Petrofac Share Discussion Threads

[wardy333] 21/2/2019 12:18

Had to happen sooner or later £4.20p likely soon.

[eggbird] 21/2/2019 12:17

Looking strong again today!

[pogue] 20/2/2019 18:50

in a completely unrelated topic after 3 days of being relatively static the oil price clicked up again, pure coincidence obviously

[notimpressed] 20/2/2019 16:46

chunky UT @ 403.50p bodes well for tomorrow

[stevieweebie2] 20/2/2019 16:27

come on, close over 400 would be nice.

[knowing] 20/2/2019 16:06

Share price starting to look strong.

[ny boy] 20/2/2019 15:50

All good here, let’s see where the price is on the next contract news.
Also bought SBRY today, starting to accumulate there, opportunities abound if you look before Brecit etc.

[pogue] 20/2/2019 15:16

so it will go on the contracts FWEL won which proportionately will be a lot smaller as part of a large group hence can be ignored mainly unlike PFC.
Amec buying FWEL whilst knowing there was an investigation does not make a difference no contract Amec won in the past is effected just as no Woood contract is under investigation. FWEL were the ones dealing with Unioil.

[wolfhound1] 20/2/2019 13:50

*Potentially,

although Amec was bought in knowledge that allegatios were pending and WG is a much larger org than PFC (approx 5x no if employees from memory).

[pogue] 20/2/2019 13:39

FWEL is the company that is being investigated. They were bought by AMEC after the alleged bribery happened then Wood bought AMEC which means the fine proportionately will be a hell of a lot smaller.

[wolfhound1] 20/2/2019 13:28

...interesting that HSBC have held their buy rating on WG ( wood group), yet lowered PFC.

...given Amec acquired by WG last yr are in the same boat as PFC allegedly.......

..I thought the title "research" meant that you actually had to do some....."research" lol

[wolfhound1] 20/2/2019 12:27

...so current price reflects a fine that is 3XTimes bigger than the previous record fine imposed on RR of £460mn
- RR as a firm were charged by the SFO ( PFC as a firm have not been charged)
- MARKET CAP IS ABOUT 10 TIMES THE SIZE OF PFC
- RR t/o is 3 times that of PFC anf profits in $$bn
- RR were alleged to have been doing it for 30+ years and had (at time) no anti-bribery policy or procedures.

...just maybe the market pendulum has swung too far and will likely swing back soon IMHO


That pengulum has already been calibtrated by HSBC and uptick is 830p - 2 bagger , although I think that might be nearer to 1050-1250 range if SFO wrap it up at Lutkin and realise you cant take a prosecution against a man who Is deceased and no longer able to defend himself.

DYOR

[knowing] 19/2/2019 13:13

"We reach a potential range of implied fair values of 355-830p and estimate that up to circa $2.25bn in penalties and franchise impact may be ‘priced in’ to current valuations," the analysts said, revising their discount for the SFO investigation uncertainty in their valuation from 20% to 50% among other adjustments.

[notimpressed] 19/2/2019 12:54

shorts at 6.38%

[wardy333] 19/2/2019 08:52

A/T machines preventing this from going above £4.00p so easy for them even if buys outweigh sells.

[notimpressed] 18/2/2019 11:14

hxxps://www.energyvoice.com/oilandgas/192910/family-of-dead-petrofac-founder-hit-out-at-bribery-accusations/

from above

"A confidential document purportedly from the SFO was drawn up after former Petrofac senior manager David Lufkin indicated he would plead guilty. Lufkin has not been charged with conspiracy yet he has named a number of Petrofac executives."

beginning to sound like a mueller russia investigation with everyone implicated or guilty
and the top man denying all knowledge and no collusion

[wardy333] 18/2/2019 10:15

academy..That is old news,the shorters have this in control currently, but with one accused now dead and one other taking the can it seems no more charges will be issued.

[academy1] 18/2/2019 09:32

more accusations from SFO - see todays Guardian
Bad news
No smoke without fire
This price could plummet further short term

[pogue] 18/2/2019 08:38

Very brave selling this into a rising oil price, its on the up again today, somebody must be very confident of bad news.

[wardy333] 18/2/2019 08:23

A/Ts still attacking this they will have to let go one day.

[ny boy] 18/2/2019 00:12

Contract news should start flowing again soon imo, nothing to be too fussed about, steady climb north. Dyor as usual

[notimpressed] 17/2/2019 19:11

wolf depends how you read it. is it the beginning of the end
or the end of the beginning. its encouraging the present
BOD and company have n't had their collars felt by pc plod
just hope it remains that way

[wolfhound1] 17/2/2019 18:29

@notimpressed - well they dropped the prosecution on Tesco former director who developed a heart condition, so it would seem bizarre to go after a deceased person who cannot defend themselves, wonder if this is indicating an end game is in sight ?

[ammu12] 17/2/2019 17:06

Poo looking good. Expect nice rise tomorrow

[notimpressed] 17/2/2019 17:03

from the grauniad today



who are the others?

" According to prosecutors, Semaan acted with Lufkin and others to offer financial inducements to be paid to Iraqi and Saudi officials between October 2011 and February 2013."

given the fact he is dead how can the company be complicit