Member Info for bob-hope

Hi Jim, You forgot to mention the 1.5 Billion dollar fine which needs to be paid also, This i presume needs to be settled before any oil flows to Turkey ?

I expected a better update than this, lower figures from H1. Oil price now 66 compared to 70 last H1 , expect some downward sp pressure today.

Drifting back to 50 - 55p range, US pressure not working.

this ****e of share still trading?

As IQE is alrady a supplier to BAE this is positive news.

https://www.nytimes.com/2023/12/11/business/economy/biden-chips-bae-systems.html

https://www.reuters.com/technology/us-plans-35-million-award-bae-boost-chip-supply-f-35-2023-12-11/

Hello Gotrader,

Interested to hear your thoughts on this also as i have been following your recent research and posts with a lot of interest. It seems like this is only going one way with the support resistance increasing on a daily basis. Are Canaccord still buying ? How do you see this playing out, many thanks.

Down due to lower oil pices, its across the board. All oil stocks down.

Cheshire lad- If you read my previous posts you will see that im an investor here and made a recent purchase at 21.50 just few days ago. I though this would be rangebound at 21-23p but i was wrong unfortunately. You are wrong to think im deramping this with any negativity as Im sure all investors here including yourself deserve to know the real facts. Hence the reason why i asked if anyone contacted this reuters reporter for verification.

Thanks Cheshire Lad,

Trading view article- yes this one is down. The other one still up. Here is the link

https://www.xm.com/research/markets/allNews/reuters/petrofac-sinks-to-record-low-analysts-flag-balance-sheet-concerns-53708671

Its also on another share chat as well, ADV**

Did anyone contact the reporter Yadarisa Shabong at reuters for verification ? The link has not been removed i can still access it on the original post here.

Sorry to hear of your loss Elgrebe and all other SHs here but its only a paper loss until you hit that sell button, hold on tight and wait for a recovery. Petrofac too good a company to go under. Lots of work and multi million dollar contracts in the pineline for 2024.

Someone here mentioned GKP an oil company once trading in the pennies from a steep 90% fall due to liquidity issues, they recovered to a high of £4. Have the faith and good luck to all LTSHs

PFC Vet

Chin up my freind, you will recover with other investments im sure. This is learning curve that nobody predicted

Interesting point Mommur but i cant see a fund raise as the share price is low enough right now, cant see the management discounting the price any further now. My hunch is asset disposals or farm-in for cash flow operations.

1Billion market cap who knows, but i can see 50 Million mcap short term and 250 mcap medium term as a realistic figure for now.

I tend to agree having all the eggs is one basket is a big gamble, nothing to fall back on just in case?

What was wrong with the Mexico assets ? Had a big discovery there..

Absolutely Deeko. The Japex deal with funding ready for future deals is key here. Im sure they are working on more production and farm-in deals as we speak. Japex is a very shrwed multinational company part owned by gov of Japan and they would not have invested 150 million in financing and investment if they had any doubts with the management or LBE prospects.

Malaysia looks very promising esp with Menzies and Eliet expertise on board. They both set up Topaz as they believed in this., (Menzies being the CEO of Salamander back in the day) We need a farm out and it will happen especially with low overhead margins in Malaysia once any significant gas discovery is made. This Kertang prospect in Sarawak is renowned for exploration success in recent years. DYOR

Honestly i cant find any other better small cap growth prospects than this. Good luck to all LTHs.

Looking forward to see this play out in the future and contributing with you smart investors :)

Talies,

The market now is in a wait and see mode, whether or not PFC financials covenant cashflow credit OP legacy contracts etc has improved or not since last financials/trading update. Hence my prediction of 21-23p rangebound.

SP is down due to shorters taking advantage of the above and past PFC RNS statement. There is no leaks otherwise we would of known about this in the press. Its just speculation and hearsay.

However i cant see any major muti-million dollar contract news announcements at COP28 due to the recent press bias about the planned UAE oil deals at the summit, Hence no significant share rise for now.

Dec20 is key and very important. Basically this next trading update will either make or break PFC, put us into the 40-60p range or drop us back significantly if the news is bad.

Toss of a coin really but im an optimistic and think the news will be good. banks and the government will not let this go under PFC too important for the UK economy and north sea contacts. The only risk is dilution but i cant see it as the directors and shareholders are very heavily invested. My hunch is they will buy significantly more shares after the next trading update.

He is right a 1p swing here or there is nothing to read in to or get too excited about. This stock has been bashed pretty hard past few weeks BUT i believe the worse is over. I cant see anything like the drops we saw earlier this week and it wont significantly rise either until next trading update. 21-23p seems the likely scenario for now until next RNS.

Actually Talies im not short on this, waiting for an entry price.

I think this will be rangebound between 21 to 23p until the next trading update.

Roxi you have to keep an open mind, hiccups do happen and you need to look in the mirror and sometimes be honest with yourself. Its not all rosy here . A lot of investors here are probably in the wait and see mode.