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Half year results still going to be important here. Worth noting the impact of COVID on this lot has been big. They took a loan from government during this period also. Oil and gas downturn also a major issue going forward, especially in North Sea. They are still very reliant on that sector, despite some attempts to position away from it. And a lot of the big contracts they'd be suitable for here are a good few years off yet, 2027-2030 for a lot of the energy transition stuff to even really get going.
Also, every oil company asks about conviction over last X years. So they will still be declaring this issue for a good few years and it may still give them headaches.
Still a lot of work to do to turn this back around.
DYOR
Nothing is a bad as the hangover of the sfo, for this SP. If this is put to bed, and I still use if, this is heading up much higher, I expect it to go through the years highs by year end 190 ish with a good wind and the smell of incinerated shorts in the air.
GLA
We may see 190 this week with a lenient fine, closure of the SFO investigation and a delicious short squeeze. I’m genuinely excited for the week ahead. Another 25% tomorrow?
firstly you are an idiot to talking about bumps on the road. No stock takes off without bumps.
US is on steriods and will have to come to earth as many tech and other companies are falsely valued.
O&G sector is very busy since the last 6months ( i know because I work for a major)
PFC is a service company and even with energy transition projects, PFC are in demand for years to come
so stfu
Companies like Petrofac will be needed yes, oilhead, you rude, blinkered nugget.
Will they win the work or is asking about recent convictions not usually on page one of the bid? Have you actually see one of the O&M or EPC tenders, guess that dep[ends how major or minor you are in whichever one you work at!
Will they get the lump sums wrong again and cost themselves more money?? How much debt they already in? Those were my points and why I mention the half yearly's.
I've bought in as I see an upside long term, stop being a tube and allow people to discuss both sides of the coin!
There's still short term risk IMO.
I'll make sure I bow to the big boy working t a major next time though! ;)
Ha! Well my fairly chunky buy order was put in place on Friday evening. So you could say technically no, but in all reality yes. I have no plan to cancel it, so by the time my first meeting is done tomorrow, the shares will be in my account.
I just laugh at those thinking we'll have it back at all time highs by Christmas as in reality, it may never get back up there and suspect quite a while longer to get the the multiples some are suggesting in the short term on this board.
Do your own research and good luck all!
what price is the buy order at?
TMI on a public board, especially this one Paddyboy. Why d'you ask?
because it must be at quite a high level to be confident the order will be filled. Seems a bit risky to me better to wait for market reaction i would think but up to you!
i doubt we'll actually see a tradeable price here for a few minutes after opening. MMs will fill their boots first!
I never said what time my first meeting was at paddyboy ;)
looks like very smooth this morning at 148p
WOWOWOWOOWO
I thought it'll open at 150p, I was a penny off.
Buyers are kicking in quick at every penny profit taking
A small fine , one big job and we will see PFC flying.
Was expecting 161 at end of day.
Does anyone know what happened to the ADNOC job which was held back from PFC ? Was it awarded to anyone else ?
There is a gap to fill around 270,p in the charts
Please find below link for further explanation
https://www.petrofac.com/media/news/update-on-uae/
IN AUCTION
Live price 157.74p
Imagine the explosion in the price if the fine is small!!!
WOWOWOWOWOWOWOOWOWW
going MENTAL now
Size of fine is a red herring. When previously rumoured that a deal we struck the SP rose 70p in a day without talk of the size of fine. What ever the fine we have a way forward that along is worth a return to £2. As for the fine this would have been discussed prior to Plea Bargaining otherwise no company would be in its right mind to do a deal with the SFO. I am sure as previously posted the government loan which PFC received could be used to offset this. Plus and don't forget all those large Divi's we haven't had maybe in a reserve bucket Onwards and Upwards long termers and everyone .............................
Starting to fizz.