Petrofac Share Discussion Threads

[whites123] 01/2/2021 17:08

Maybe preparing for a potential fine ?

HELLO: One would have to be charged with something first and then the years before it gets to court and defense made... So unless I have missed something then I have to ask... "What potential fine?"


Uncertainty over the fine plus the current climate would help depress OFC share price for a while

HELLO: Uncertainty over what fine? There is no fine, there are no charges even.

I am shocked and amazed at how people can not understand this simple message;;;

PFC HAVE NOT BEEN CHARGED..
No current employee has been charged..
Therefore it is IMPOSSIBLE to fine them..

Now, this could change, if the SFO decide to press charges, and if PFC were to admit guilt. Then there could be a fine levied..

It could also come to light that the SFO close their investigation because it proves to not be in the public interest or they have no certainty of a conviction if PFC decided to defend any charges, but presently at todays date PFC face NO FINE and NO CHARGES...

Its getting weary explaining it to people..

[wardy333] 01/2/2021 16:13

£1.25 p seems to be a good blocker here., they can only hold it for so long , brakes will have to come off soon.

[cybernest53] 01/2/2021 16:03

Hahaha! I have a bad case of blepharitis... but touché Wigwammer. :) At least I know how to edit! ;)

[wigwammer] 01/2/2021 15:54

Perhaps he can teach you about spelling "suddenly" though :)

[cybernest53] 01/2/2021 15:49

Some nerk suddenly appearing and posting his first comment ever on ADVFN, who can't even get the company's EPIC code correct is hardly "interesting"! ;)

[wigwammer] 01/2/2021 14:36

CSJOHN. First post today. Interesting.

[csj0hn] 01/2/2021 14:29

Uncertainty over the fine plus the current climate would help depress OFC share price for a while

[wigwammer] 01/2/2021 14:26

Yes. If the fine is $400m and they have the liquidity, this is going north of £2. IMO

[ammu12] 01/2/2021 14:15

Maybe preparing for a potential fine ?

[wigwammer] 01/2/2021 14:11

So they now have another $400m liquidity. Good news.

[ammu12] 01/2/2021 13:43

COVID CORPORATE FINANCING FACILITY Petrofac has today issued GBP300 million in commercial paper with a maturity of 12 months under the Covid Corporate Financing Facility, the maximum amount it is eligible to issue under this facility. ENDS

[wigwammer] 01/2/2021 13:26

People seem to be disagreeing with it. The company has not been proven innocent or guilty yet - nor have they settled. So it's absolutely acceptable that some discount is applied. Given historic precedent, investors should be made aware this may run into hundreds of millions of usd. There is little contentious about this.

[whites123] 01/2/2021 13:02

Absolutely its been built into it...

I do not believe anyone disagrees with that.
It highlights issues though when this has been built into the price, not once, not twice, not thrice, but disproportionately to any peers who "Have been charged"

You mention Analysts..
Mean Analyst average is closer to £2.00 than where we are..

I personally dont read to much into Analyst reports.. never agree and more often than not always wrong.

Truth is also the fact that by picking out a stock such as PFC where research suggests the share price is artificially low there is better prospects for making substantial gains.

Its that old one isnt it... Pay your money, take your chances.

[wigwammer] 01/2/2021 12:57

Personally, I prefer my investments not to have POTENTIAL fines hanging over them. They seem to be more valuable that way. It appears the analysts covering Petrofac also believe this - hence they include substantial provision for a fine in their sum of parts. In this instance - as has been repeatedly stated - I suspect a substantial fine is already built into the valuation. Not sure why this is such a contentious point - it's bleedin obvious!!

[whites123] 01/2/2021 12:21

Hundreds of Millions in POTENTIAL fines is NOT ACCEPTABLE for a company currently found guilty and charged with NOTHING.

"VERY WELL SAID SIR"

The SFO have their guilty verdict from Dave..
The company have been charged with...... Lets think about it a minute....
Thats right... Nothing... Nothing at all...

So to assume a fine can even be levied is ridiculous in the extreme..

What do some people think? (Pogue) that the SFO, the courts, just turn around and say...
By the way Petrofac, we are fining you X Millions, even though you have never been charged with anything, but by association...

Dave has not pointed the finger at anyone else, and is the "Im Guilty" fall guy.

For PFC to be fined, they first need to be charged and allowed a defence..

My opinion is it will got the way BAT went..
4 years investigation and the SFO will declare its not in the public interest to carry on.

However::: We all know that this would be better if it were to go away, so with that in mind I would welcome Sami announcing that PFC have made a "Contribution... Payment to the SFO ..

With 24,000,000 shares short sold and average daily shares traded circa 2 million the shorts will create a spike when closing out.

It wont be another Gamestop... LOL... But it will be fun and interesting and exciting to be involved..

[midasx] 01/2/2021 11:48

So who said it is OK to levy hundreds of millions in fines for tens of millions in alleged bribes given to win contracts, protect jobs and play the game that was previously common practice in the Middle East.

We are living in a world were past acceptances should and will be questioned!

Hundreds of Millions in POTENTIAL fines is NOT ACCEPTABLE for a company currently found guilty and charged with NOTHING.

[wigwammer] 01/2/2021 10:49

Multi hundred million.

[wigwammer] 01/2/2021 10:48

In the case of Indivior, the CEO settled in July 2020 and the company settled around 3 weeks later. So perhaps we are looking at end Feb for company to settle. It makes little sense to convince holders there will be no fine - best set the hurdle low and beat it. Those who believe there will not be a fine should try to access the sell side research - the sum of parts estimates will all include a multi million provision for settlement. ATB

[whites123] 01/2/2021 09:12

My suspicion is they will announce no action to be taken against PFC as it is not in the public interest..

But they have "WON" as Dave has admitted his involvement and is now doing bird.

But what price on the rebound from the news?

If it were to rebound to where it fell then we are looking at £9.00

From the £9.00 we then take into consideration reduced contracts etc (Covid)

And I agree with Topazfrenzy, a £4.00 target is very realistic.

www.sfo.gov.uk/2021/01/15/sfo-closes-british-american-tobacco-bat-plc-investigation/

[comedy] 01/2/2021 08:26

simple point if after 4 years no link to co, 1 ex employee being sentenced this month,are they going to come after the co and spend another 4 years?

[wardy333] 01/2/2021 08:12

Cannot see the shorts holding on until the 11th big risk once sentencing is done, there has been at least 4% short here for a very long time, so they might drop to that level who knows.

[topazfrenzy] 01/2/2021 07:51

Keep buying, that's the best thing you can do, buy and hold, all the shorts will have to be closed at some point

£4 share price in 2021 for PFC

[oakville] 01/2/2021 07:46

Another down week ahead. 90p Friday? Shorters in control...

[topazfrenzy] 01/2/2021 07:25

YOUR TIME IS COMING TO AN END SHORT SELLERS

'Retail traders board battle bus in South Korea's war on short-sellers'

hxxps://www.theedgemarkets.com/article/retail-traders-board-battle-bus-south-koreas-war-shortsellers