Member Info for Ammu123

Hi manu, it’s been mentioned already on this board....

Engadine Partners LLP 0.53% 0.18% 28 Jan 2021

Not sure why they would increase short on pfc ??
Strange for a shorter increasing with so much media attention.
Interesting....

Excellent post Squif...

Kitty,
What do you reckon results will be like in Feb ?
Will pfc be making any profits in H2 ?
I am just posting rns information from the last update and trying to get some clarity...

Dec update:

Financial performance in the second half of 2020 has continued to be impacted
by COVID-19. In addition, lower oil prices coupled with the uncertain
near-term outlook have resulted in a wide-ranging delay in the award of new
projects across the industry as well as in a more challenging commercial
backdrop. As a result, management continues to expect to report lower Group
revenue of approximately US$4.0 billion and full-year profitability materially
lower than in 2019. The Group also remains on track to reduce gross overhead
and project support costs by at least US$125 million in 2020 (2).

Looking forward, it remains unclear how long business activity in our industry
will be impacted by market conditions. Low order intake over recent years will
result in a decline in revenue next year. The Group has therefore announced a
further set of measures to right-size the organisation. These will result in
total estimated gross savings of US$250 million in 2021, which will seek to
protect the business from lower revenues and ongoing pressures on margins.
These actions will also create a leaner, more competitive business whilst
preserving our core capabilities.

RESULTS FOR THE SIX MONTHSED 30 JUNE 2020

-- Continuing to safely execute our projects and operations worldwide
-- On track to deliver US$125 million of cost savings in 2020 and up to US$200 million in 2021
-- Trading and awards materially impacted by COVID-19 and the sharp fall in oil and gas
-- Reported net loss (2) of US$78 million
-- New order intake (3) of US$1.0 billion year to date
-- Net debt (4) of US$29 million at 30 June 2020
-- Announcing net zero emissions target and 30% gender diversity target by 2030

If true that’s not impressive....

Fair enough my bad. Apology to Pelle.

#GKP Cash = £107M owed £53M, Total = £160M. Producing 43K boopd at a $2.7/bbl opex while 2021 capex is only $15-$20M. I’m expecting 2021 profit in and around £100M at $50 oil whilst the market cap is £281M with £72M of debt. ???????

Pelle
Posted in: ENQ
Posts: 3,036
Price: 12.40
No Opinion
RE: What if there is no progress on debt ?30 Jan 2021 12:34
Romaron Squif, yes AB didn’t deliver last update because poor panic hedge and a lot interest cost was taken July-Oct.
Now Nov-Jan should be Enq best period and I expect AB deliver 100m FCF.
Any other estimates?

Pelle
Posted in: ENQ
Posts: 3,036
Price: 12.40
No Opinion
RE: What if there is no progress on debt ?30 Jan 2021 12:34
Romaron Squif, yes AB didn’t deliver last update because poor panic hedge and a lot interest cost was taken July-Oct.
Now Nov-Jan should be Enq best period and I expect AB deliver 100m FCF.
Any other estimates?

#GKP Cash = £107M owed £53M, Total = £160M. Producing 43K boopd at a $2.7/bbl opex while 2021 capex is only $15-$20M. I’m expecting 2021 profit in and around £100M at $50 oil whilst the market cap is £281M with £72M of debt. ???????

Mark bell,
You’re living in a bubble if you reckon divi will be announced in 2021. I doubt even in 2022 unless things drastically changes...
Currently the company is fighting for its survival.

Hi Pokerchips,
Can you share the post please ?

Hi Mark,
Around that time:
Tullow was 400p++
Pmo 250p++
Enquest 50p ++
And your point is ?

I don’t MrC.
It’s what the experienced and knowledgeable posters think....
1250m debt end of dec and sp of 15p hopefully

RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2020

· Continuing to safely execute our projects and operations worldwide

· On track to deliver US$125 million of cost savings in 2020 and up to US$200 million in 2021

· Trading and awards materially impacted by COVID-19 and the sharp fall in oil and gas prices

· Business performance net profit (1)(2) of US$21 million

· Reported net loss (2) of US$78 million

Net loss of 78m for h1
So about 150m loss for full year ?

So that’s from brokers and not from the company.
Current mcap of pfc 420m ++ vs gkp 283m

Hi poker chips,
So net profit without exceptional which would eventually make it making another loss for H2 2020.
I can’t seem the find the 42m net profit one of the other poster stated from the last trading update:

Financial performance in the second half of 2020 has continued to be impacted by COVID-19. In addition, lower oil prices coupled with the uncertain near-term outlook have resulted in a wide-ranging delay in the award of new projects across the industry as well as in a more challenging commercial backdrop. As a result, management continues to expect to report lower Group revenue of approximately US$4.0 billion and full-year profitability materially lower than in 2019. The Group also remains on track to reduce gross overhead and project support costs by at least US$125 million in 2020 (2).



Looking forward, it remains unclear how long business activity in our industry will be impacted by market conditions. Low order intake over recent years will result in a decline in revenue next year. The Group has therefore announced a further set of measures to right-size the organisation.

MrC what’s your expectation?
Pelle reckons 1250m year end debt and obviously a lot more knowledgeable than me hence I stated 1250m...