Petrofac Share Discussion Threads

[pogue] 04/2/2020 18:34

I would never have guessed!
Tip 1. Have a look at the chart of a share you are buying just to see what has been going on. Then maybe do a little research.
Disclaimer
I am not a financial advisor, not a recommendation to buy, DYOR etc etc :0)

[spob] 04/2/2020 18:26

just started today

please help me

[pogue] 04/2/2020 18:07

spob
take a wee look at what happened to the share price when the SFO investigation was announced, no underlying long term prospect will match that for a spike up if they get off with no fine.
Have you been buying and selling shares for a long time or this your first foray into the market?

[1cripes] 04/2/2020 15:10

I would like to see them merge post SFO. Work is thinning.

[1cripes] 04/2/2020 15:10

I would like to see them merge post SFO. Work is thinning.

[spob] 04/2/2020 14:54

i think people spend too much time focused on the possible bribery case

worst case is a one off fine


need to forget about that and look at the underlying long term prospects for the business

the plus point here is, it allows the greedy to buy from the fearful at silly prices

[pogue] 04/2/2020 14:33

notimpressed
are you aware that PFC have been accused of bribery?

[notimpressed] 04/2/2020 14:23

what has any of the foregoing claptrap got to do
with PFC ??????

[spob] 04/2/2020 13:58

new people come on here and say things like this

I am a UK lawyer and I work in the oil and gas business in the middle for a long time and I can safely say that 95% of the people on this tread have no idea what they are taking about

now that may well be true lol, but do they seriously expect to be welcomed with open arms

[honeymonster1] 04/2/2020 13:16

I was the in-house lawyer handling the various cases he brought - he was and is a serious litigator - there is no SFO link in his particular case - we were primarily dealing with the DOJ but the principles are the same - a plea bargain is possible ( although they don’t call it in the UK and will never admit it) - good luck with you investment decisions - I have a big position myself . Like I said I am signing off here - thought it was for serious investors helping each other out but it doesn’t reflect the best of mankind - all the best

[pogue] 04/2/2020 12:39

honeymonster
do you have a link to the Grynsberg case I can only find links that relate to court action in Switzerland and NY and its between Grysberg and BP so not seeing the connection with SFO, was there a trial in the UK after by SFO? From what I see BP got off with paying bribes to Kazak officials to avoid paying Grysberg his percentage royalties for finding an oil field and then developing the oilfield themselves.

[1cripes] 04/2/2020 12:23

This ain’t Tinder honey.

[honeymonster1] 04/2/2020 12:12

Please let me know if you would like to contact me off line - not used this before and I can see that it’s not suitable for people like me

[honeymonster1] 04/2/2020 12:05

Pogue - I would think it highly unlikely. It depends on the nature of their internal compliance programme - UK AB Act has been around since 2010 and FCPA and POCA before that so I would expect companies like Petrofac to have compliance procedures in place which serves as a defence . So long as there is no linkage between the spokes and the hub then it’s going to be difficult to make anything stick . From my experience we have in the past agreed with the SFO to fines for books and record keeping as a WP settlement so it is possible as a means of bringing the matter to a conclusion- Grynberg is a case in point

[dr_smith] 04/2/2020 12:05

I enjoyed the post, interesting and relevant, but who says something is equally as important, so like to see "IMO" suffix or 3rd party source stated - if nothing else to avoid plagiarism.

Also, we often don't know what we are talking about, but use the forum to seek illumination. That is one of the great benefits of an interactive forum.

So please continue to post HM1, but note the need for etiquette. :-)

IMO.
Dave

[spob] 04/2/2020 11:56

rest it in a dustbin preferably

[honeymonster1] 04/2/2020 11:55

I rest my case

[spob] 04/2/2020 11:47

was thinking the same lol

[epo001] 04/2/2020 11:35

Post 14329 is a cut and paste from a solicitors website, google the first paragraph. Post 14331 appears to be original work and would make a 9 year old blush.

All the lawyers I know can spell, they have a good grasp of punctuation and grammar and take care to proofread their work before publishing.

[pogue] 04/2/2020 11:15

honeymonster
in your professional opinion do you believe PFC will get fined? % odds is fine as nothing is certain.

[honeymonster1] 04/2/2020 11:09

CPS - I am a UK lawyer and I work in the oil and gas business in the middle for a long time and I can safely say that 95% of the people on this tread have no idea what they are taking about

[killman2] 04/2/2020 10:44

is that last para a quote? is so where is it from?

[honeymonster1] 04/2/2020 10:12

The law on corporate liability in the United Kingdom makes it difficult to prove that a company is criminally liable if it benefits from the criminal activity of an employee, conducted during their employment. The company will only be liable if it can be proved that the individual involved is sufficiently senior, usually close to or at board level, to be the ‘controlling mind and will’ of the company. Unlike other countries, the principles of vicarious liability or poor corporate governance, which are matters that are easier to prove, play no part in establishing corporate criminal liability.

The present state of the law means it is especially difficult to establish criminal liability against companies with complex or diffuse management structures. In this case, as in any corporate liability case, we have looked closely at the overall structure of the company involved, and the level of management and decision-making powers of those involved, in order to come to a decision.”

[nori_wasabi] 01/2/2020 09:29

If the Airbus bribery case is used as the benchmark, then PFC will be fined 5% of its revenue - $300m, if charged and found guilty. Does anyone know what the impacts would be on the PFC ?