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Took this little rise to sell another tranche of my shares, still have 50k shares which is about 40% of original holdings. I’ll probably keep these now to have some skin in the game and depending on restructure outcome may get back in.
Just have no idea how it will end but feel they’ve give us plenty of time to exit before a possible D4E, however do want holdings should they do a rights issue. GALTH
Simple question so don’t batter me! Would it be conceivable that PFC are going balls out accumulating as many contracts in order to demonstrate to the banks that any equity taken for debt will not necessary mean a harsh dilution in SP if future work load carry’s significant profit? Therefore no change in SP price regarding a possible D4E. Off to the dentist so can’t reply straight away, more pain lol..
Tuan6
the CEO of any company DOES NOT spend his/her time looking at the trading of the share and decide when to release any RNS based around that.....
The CEO is running the business and has a huge amount of responsibilities around doing so....
They release an RNS when they think it is appropriate ...
" the CEO let shorters" ......
the CEO has not the time to dance around the trading activities of shorters, bulls, bears or anyone else .... he
Extract the same I think about this company and its contacts worth many years to come. How can they let this administration and lay off thousands jobs? This is why sometimes need time to recover and this is what company doing.
I dont believe in CEO at all as he let shorters bring donw but nothing rns about this but when share on up trend he pull out bad RNS to bring down share price. CEO in group crock to teat apart this public company and carefully keep an eye on him .
Good point Joe
Hugeprofitby2030
I agree with that. I bought in before the 20th December and was tempted to sell but bought in on the basis it was a three year turnaround with an upside of four or five times investment allowing for restructuring and so on. Recently I have begun to think a takeover is possible, not probable but possible. It is interesting to watch developments as you say but I am off on my jollies so I am going to ignore everything except RNS updates and clock off.
GLA DYOR
I was following the last few days posts as I always do. I was keep hesitating to sell or keep holding… , and then this small new contract came up this morning.
I still believe that it’s just the question of time. It might will take long time, but I would not suppose they will leave a company to go bankrupt with a massive order books and contracts. It’s a nasty piece of share, but even if it’ll be years, I believe brighter days will come and we won’t regret being patient this time. All the best LTH’s
That's a huge turnaround in argument there Oilhead
Quote
"Nice!! So did I Pfc vet.
Funny thing people (should I say shorters) don’t understand is.
Business is on positive territory. Pfc are aiming for 30billion $ worth projects this year,after having secured 8billions dollars last year, well it’s not year end yet. This is the most petrofac forward book as ever been, best it’s ever been as mentioned on the call by cfo and ceo. Emirate have allocated 100s billions worth of dollars for green energy in jan2024 meeting .Pfc are their preferred contractors. UK business is winning some nice work with BP and decommissioning jobs recently.
Even if the share price falls to 20p. Most long term holders won’t bother selling to buy back again. They will simply add more. By next year the books will be balanced and will be close £1 depending on shares in issue after march etc.
If these 11.5% morons are relying PIs to sell on news or etc, they are wrong. Firstly i won’t sell and I hold close to 7 figures shares. risk savy investors would’ve already sold by now as they’d simply wait till news"
3 guesses to who said that only about 6 weeks ago?
Take it you've sold your "7 figure' sum then Oilhead?
Debt for equity is going to happen in few days
Get your money and run
This will not end well for at least few years
They have to make hell of contracts to close that debt and loans to pay which are this year at least couple of them
Fat lady has been singing for some time
Be wise
I think a few others will be thinking along the same lines. My buys at 19.7 and 22.5 on Friday looking pretty solid now, because I know a run higher is on the cards
Disclaimer is only there to hold the Share price
The company that's just awarded a 300mil contract knows what's going on at least. You don't invest 300m into a sinking ship. Due diligence performed, deemed petrofac worthy of a 300mil contract + BP are confident enough to renew their contract with Petro
I'm back in
Dan
Knowbody knows what’s going on with all the latest RNS’s but the last paragraph looks like a disclaimer. In other words they’re increasing the backlog but have no cash. D4E is going to happen but at what price?
*share
I bloody hate this year. Does anybody have any real idea what’s going on with it? Another decent little RNS Following the trash one the other day. Absolutely bloody bizarre
As an investor here, what can you do? Solid good news re contracts versus other RNS riddles????