Petrofac Share Discussion Threads

[dealy] 01/8/2020 09:49

it is. the shares were 220p just a few weeks ago. The whole small cap sector has been crushed over the last 3 weeks

[computercoders] 31/7/2020 15:22

This is dirt cheap at the moment

[minsky] 31/7/2020 14:47

Thanks for the update everyone.

[fuji99] 31/7/2020 13:40

Good point pogue.

everything may work in our favour as jobs are scarce nowadays.

In any case, PFC has a good cash flow and a well established customer base.

[pogue] 31/7/2020 13:18

I am sure it will its the size of the fine is the only variable from what I see, this down turn may help us though as too big a fine and the company goes bust and the SFO will not want to do that I would assume, every cloud lol.

[wallywoo] 31/7/2020 13:11

It will get sorted. H1 results are due on the 11th August. So may get an update then.

[pogue] 31/7/2020 12:48

You don't goto to court if you plead guilty and pay the fine that's is true. What PFC are doing nobody knows as they are not telling us all we hear is from the SFO who you would assume would pursue a court case as a last resort, as it costs a lot of money and can be a lottery, but it is still on the table I would assume as we have not been told they have dropped the case or a fine has been levied.

[wallywoo] 31/7/2020 12:42

To my knowledge the SFO has not taken any organisation to court. They negotiate a DPA - deferred prosecution agreement and pay a fine.Lots of FTSE 250 companies have gone through this process. It just needs a line drawn under it. 3 years is plenty of time to sort it out.

[pogue] 31/7/2020 12:05

I cannot see the SFO not going to trail with PFC, they have a PFC employee who has admitted bribery. PFC have to prove they had mitigation in place to prevent that and the employee circumvented it. Why would SFO not goto court? PFC have to prove themselves innocent not SFO prove them guilty. Just waiting for a date.

[wallywoo] 31/7/2020 10:32

Still waiting for the SFO. After the last court case they are coming under a lot of criticism for their handling. The legal route is expensive and has mixed results.

The US equivalent, drew a line under this 18 months ago.

I think the line is nearly drawn now. Hopefully with a relief rally to follow. Makes this a risky buy for me.

[d1nga] 31/7/2020 10:31

Still waiting but since the verdict in the unaoil trial the share price has been very very very weak

[minsky] 31/7/2020 10:17

Not deramping but where are we with the SFO? Is that history now or are we waiting for a fine?

[pogue] 31/7/2020 09:23

I don't think PFC will go bust that's why I am still holding however I am not looking at it rising significantly until the oil price is more healthy.

[computercoders] 31/7/2020 09:12

I agree with wally. This is one of my biggest holdings by far.

[wallywoo] 31/7/2020 08:13

nah this is just being played with to shake out any weak longs. Hold tight, there are no nasty surprises at this valuation. Remember debt is tiny, and with money coming in from the Mexico asset sale will likely be in net cash soon.

This business has the foundation to survive a great depression, low capital, good margins.

[pogue] 31/7/2020 08:12

This will pick up when oil prices are over $60 under that nobody is going to spend money on oil infrastructure unless they have to. Even $60 is not going to be a bonanza but there will be work that needs to be done that has been held of that will get put out to tender then.
Until then batten down the hatches.

[ammu12] 31/7/2020 08:06

Or some news which the market got sniff of ?

[dealy] 31/7/2020 08:06

this is insane. could be a forced seller

[ammu12] 31/7/2020 08:06

Wtf is happening

[dealy] 30/7/2020 15:44

happening to dozens of stocks this week

[ammu12] 30/7/2020 15:43

Where is the bottom ???120p??

[computercoders] 30/7/2020 15:38

Yes I'm not enjoying this at all.

[ammu12] 30/7/2020 15:22

Ouch This is depressing

[dealy] 30/7/2020 14:50

dividends are a function of earnings