Member Info for AD66

https://www.securitiesfinancetimes.com/securitieslendingnews/regulationarticle.php?article_id=225984&navigationaction=regulationnews&newssection=regulation
https://www.gov.uk/government/consultations/short-selling-regulation-call-for-evidence

I could not disagree more Pokerchips. Buying represents a positive endorsement however it is accomplished. A shorter always has the option to walk away.. If the retail investor is permitted to buy and sell shares, that investor has the right to protection from increasingly dark arts. It is almost impossible to counter the loss of sentiment and panic that sophisticated algorithmic shorting, often accompanied by innuendo and false rumour creates. Petrofac may not be flying high but the company has yet to tell us it is in trouble. I do not know what a fair price for Petrofac is but surely it is up to regulators to create a fair market for everyone

Oops RB. I had Snapper 10 on filter. Didn’t realise you were quoting him as tax dodging etc

You put the knife in with that comment. Why not get out altogether?

Worth listening again to Sami’s breakdown of the difficulties involved in bidding at the moment, and Adnoc’s approach as per the August update.

Did you just buy 2.2ml shares Paddy? Somebody did.

https://oilreviewmiddleeast.com/industry/petrofac-wins-new-oman-business

When it looked like the price was getting away from them, they flash crashed it with 273k sell.

Thank you. Thoughtful response.

GIlljoe, what is your opinion on the manner of this announcement ?If you work in the
Oil business or related, how was Sami regarded?I guess there are many reasons why a well seasoned oil man might decide to go.

This company has had its problems and oil is a cyclical commodity. Many hedge funds have long / short strategies to time the market and the argument is it increases liquidy. However there is something morally bankrupt to pick on a company which all the metrics suggest has a decent future, because low volume and no stamp duty, make it frighteningly easy to manipulate. It ruins sentiment in the company, almost to the point of making it uninvestable which I guess is the aim.

https://www.energy-pedia.com/news/united-kingdom/%C2%A320bn-to-be-spent-on-decommissioning-north-sea-oil-and-gas-installations-in-the-next-decade--predicts-offshore-energies-uk-189716 PFC may get lucky here

If you have access to trading patterns you will see this is a shorting attack aided by the uncertainty created by the RNS. They see an opportunity to recover losses when they attempted to short from the mid 90s and as usual, PFC has obliged. It pains me that us long termers have suffered while these sharks have made between them hundreds of millions due to the SFO/PFC fiasco. Interestingly it is now being suggested after a review of how the SFO operates that they should no longer persist with investigations that require investigation over multiple years.

The shorters are playing around here. They have some positions around the 94/95p mark so they can’t let the price get too far away. Poor volume is their friend

https://www.oedigital.com/news/500426-cosl-bags-1-92b-worth-of-offshore-drilling-service-deals-in-middle-east

The truth remains the company has not reported any major wins and perhaps its price may even reflect fair value at the moment. Lowvolume allows the shorters to ply their trade. PFC has always been easy pickings for them with its volatilitlty even in the good times. I suspect they may sense/know that announcements are delayed as GLG seems particularly well researched. We can hope for an Ocado moment!

Norwegian gets a broker push

https://www.cmcmarkets.com/en-gb/opto/petrofac-share-price-hit-by-negative-fitch-rating
Not all gloom but a very slow recovery

https://www.morningstar.com/stocks/xlon/pfc/ownership

There is a lurking fear that the market may actually be oversupplied in 2023 if recession and demand destruction occurs. However this is a share that has been played with for many years by the hedge funds who have made eye watering profits. Glg, the current shorter ( particularly adept) increased at £1.31 and worked hard to get the price down, assisted by the sell- off. The same is true for Wood Group. The shame is should good news come, the price would probably struggle to make much headway. Nothing for it but to hold and hope.