Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Petrofac Limited ( PFC) Petrofac Limited: Petrofac secures Lithuanian refinery EPC project 27-Oct-2021 / 16:24 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Press Release
27 October 2021
PETROFAC SECURES LITHUANIAN REFINERY EPC PROJECT
Petrofac announces it has been awarded an Engineering, Procurement and Construction (EPC) contract, valued at around EUR550 million (approx US$640 million), from PC ORLEN Lietuva to support a comprehensive modernisation, environmental upgrade, and expansion programme at its Mažeikiai Refinery in North-West Lithuania.
The lump sum contract comprises engineering, procurement, construction, start-up and commissioning services, as ORLEN Lietuva invests to expand the existing refinery complex, raise capabilities, meet the requirements for cleaner fuels and improve operational and carbon efficiency of the plant. The scope of work encompasses mainly greenfield EPC development, with some brownfield modifications, as well as Front End Engineering Design (FEED) of relevant utilities and offsites. The contract includes the addition of a new residue hydrocracking facility and improvement of the existing facility. Project completion is planned by the end of 2024.
Elie Lahoud, Chief Operating Officer - Engineering & Construction, said: "We are delighted to have secured such an important refinery project within the European Union as we demonstrate our growth strategy in new geographies. Petrofac has a well-established track record and significant experience in the refining sector, as customers transform existing facilities to produce higher quality, more environmentally friendly fuels. ORLEN Lietuva is a new customer for us, and we look forward to developing our relationship as we deliver locally, to the highest global standards, on a project that is an important part of Lithuania's energy infrastructure."
PC ORLEN Lietuva is an ORLEN Group company, operating the sole refinery in the Baltic region. The Mažeikiai refinery is important to the Polish and Lithuanian economies. It is one of Lithuania's largest companies, with about 1,500 employees, of whom approximately 90% are residents of Mažeikiai and neighbouring towns. Another 4,500 people are employees of external service providers and subcontractors.
Ends.
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
Jonathan Yarr, Head of Investor Relations
jonathan.yarr@petrofac.com
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Martin Robinson
NOTES TO EDITORS
Petrofac
bro-ken-broker
Seeing you asked....
Welcome to see the RNS and that it is due to complete by 2024.
Can understand why it was kept until today (or maybe it was actually only confirmed today once the funding was in place) - as it would have been lost in the news of yesterday.
not make much difference to the SP in the short term but good news for PFC ultimately that it secured the contract.
Price predicition tomorrow, more of the same as people start selling some of their shares to pay for the entitlement rather than stump up more cash.
Depends on your view as to whether you think in the next 3 months that the SP is only going one way. I doubt that will happen.
The trend will be up into the New Year.
As for the open tomorrow, who knows but the ADR is trading down 10.95 at 1.79 from an open of 2.01 having hit 2.57 on SFO day.
Crystal ball away for the night.
xtw2
what better research than a REAL EXAMPLE...Issued as an OFFICIAL RNS ??
It isnt my example...it is an OFFICIAL STOCK MARKET ISSUED DOCUMENT
Dont trust my opinion...sure...but it isnt an opinion ... it is an OFFICIAL DOCUMENT issued to the market
I have preference to Official documents issued to the market ...time and time again...
Each to their own
xtw2 - did you read johny post below yours.
For the record, I never give advice, just trying to help correct incorrect posts.
Ask your broker? They won’t answer reliably within 24 hours, that sweet spot. Perhaps this daft company should have explained properly. Anyway definitely a buyer.
johnychainlocker
As I said earlier, your daughter would thank you.
Of course the doubters will still doubt your word here but we know different.
I will be looking for another long thread later from Paddy with a correction but will not be holding my breath.
M.
Nice example, Pokerchips. But it’s not PFC AND you’re missing the point.
Let Shareholders do their OWN RESEARCH & HOMEWORK not trust in me or you or MaryBR or Comeonvog. We are anonymous posters who should not be trusted to give out such important advice & information. That’s my point.
Check with your BROKER(S), check with PFC INVESTOR RELATIONS, check with the LONDON STOCK EXCHANGE. Get this subject off this Board.
Look at it this way: let’s say someone on here was arrested by the police for a very very minor misdemeanour relating to Share Trading. They could be innocent or guilty but the police try to persuade the suspect to accept a Caution. The suspect was given time to call a Solicitor. Instead they came on here asking for advice. Would you as a layman suggest they save time & money on calling a Solicitor ie the expert and accept the Caution? No, of course you wouldn’t or at least I hope you wouldn’t.
