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Galveston
I know what you mean about sharing a beer with like minded people.
I have been trading on my own for 13 years or so..its a lonely game....
Three years ago I met up with four other guys from all over the country...essex,cornwall,glasgow, Manchester and London...
We now meet annually in the Midlands and i have to say its been extremely useful and worthwhile experience
Regards
George
the shorters at a yearly all time low. 2.25 % .
Love nothing more than to have a beer with like minded investors over this stock., believe, stay strong, and for god sake don’t sell !!!,
For me, SP wise there is a simple comparator & that is Wood Group. Slightly different i understand but similar in many ways. In the months prior to Covid their SPs were pretty much at the same levels. That was with SFO on PFC's back. SFO has now gone. Wood is now trading around 230. Why? IMO ADNOC suspension & probably others reticence to work with PFC. 2 weeks ago that stumbling block was removed (i.e SFO resolved & only small fine not a crippling one financially). Shorts still here but on the path out it would seem. Gazprom alliance. Gradually the headwinds are being removed from this share. The risk is diminishing & the potential rewards are looking more achievable. Let's see where this goes over the next few weeks!!
Paddy ., had a few exchanges in the past ., respect your views .,
In heavy., too heavy to comment., good luck all
i hold 40k of these shares now. my initial target is £2.50. May slice @ that point but not before. Yes i've traded these a bit in the past as it was clearly a share which needed to be traded due to all the shorting presence etc. I see this share in a very different light now SFO has been resolved. Once the dust settles, the shorts disappear & stability returns this will become a share for investment rather than the speculative toy it has become over the last year especially. I think PFC has a great leadership team & Iskander seems to be a CEO who understands the market as well as the oil industry. The mood on these BBs changes so much within the space of days but i'm not really too bothered about the doomslayers on here. I've done enough research on this business to feel quite comfortable that PFC will eventually ascend back at least some way to it's former glory. GLA
PADDy i read your thoughts and attribute some usual credibility, but are you not a swing trader??? If so this comment is a contradiction in terms is it not. In the spirit of openness I hold £100k at £0.97 . Can you reflect this spirit in your response maybe .
@PFCvetran, you are very brave for averaging down from 950p. My average is currently just over 500p odd and I intend holding for another 5 years at least. I'm not buying anymore here, not keen on putting all eggs in one basket. It will take time to regain market confidence after what has gone on for the past 4 years, but this SP will surely rise again in a few years. I'm hoping they start paying dividend next year, that will instil some confidence in investors.
PFCv, a moan is fine & i'm none too pleased about the drop either but i'm too long in the tooth in this shares game for it to overly concern me. I know the game being played here & i know that barring the mother of all disasters this is due a serious rerate. If you don't achieve your £3 target by early next year i'd be extremely surprised!
*pre SFO
Oh I’m not going anywhere until the day we hit £3 Paddy. I’ve averaged down from a post SFO all in at £9.50 to a respectable £1.84.
I’m just soooo tired of the downward rollercoaster and get fed up that it’s not yet time to fly!
Allow me my little moan ;)
PFCv, Sadly & all too often your sentiment is exactly what the short selling locusts feed upon. desparation, fear & panic. Keep the faith with this one & it will come good. Nothing has changed here from the day the fine was announced at £77m. Look back over a few months comment on this board. The fine level is incredibly low. They now have the partnership with Gazprom. The shorts have latched onto the uncertainty of the results & the possibility of a capital raise & are freely driving down the price. The markets hate uncertainty but once this obstacle is out of the way. Even if there is a capital raise & poor results, you will ultimately see these shorts closing out here & the SP rising steadily. You really need to have a mid to long term outlook here as i think this will turnaround a lot quicker than the SP is currently suggesting.
Anybody else getting that familiar feeling?
Despite getting that 4 year old weight of its shoulders. The SP is slowly sinking again, despite last week’s optimism.
I’m trying to tell myself that the half year results will help…..but for years all that’s meant is another decline in SP. I’m trying to tell myself that the “bans” on bidding in the Middle East will lift soon….but when?
Remember the SP was at £1.70 in the middle of the COVID dip with the SFO investigation being in full swing.
This share just seems to be a plaything in some game where none of us are invited and logic doesn’t apply if you don’t know the secret rules lol.
Tired of being patient……sigh.