Petrofac Share Discussion Threads

[wardy333] 19/2/2021 13:23

plunger2... thanks for that, obvious that Lufkins barrister wants the case thrown out, only trouble is the date is June hence the shorts still in play,.

[plunger2] 19/2/2021 13:17

So there is to be a directions hearing for Lufkin on 21 June 21



So why was the poor fellow not sentenced? Well it seems extremely obvious if there is to be a directions hearing:

Directions Hearing: a hearing for the judge to review the case and consider whether there needs to be further information or action taken by the parties.

You could hardly make it up. The SFO are in denial, they're in big do doo and they know it.

JMHO

[plunger2] 19/2/2021 12:21

I would guess the SFO are praying that their case against Paul Bond (Unaoil) gets a guilty verdict. The case has been continually held up for legal submissions but is very near a conclusion:



Previously a judge has whacked Lisa Osofsky's conduct



The SFO is clearly not fit for purpose and could face stunning litigation for misconduct following the KBR business etc. The Treasury needs to clip its financial wings.

Being short here is like russian roulette. The bullet is the SFO. If that explodes it will be a minor GameStop for shorts. Someday.

JMHO GLA

[fizzmiss] 19/2/2021 09:14

Fully agree and have said for many years, the stock markets are run by crooks and if you invest accordingly you won't go far wrong.

Makes me titter when I hear investors taking note of Goldman sucks recs to buy into a sector lol. Anyway thats another story.

But yea, whatever will happen will happen, but at the end of the day once it's sorted this will soar.
IMHO

[lowtrawler] 19/2/2021 09:10

As far as I can see, if the SFO "think" a company is guilty, they will simply keep the investigation open until the company is willing to enter into a sizeable DPA. It's a protection racket that the Mafia would be proud of.

[dealy] 19/2/2021 08:36

true. that is one of the possible outcomes. question is how do investors (and shorters) view the probability of outcomes over time

[pepepepe73] 19/2/2021 08:25

SFO can delay its decision for another or several years. Who knows when it comes to SFO

[dealy] 19/2/2021 08:19

makes you wonder if they don't have some kind of insider angle

[wardy333] 19/2/2021 07:43

Looks like CapeView opened anther short when the price hit £1.35p levels Tuesday, still nothing on the SFO case, the mystery continues.

[twixy] 18/2/2021 19:36

DMF - thanks for reminding me: I sold out at 1.88, having though I had done well :-(

[dmf] 18/2/2021 19:16

Interesting that Glencore has both SFO and DOJ investigations into allegations of bribery in various jurisdictions....yet the share price has performed strongly over the last few months...Oct 20 185p and currently trades at 288p !

In addition 30% of the revenue of Glencore, is generated from its coal mining operations !!

[pepepepe73] 18/2/2021 19:01

No other company is gonna take over PFC while SFO's sentence is unclear.

It's a catch-22

[twixy] 18/2/2021 18:48

The business has assets of GBP10M with a turnover of GBP 400K and broke even. If it was sold at book value, it's a good deal.

[pepepepe73] 18/2/2021 18:46

A potential SFO's sentence is a huge cloud of uncertainty over PFC stock price. That's what is happening with PFC.

It's really hard to understand the shameless SFO's behavior.

[twixy] 18/2/2021 18:39

Cape View are obviously enjoying themselves; another increase in their shorts:https://www.shorttracker.co.uk/company/GB00B0H2K534/

[pepepepe73] 18/2/2021 18:00

I expect oil price will be weak next days. The ramp upwe've seen is unsustainable.

PFC can go down to 110p easily in case oil price drops 5€.

[fizzmiss] 18/2/2021 16:44

Should recover some tomorrow.

[lodgeview] 18/2/2021 16:27

They will drive it as low as they want. It is they who are in control, all above board obviously.

[wardy333] 18/2/2021 12:54

They are slowly getting this lower, nearly time for the shorts to close, just one good RNS and they will be history.

[minsky] 18/2/2021 12:07

Of course there is the view that the "global elites" have it in for the legacy energy business and actively want companies to stop producing CO2 or go out of business. The SFO may be supporting forces behind the scenes.

Mark Carney, UN special envoy for climate action and finance and ex governor of the Bank of England warned "Companies and industries that are not moving towards zero-carbon emissions will be punished by investors and go bankrupt".

[lowtrawler] 18/2/2021 11:53

pepe, delay and damage is the strategy for the SFO. They have always been on dodgy legal territory in their investigations which is why the corporate investigations rarely go to court. They figure that so long as the investigation is open, it is harming the companies concerned and so the more likely they will be to enter into a DPA.