Petrofac Share Discussion Threads

[gozzy88] 11/2/2021 08:54

Court case will soon be over ?

[lodgeview] 11/2/2021 08:48

Just think how much Ayman is losing. Didn't he buy £10m worth of these at circa £4.00?

[oakville] 11/2/2021 08:26

Yes...down into the pennies within days...

[oakville] 11/2/2021 07:39

Another 2 down days on the cards...

[mastersmix] 10/2/2021 20:55

SFO called out PFC for obstruction in the process a few years ago and that prompted the org structure and re alignment of controls within the company... SFO made no further comment on it. Of course any news with DF will be linked to PFC just in news articles. When the dustvsettles the Goldman target of 2+ should be achieved in 2021.

[whites123] 10/2/2021 20:16

Wardy333,

Nail hit firmly on the head...

[whites123] 10/2/2021 19:31

Oil is racing up.
Contracts are coming in.
The service sector is likely to get very busy.

What to expect tomorrow from the sentencing of Lufkin?

Well, likely not a lot..

We are most likely to get a response from the SFO regards how they have "Done well in securing a conviction". This will in the main be a pat on the back type story and to serve as a warning to anyone else that jail time is the result if you are caught.

What else can we expect?

Perhaps nothing, but perhaps the ideal opportunity for the SFO to state, that with the sentencing it now concludes the investigation into PFC (But with the caveat anyone with information please call or leave a message with your contact details).

Will this come?
There is an extremely remote chance they may say that investigations into PFC continue. Personally I will be very very surprised to see this, but its not impossible. (I would favour sticking a grand on a 200-1 outsider in the National)

If the SFO does conclude the investigation, then what for the SP?
An automatic jump to £1.70 which is where it fell from after Lufkin admitted 3 further charges?
An automatic jump to £3.50 which is where it was when Lufkin admitted charges?
An immediate return to £4.50 which is where it was when Lufkin admitted charges?
(See how the same news has effectively been responsible for the numerous drops)

I suspect we will see a decent rise, but it may not come tomorrow.
Firstly the legal eagles at the SFO will want to ensure the right message is portrayed and not be seen to rush it out.
It could be after the weekend.
But we also know from history that the SFO like to drop announcements at 4.00 - 4.30pm on Thursday evenings.

Going to be fun fun fun... :-)

[pepepepe73] 10/2/2021 19:23

Your bets for tomorrow?

Stock price 150?

[leoneobull] 10/2/2021 18:32

Time to investigate the SFO for corruption?........."It was no coincidence that just 2 days before the investigation was announced on 11th May 2017, two financial institutions increased their short positions substantially. Was it ever investigated??? What do you think?"

[auson1] 10/2/2021 18:23

Cybernest53,

The 177k was the UT but in addition to the 200k at 122.11 there was 258,904 shares at 123.18 this morning.

So over half a million £ probably just taken off the shorts positions, still a lot more to go.

[pepepepe73] 10/2/2021 17:20

Tomorrow the cards will be on the table.

Good luck to all.

[cybernest53] 10/2/2021 17:04

@MickinVest Ah.. my apologies to you and plunger2! Obviously I missed those posts in amongst all the other babble! ;) Thanks MickinVest! 👍 Oh well, if a thing is worth saying, it's probably worth saying it twice! 😁

[mickinvest] 10/2/2021 16:45

Surprised you don't read the board Cybernest! lol

plunger2
9 Feb '21 - 09:01 - 16343 of 16399
0 3 0
More good news



MickinVest
9 Feb '21 - 09:12 - 16344 of 16399 Edit
0 0 0
Cheers plunger

Good to see they have moved into Australia for first time, took a few this morning and volume looks a lot better than yesterday.

[cybernest53] 10/2/2021 16:39

I'm surprised no one picked up this announcement yesteday!

"Petrofac to deploy global decom expertise in Australia, in contract first
Petrofac’s Engineering and Production Services (EPS) business has strengthened its presence in Australia, having secured a Well Project Management contract in the country with PTT Exploration and Production (PTTEP).

Under the terms of the agreement, Petrofac will provide all project manpower to enable the execution of plug and abandonment operations on two of PTTEP’s remaining subsea wells in the Vulcan Basin, located in North West Australia. Work will include detailed planning, procurement services including tender for a semi-submersible rig, and management of operations and sub-contracted services.

Today’s announcement builds on Petrofac’s ongoing expansion in Australasia and reflects the continued global growth of its Well Engineering capabilities.

Commenting, Nick Shorten, Managing Director for Petrofac Engineering and Production Services (West), said: “The award of this contract is testament to our track record for delivering Well Engineering and decommissioning services for our clients globally. Our teams have operated in Australia for more than a decade working on some of the region’s largest energy developments, but we are particularly excited to be deploying our Well Project Management capability and expertise there for the first time.

“When it comes to decommissioning, we understand the focus on cost and schedule is as important as ever. We look forward to working closely with PTTEP to deliver a safe and predictable plug and abandonment campaign.”"

Source:

It shows there is no lack of confidence in Petrofac's ability to win contracts.. and this is a 'first' for Well Project Management down under, so bodes well for more to come! Annoyingly, no mention of how much the contract is worth!

[mastersmix] 10/2/2021 16:28

Adding more in the close

[mastersmix] 10/2/2021 16:19

Desperation:)

[oakville] 10/2/2021 16:08

No chance. Be long gone by then.

[sbb1x] 10/2/2021 15:36

This will be Back to 300 this year and400 next year

[sbb1x] 10/2/2021 15:35

Oil going much higher, plenty of work about for pfc imoLovely draw oil draw#GKP#PFC#EIA Report#Crude: -6,644#Cushing: -0,658#Distillate: -1,731#Gasoline: 4,259#Production: 100#brent #OOTT #Oil#oott