In writing:
“9677551 - 10
Investment
PETROFAC ORD USD0.02
Holding
3332
Status
No response required
Description
Preliminary Notice-Open Offer
Notes
Further to our previous communication, we have received an update regarding the Petrofac Limited event.
Your account will be credited with the entitlement shares on or around 28 October 2021.”
End of Story!
Mary - thoughts on new deal and opening share price tomorrow?
This answers it for me, have received email from AJ Bell in my daughters account, for whom I bought shares in Petrofac for the first time only, YESTERDAY, acknowledging that she has 3332 shares in her account for open offer.
xtw2
I tried to shut this down several times but other posters kept it alive. Yes no one should rely on any anon poster due to different agendas.
That said, I take pride that what I post is accurate when it comes to matters like this. No agenda here, no ramping, no scaring just trying to keep it real.
People on here know that about me.
Even when Pokerchips posts a real life illustration that too is ignored.
In this woke world - no one is ever wrong - even when they are.
If people engaged their brains on the basics it would make sense that an RNS posted when the market is closed (preopen on 26th) does not allow the market to react and segregate the trades.
There must be a cut off to allow the adjustment to be priced in and allow individuals to react and the price adjusted.
That is the EX date - for rights, entitlements and dividends.
There is a reason that an EX date is used.
If people are financially illiterate regarding these matters they need to do the research.
Of course Barclays Goldman etc will say the first thing that comes into their head.
I had a forensic discussion which clarified the matter beyond doubt which went far beyond the broker looking at the record date and agreeing that must be the one (ROFL as if!)
My posts were fairly polite based on the provocation I received and many confirmed what was staring them in the face all along.
It only affected the trades yesterday so it was an unnecessary distraction for a large part of the day.
Tomorrow is aother day.
I look forward to the backtracking.
Excellent illustration.
Did you run it by Barclays Goldman Petrofac and others to give them a chance to refute it?
ROFL I guess the FT is not a reliable source for the doubting Thomas here.
Nice one Pokerchips.
xtw2
i keep showing a REAL LIFE COMPANY EXAMPLE
..a REAL COMPANY OFFICIAL RNS - To explain
With a clarification from the company involved
You can see the Record Date and the Ex-Entitlement Date ..and the Company explains in order to clarify
THE RECORD DATE gives clarity as to what it is for ..it is there for all to see
Open Offer Ex-entitlement date - Clarification
https://markets.ft.com/data/announce/detail?dockey=1323-13325764-3F10R9RQPHKL9OI557N41BRCD0
It matters not a jot anymore IN TERMS OF ACTIONS THAT CAN BE TAKEN as all relevant Dates, whichever is correct, have passed.
But of course it matters to those who Bought or Sold yesterday as to whether they’re entitled to the 1 for 4 Shares @ 115p in the Open Offer.
I personally think and hope MaryBR, Pokerchips et al are wrong and Comeonvog et al are right (for all the right reasons ie why should non pre-existing Shareholders prior to the Record Date benefit from the Discounted Shares in the Open Offer when people like me have been long-term Shareholders of PFC off and on since 2018 and have supported the Stock through thick & thin). That’s certainly how I read the 3x RNSs from Petrofac yesterday including the Prospectus. But the former may be right, I conceded that in my post early this morning.
But the point is: NO ONE on here should be listening to/heeding the advice of posters on here whoever they are and however long they’ve been posting and however trusted and genuine they appear to be. Many many posters on here are ‘Wolves in Sheep’s Clothing’ ie Derampers, Shorters, Trolls, etc. and whilst they may seem helpful, often they’re only in it to drive down the SP and make a fast buck. The only posters I trust are those who want the SP to go UP and UP and UP.
Thus EVERYONE should do their OWN HOMEWORK and FOR ABSOLUTE CERTAINTY: firstly CHECK WITH THEIR BROKER(S) holding their PFC Shares (I have my PFC Shares across 2 different Brokers and will be checking with both, especially as obtaining entitlement to the Discounted Shares might be procedurally different for each) AND then CHECK WITH INVESTOR RELATIONS at Petrofac (the Telephone Number is on the RNSs/Prospectus) AND then CHECK WITH the LONDON STOCK EXCHANGE.