Petrofac Share Discussion Threads

[comedy] 11/2/2021 15:12

sfo not updated their site!!!

[comedy] 11/2/2021 15:10

Page published on 12 May 2017 | Page modified on 14 Jan 2021

[milanista11] 11/2/2021 15:07

Has somebody considered that Lufkin will sing a song at court?

[bracke] 11/2/2021 15:05

Read the last paragraph in the link.

Irrespective of the sentencing of David Lufkin the investigation continues.

[wardy333] 11/2/2021 14:49

The lower this drops the greater the rise will be when it turns, thought this might happen on sentencing day, shorts were banking on it, however this day is over soon and the next few trading days will tell a very different story hopefully.

[plunger2] 11/2/2021 14:10

Was Lufkin sentenced at all?



The case was only listed "For mention". Explained below.



If the SFO don't update us they should be reported to the FCA for allowing a false market.

JMHO

[milanista11] 11/2/2021 13:53

wigwammer
PFC has an outstanding record of project fulfillment and Saudi Arabia and Iraq were big operating areas with billions of juicy order intake. Since the bribery investigation no order intake from this area where investments are key to sustain oil output at the lowest costs word wide. PFC suffers heavily from this situation. The Chinese are now there and have established a strong foothold.
PFC makes offers for projects worth of more than 35 billions and takes in only barely 5 billions per annum. Without this SFO investigation the intake would be considerably higher and the profits far better thanks the scale effect.

[chardy1] 11/2/2021 13:32

Mexican Standoff. The stress is killing me. Just tell us already.

[topazfrenzy] 11/2/2021 13:07

Expect a sudden surge in the share price when you stop looking, could start before close today or over the next few trading days

[dolittle1] 11/2/2021 12:43

5 yrs in prison.

[wardy333] 11/2/2021 12:42

Wonder what the sentence was?

[csj0hn] 11/2/2021 12:37

Hearing finished for DAVID LUFKIN - 12:09

[wigwammer] 11/2/2021 12:25

Your = our

[wigwammer] 11/2/2021 12:24

Or is it to clean up the act of a U.K. company allowed to operate in a foreign jurisdiction? If your military misbehave overseas, we would expect to be materially responsible for sorting it out. Fine line, IMO.

[plunger2] 11/2/2021 12:18

The thing to remember in all your assessments of the SFO powers is their recent STUNNING defeat in the Supreme Court in the KBR case.



It's going to make obtaining evidence from non-resident companies very difficult. Until the law is changed - if it is - they have big problems with the multi-jurisdiction cases. And why change the law? Just to clean up some foreign countries act? There is no limit to the stupidities of HM's Govt but Lisa Osofsky's Team ain't beyond scrutiny themselves.

We'll see. DYOR.

[ttny2004] 11/2/2021 12:08

That's what I thought. But the more information one has at hand the more informed decision one can make.

[wigwammer] 11/2/2021 11:57

Collapsing oil price impacted operations and sentiment and top line has fallen. BUT... oil price has since recovered strongly. Nothing in the current equity valuation to reflect the latter - potential recovery in contracts and sales.

[ttny2004] 11/2/2021 11:52

For those of you in the know I can see the SO dropped from highs on 2012 and you can see from 2017 dropped considerably further.What were the reasons for drop up until 2017?If it just this legal proceedings that have effected company since or are there other factors in play.New to this share and gathering research before making an investment decision

[wigwammer] 11/2/2021 11:38

Re opioids case. Indivior has tripled off the lows over the last year.

[dealy] 11/2/2021 11:31

That SBM case is scary. Too many authorities in different jurisdictions trying to get the boot in. If there isn't some sort of cap on claims then it becomes impossible to run the company. So you settle with the SFO only to be chased by say the French equivalent. Clearly no company can operate in such an environment. This is what happened with the Opioid claims in the USA last year. A chain of claims.

[knowing] 11/2/2021 11:15

I wonder if PFC were just caught up in the mess without their knowing. We shall see what transpires.

[paa65] 11/2/2021 11:07

Not sure we'll get SFO news today.Those who are well versed in the PFC saga will know that it all started with SFO investigation in to agents called Unaoil (PFC were one of their biggest customers). The SFO show their Unaoil and PFC cases as being linked investigations At an SFO trial last year, involving Unaoil and their client "SBM offshore", two Unaoil employees were convicted, but no verdict was reached on the SBM employee (Paul Bond) and a retrial was set for him for January.I note on the court list someone posted earlier, that the trial of a "Paul Bond" is part way through.Hope I am wrong as I hold PFC and want to see a good recovery, but why would SFO close the case when they still have ongoing court action on a linked case?

[mastersmix] 11/2/2021 10:56

Short positions closing on that dip???