Petrofac Share Discussion Threads

[ammu12] 17/3/2021 08:25

How many top ups have you had ? Everyday you keep saying the same Shyte about top up blah blah.... sometimes it's best to accept if you got something wrong.

[topazfrenzy] 17/3/2021 07:51

I'll be adding on any further weakness, this saga is reaching the end

it could be time to back up the truck ..

[midasx] 17/3/2021 07:47

Exactly wallywoo!

The SFO have dropped the share price 90%, virtually destroyed the company and are preventing them bidding on new contracts.

Are they going to finish them off with a huge fine?

They could make better use of their time investigating the PPE contract awards based on MP recommendations!

[wallywoo] 17/3/2021 07:40

It's very unusual for a country UAE to issue a statement like that. The timing is also interesting. I wonder if it is being used by pfc to lower any potential fine by the SFO.A line has to be drawn under this soon. Have bgt a few at these levels, I think this will turn soon.

[dealy] 17/3/2021 06:47

The amount of value being assigned purely to this bribery case (against former employee not the company) is increasing every day. That's because the normal state value of the company (due to oil price and surging markets) is rising daily and should in theory be close to an all time high. Yet the actual share price is at an all time low.Ergo at least 400p and maybe 600p of value is being attributed purely to the bribery case and its potential consequences. That is utterly ludicrous for something that will carry a maximum fine of 200m.

[leoneobull] 17/3/2021 05:17

Malcy's blog 1 month ago on Oman wins"It does not surprise me that PFC has made significant progress in Oman, when visiting with them a little while ago it is clear that PDO has immense respect for PFC from the top down. Despite the witch hunt by the SFO I expect the company to in due course win substantial new contracts which will dwarf the £400m market cap."

[leoneobull] 17/3/2021 05:00

Many newbies here. 1 month ago, PFC landed two new contracts in Oman worth 300mHttps://www.rigzone.com/news/petrofac_bags_2_deals_worth_300mm-04-feb-2021-164524-article/Sure, adnon news bad news, but they have plenty of other markets

[leoneobull] 17/3/2021 04:41

Any fine would be paid off over several years. Any agreement on a fine would paradoxically see a spike in share price IMOV as it would clear the waters for future growth in a much higher oil price environment. Dont forget PFC traded at 350 to 400p pre CV19 and that was WITH SFO investigation.

[stockready] 17/3/2021 00:22

Mega

You got a good point there and i agree
But sometimes things doesn't work like that for various reasons
Reasons which we might find out later

[willie99] 16/3/2021 22:02

Did anyone notice that Wood issued there results today. Apparently they have settled some legacy bribery cases(Unaoil)with the SFO and Scottish authorities, and made substantial provisions(>£100M) to settle claims from US and Brazilian authorities. Maybe PFC will do the same.

[geckotheglorious] 16/3/2021 21:31

Leoneobull
Post 17037
"Fantasist....."


Leoneobull is clutching at straws....

Just as she was over Brexit


Ah bless !!!

:)

[currencytrader1] 16/3/2021 20:03

Now I know the share price will rise, you just need to read the desperados comments on here.
Happy days!

[mega bozzer] 16/3/2021 20:01

Stockready

My bad, I sounded obnoxious. There can't be a positive spin in such bad news, it's best to be as frank and honest as possible. Best to bite the bullet, so people understand the worst case scenario.

If it turns out to be better than the worst case, market will act positively. This share was trading 1760p in 2011. Shares do not crash by 90% if market believes in it. The market is head of the curve, but bond market is usually ahead of the stock market.



ATB

Mega

[big momma] 16/3/2021 19:58

Thanks Pogue

[stalker_boy] 16/3/2021 19:41

Let the shorters have their day.

Other net exceptional items of US$13 million (post-tax), including Group reorganisation and redundancy costs and SFO related legal fees.

SFO INVESTIGATION
No charges have been brought against Petrofac, or any officers or current employees. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate. We are focused on bringing this matter to closure as quickly as possible and believe this is in the best interests of all stakeholders.

They are fighting it.

[pogue] 16/3/2021 19:27

big momma
there was an RNS on 1st Feb so there's £300m for a year which would help, unlikely any fine would be all at once staged payments I am sure would be agreeable.

COVID CORPORATE FINANCING FACILITY
Petrofac has today issued £300 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.

[big momma] 16/3/2021 19:02

Do they have money to pay a £500m fine?

[mega bozzer] 16/3/2021 18:53

More idiots will be appearing everyday, telling the whole world they bought in, and to see crashing every day for weeks now.

[mega bozzer] 16/3/2021 18:51

Of course they did. It's materially sensitive information, mugs do not even know it's a regulatory obligation.

Clearly it gonna affect them materially from now on, and possibly others will be cutting them off, and that's why the market is thinking ahead.

Come back for the dead cat bounce at 5p-6p.

[stockready] 16/3/2021 18:48

Sbb

You are right perhaps didn't need to publish that RNS with that wordings UNLESS they know there is another news in the pipeline and this created opportunity of top up.
I am going to bet you we will get another RNS other than the results in April with bulish news in the coming days or next week.

GLA
IMHO

[mega bozzer] 16/3/2021 18:44

Every single mug holding this sick puppy is losing, as it closed the lowest price ever. Your temperature will start rising rapidly as shorters know everyone is in red here.

Chancers rolling the dices, it will end in tears.

[eodfire] 16/3/2021 18:37

Good call. Definitely a possibility.

[stockready] 16/3/2021 18:35

Sbb

You are right perhaps didn't need to publish that RNS with that wordings UNLESS they know there is another news in the pipeline and this created opportunity of top up.
I am going to bet you we will get another RNS other than the results in April with bulish news in the coming days or next week.

GLA
IMHO

[currencytrader1] 16/3/2021 18:28

Is he called bad robot??
Bloke or women must be having a laugh, I imagine they are 15 and will be called down soon as teas ready.
There should be age verification on these platforms..