Petrofac Share Discussion Threads

[killman2] 25/3/2020 09:14

£2 ceiling at moment but long way from the 150p bottom....go on do it!

[cybernest53] 25/3/2020 00:58

Wolf and D1nga... I can confirm the trial of the three Unaoil executives accused of making corrupt payments to win oil contracts in Iraq was suspended last week amid concerns about the coronavirus pandemic. The trial was adjourned until 31/03.

[knowing] 24/3/2020 16:45

Goldman also

[d1nga] 24/3/2020 13:50

All court cases are on hold unless urgent cases while the judiciary look for ways to protect the jury, so it'll be adjourned for the forseable

[wolfhound1] 24/3/2020 13:46

Shorters reducing should see a steady lift in share price in interim.

I wonder has the Unaoil case been adjourned due to Covid19 ?

[pogue] 24/3/2020 09:50

The practicalities of running an engineering office with all our workers at home is becoming more obvious daily to me. It was all going reasonably well until today now the Indians are working from home and using their home internet, in most cases I suspect that is via a mobile hotspot with their phone, and its not so pretty their internet speeds mean they struggle to download a drawing. This is going to lose all the large contractors revenues going forward as progress cannot be booked so claiming revenues postponed.

[pogue] 24/3/2020 09:39

wolfhound
you forgot one thing oil demand is very low right now even shale being taken out short term will not rebalance the market. Longer term though things are rosier with them out of the picture.

[1cripes] 24/3/2020 09:19

Blackrock increased their long.

[wolfhound1] 23/3/2020 22:42

Saudis are no fools and they are tight with bid D, there are likely to be following a strategy here that most on this board won't have spotted.... despite seeming to know the future
..lol

Hypothetical..... only thing holding back oil has been shale, but shale is heavily in debt with huge borrowings..... right now that debt price is getting cheaper and cheaper.... and eventually it will get snapped up for pennies on the dollar. The debt owner is likely to have a charge over the fracking fileds.... own the debt, 4close you just bought out the fracking fields for a song, close them down and as a bonus previous fracking supports nursing massive losses with no appetite to go for round two.....

Now with fracking negated ......oil starts to climb to $100+ a barrel.

Not saying this will happen but it is a credible hypothisis til disproven.

This low will pass.

[notimpressed] 23/3/2020 17:45

cripes post 517, pfc are a service industry, low poo will drive a lot of their
clients to stop spending or even go insolvent.

[notimpressed] 23/3/2020 15:50

come back in 6 months time and then see who is right

[pogue] 23/3/2020 15:01

would also add its not the Saudis that wanted to flood the market and take down shale it was the Russians the Saudis wanted to cut production.

[binarypilot] 23/3/2020 15:01

"The Saudis can sustain a POO 30 or below for years" - WRONG

"PFC need circa 40 to stay solvent" - WRONG.


Any more pearls of wisdom to share with the board?

[1cripes] 23/3/2020 13:46

Not impressed. Where are you getting your information from. Why do PFC, as a non producer, need 40 bucks a barrel?

[pogue] 23/3/2020 07:58

do you believe they are going bust?

[notimpressed] 23/3/2020 07:07

POO $26.28 and falling, sold out last week at a big loss
this market is only going one way.

[wilksey1] 22/3/2020 11:15

it can be cancelled before it goes xdiv

[oohrogerpalmer] 22/3/2020 10:03

They can cancel the divi anytime before it's actually paid and it could be considered irresponsible by some companies to pay it given the current situation.

[killman2] 22/3/2020 09:31

can PFC cancel the dividend that has been declared due to the current virus situation with a need to look to the future well-being of the company...i don't think they can but unusual circumstances etc...

[wolfhound1] 20/3/2020 22:33

Delayed auction with price extension, another BB commentator said there was a 2mn share transaction that was spiking price.

Someone, worked out that at this share price the divi was a 16% premium, perhaps shorters are looking at that and deciding time to head for exit, guess we will know more next week