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PC
It is not my fault you are stuffed and holding junk bonds secured on a Hail Mary of “pari passu” worthless security. Maybe if you stopped ramping worthless junk bonds and considered matters objectively you would not be so angry that you are skint. Your predictions are 100% wrong, every time. You quote non existent sources and seem to believe that if you keep spouting nonsense it will, like magic, come true!
When someone like me tells it how it is you can only resort to insults.
You were sold a pup and now you’re stuffed.
Tough.
I agree.
Again, media influence has played a bigger part here than it should have. Shock horror.
Someone has thrown the spanner
https://www.energyvoice.com/oilandgas/north-sea/552529/petrofac-asset-sale-on-the-cards-over-debt-challenges/
Kpa,
Go and do one.
I agree, once the dust has settled we will be in a much better position.
Not all doom and gloom.
It didn’t work out, equity got stuffed.
You do realise they immediately afterwards they did a 100 to 1 share consolidation so that current share price is c. 1p old money. From memory the shares were 10 times higher immediately before this restructuring
Short tarcker has just updated and shows no reduction in the 10.09% short position. None of them took the money and ran yesterday.
Looks like the shorters are betting on either a massive dilution via D4E or bankruptcy.
I got out of PFC on Monday and will stay in touch, but the prospect of a massive dilution is very real, I think.
Good luck to everyone - it's been emotional.
100p end of year, possible takeover once results and finance sorted. Looking good once trading restarted.
Sob stories and negativity still being spouted by shorters and ex employees. LTH holding and getting on with life.
no petro**** today.
great day indeed.
Gees, that’s the best day I’ve had on petrofrac for a couple of years 👍👍👍
Know exactly how you feel f-magnet! We probably both need to get more of a life.
Respect to anyone holding this
I hope you got out before you were left holding the bag, vet. We all respect you in this chat, please come back.
* set sail
Cuban_Cigar
yes... a future is definitely there for the taking ....and if there is a huge number of new shares and maybe a consolidation afterwards ( if) , with new debt linked to guarantees, then it is indeed a new beginning .... set sale in a new refurbished ship, as it were ( new shareholders owning the company, to the detriment of many previous shareholders)....although current shareholders may well now have the shares in their pockets at these low prices, having sold out previously...
No it won't. Just alot of over-reacting assisted by the LSE FUD brigade (Usual Suspects) and in-part to PFC Investor relations team. Easy enough to do with the ratio of PI's. Year end results should give SP some more clarity, and there is no option to buy/sell until they have been delivered. Could go either way. Between now and then, FUD brigade here to do their thing.
Pokerchips - Another way to look at the total revenue between now and till Q4/26 is taking the combined revenue of 17, 18 and 19 which was $17.7B then knock off 30% to give some safety margin => $12B. As I wrote, PFC did OK till SFO case then Covid. If they manage sort out the financial mess by end of Oct 24 then there is a strong possibility they will survive and flourish.
Feel at a loose end without the stress of PFC fireworks in my life, could be a long month!
There's potentially a - very - good business here going forward.. hence this process of saving/rebasing pfc.l.
With a few years patience from here and some half decently timed averaging down by me during that time, I see a reasonably good chance that my equity BET here will, in the round, be at least an OK bet in the end... and a decent chance it will turn out a good bet in the end.. and a small chance it will turn out to be a great bet in the end (eg takeover/merger or serious turnaround to a profitable / heathy debt positioned independent business )
Cuban_Cigar
OK that is fair enough .... I personally am a bit conservative on the $8B in terms of margins, when taking into consideration sub-contracting within those projects , so I see $8b more as a headline figure,myself
Your 14% bid pipeline conversion is certainly not over expecting....BUT it may not be off $44b...remember it is a "pipeline" which doesn't mean they will actually bid for everything within this "total pipeline" , maybe they will, but not necessarily ... some may prove not in their commercial best interest, which happens , for various reasons
" a total pipeline scheduled for award in the 16-months to December 2024 of approximately US$44 billion"
ATB
Most likely a takeover or heavy dillution?
Pokerchips $8B backlog + 14% of $44B bid pipeline till Dec 24 and the rest till 26 => Total revenue of $12B to Q4/26 is reasonable, IMHO.
Also PFC is a major supplier of these engineering services - their customers want price competition - take out PFC and it could cost the market easily as much or more in reduced competition and margin / cost increases from Wood / Haliburton etc. IF i was buying in large multi million contracts i would like some price competition.
It pays to keep them in the game. Thanks Blue
" based on the forecast total revenue (till Q4/26) of $12B and a profit margin of 10% "
with Tennet, they are sub-contracting certain parts, of their part of the project....so..I personally think it would be extremely unlikely to end up with such high revenues themselves or a margin as high as that ...there also needs to be strict costs control limitations built into the contract in order to preserve margin