when my turn comes, not all that long hence I should imagine, and who will pay my nursing home fees when more of my already depleted lifetime savings have disappeared down the equity tubes and are rapidly exhausted by massive fee increases to pay for the increased running costs. But why should I worry? There's always the poor benighted taxpayer to tap and I daresay that by then, for economic reasons, euthanasia will no longer be taboo.

Happy Christmas, everyone.

[fangorn2] 12/12/2018 11:40

"David Cameron has a lot to answer for. A cop-out leaving things to the uninformed British public was never going to have a happy outcome. "

Wah wah wah I didn't get my way, it's not good for my pocket. Wah wah.

We voted LEAVE - suck it up.

We leavers had to make do with "No say" for the last 41 years.

"it is too complicated for most people to assimilate and many won't even try. This is a job for those who are paid to study the issues to decide imho."

Utter uneducated tosh. project your own lack of understanding but do be so pretentious as to assume rest of UK is as dimwitted as you are.

[bouleversee] 12/12/2018 11:33

But disastrous for long term investors like me. David Cameron has a lot to answer for. A cop-out leaving things to the uninformed British public was never going to have a happy outcome. There probably never was a chance of one: damned if we do, damned if we don't. Now it's a case of least bad option, which is probably staying in but a lot of those who voted to leave haven't changed their minds so goodness knows what will happen if we have another cop-out referendum and although there will be much more info. out there, it is too complicated for most people to assimilate and many won't even try. This is a job for those who are paid to study the issues to decide imho.

[cinquepercento] 12/12/2018 11:21

Fuji: Yes:I have to agree with you at the moment re:your post above.

On a positive note,these constant ups and downs at the moment ,are proving good for day trading.

Best wishes, :-)

[fuji99] 12/12/2018 11:01

Cinquepercento - I think this Brexit business will end up in a total mess as I have never seen a so much divided tory party while labour is waiting in the wing like a vulture.
Everybody is knifing everybody in the back.
This could drag on and will certainly create instability in the market.

[cinquepercento] 12/12/2018 10:24

Fuji99: Re:no confidence vote: Theresa May:


It was well known to all the politicians and ministers etc that Theresa May was a "remoaner ".

So why did the various people/politicians in her party vote her in?

Answer:Because they have been hoping that she will betray,water down,cancel,sabotage the Brexit and she may well do just that.

Everything that she has done so far, has been detrimental to the Brexit and also to the Conservative party.

She has to be one of the most treacherous,stupid prime ministers that we have ever had.

Thank you for your rapt attention. :-)

[eodfire] 12/12/2018 09:27

And they're not already unsettled? Lol

[fuji99] 12/12/2018 09:24

In the other hand good news for the S/China trade war.

[fuji99] 12/12/2018 08:48

Unfortunately that's what could rattle and unsettle the markets.

[wolfhound1] 11/12/2018 16:46

Interesting to compare the last 3 months share price performance to WG, in the last 2-3 wks WG has seen an uptick and PFC now also showing positive sentiment.... WG down 11 % -V- 25% PFC over past qtr....hopefully we close that gap in short order.

[riviera1069] 11/12/2018 14:04

Yep. Thought about pulling the trigger when it touched 450 but didn't.Little Santa rally coming or more volatility ahead.Who knows.Still very cheap if you wish to buy and sit on them for medium to long term.6% yield also.

[eater24] 11/12/2018 13:58

Seems to have bounced back a little today 4.75 now

[riviera1069] 10/12/2018 12:07

Seems its wanting to get down to 440 area.Waiting patiently for a re-entry point myself.

[wolfhound1] 09/12/2018 00:56

Oil price on way back up

hxxps://finance.yahoo.com/news/oil-soars-opec-partners-reach-153000881.html
Iran and Russia fell in line with OPEC output cut plans on Friday morning, sending oil prices soaring in early day trading

[riviera1069] 07/12/2018 15:34

Nice. I did exactly the same at 490.somethingMay regret it but rather not hold over the weekend.

[paa65] 07/12/2018 14:55

Just sold yesterdays buy for 490

[pogue] 07/12/2018 09:53

A lot of the share price is based on their order book, renewing mickey mouse contracts to service oil wells is nothing compared to large EPC projects. Nobody does large EPC projects unless there is a payback and will a low outlook for oil nobody commissions these projects. The bread and butter servicing etc is only a baseline for the share price. All oil and gas contractors and equipment suppliers are the same and follow oil price. Look at Rotork for a supplier or Wood group for a contractor similar charts.

[jamirish] 06/12/2018 19:45

Gents, I got in on PFC last summer so I'm sitting on a tidy profit but I'm wondering why PFC is so closely tied to exploration and by extension the cost of oil rather than total output? All I'm reading about is an increase in oil production/Wells etc even with prices falling, surely when there are more assets to manage PFC should do better or at least hold it's on the share price ? Also how much of their revenue comes from renewals as that should also mitigate the price/? Agree 100% on the SFO, surely the amount of work required to open a public investigation should be high thus limiting the investigation to 12 months for example.

[dr_smith] 06/12/2018 19:14

bouleversee:Q1. Can't give constructive answer, howver I do agree with culpability, particularly where it adversely affects others.
>And what were the auditors doing?
As all auditors do all the time, signing off accounts for big fees without doing the groundwork expected of their profession. The gov are currently on the case, for all auditors, with the dial turned up since CLLN fiasco.

Dave (Middle name Russell not a Doc ;-) )

[bouleversee] 06/12/2018 18:28

Dr Smith: So who do you think was responsible for including future income in current year's receipts, which I understand was the case? I gather they got off because they claim they didn't know this was illegal. I always understood that ignorance was no excuse for breaking the law, so we come back to who in the company was responsible for knowing this was not permissible. There must be someone. And what were the auditors doing?

[dr_smith] 06/12/2018 18:00

Hard to know whether SFO are poor at their job or under-resourced.
Regardless, I think it scandalous that an entity set up to protect UK interests does the opposite, calling their business/people etc into question, putting a cloud over their head for many months/years without any action. I believe their should be a timeframe to put up or shut up.
I wouldn't be surprised if co has ability to sue SFO for defamation and damage done to integrity, but co probably too fearful that would produce an unconstructive backlash from SFO/Gov.

[warranty] 06/12/2018 17:26

I see the SFO case against two Tesco executives has been thrown out of court with the SFO itself being highly criticised. Wonder if this will have any effect on our current investigation?

[paa65] 06/12/2018 15:19

Bought some about an hour ago at 467p.Think any opec cut will push up oil price.PFC has fallen from 650 as oil price has fallen so hoping for big reverse.

[riviera1069] 06/12/2018 09:29

Yep. I'm back in. Let's see if they bounce or continue to fall after the meeting. Production cut likely but by how much?