Member Info for Bob182071

Sorry James, need to be clearer next time.

This is for @johnnychainlockers benefit.

Honestly man, I don’t know if you actually hear yourself, wow if you don’t. You radiate a lack of self awareness with the way you word your messages to people and expect any kind of response. Fair play to others that don’t respond I say.

Deal with people like you at work all the time. Tone it down a bit with the air of superiority and snideness and perhaps you’ll actually get response and some engagement.

Also, copying and pasting from chatGPT and AI platforms isn’t a sign of you knowing better than others, hope that helps too.

Or alternatively, they are trying to save face by driving the price through so nobody gets to understand the level of duplicity, lies, incompetence and fraud that they may well have been indulged in.

Let it all come out in the audit and results. It’s the absolute least they deserve. They should all be removed and be marched out the building in front of everyone.

That’s the question that you need to ask yourself!!!

Who scrutinizes and checks the employment of such a high level position. When he resigned, Ken went on the defensive and said it was a “mistake”. A mistake to allow someone to control the companies finances which was nowhere near the requisite level required.

The people that allowed Arvind to take control, should be under investigation, no way that’s brushed under the carpet as a mistake.

Hi Bearded,

We’ve currently been told 430pm cease of trading on Wednesday but the language being used says it could happen now also, so be vigilant. But currently it looks like end of trading on Wednesday they’ll be suspended.

Everyone is entitled to their own view here but I personally think there is something sinister going on in the background. Remember one of Wood’s directors is ex-AMEC and has a close relationship with a Sidara director who is also ex-AMEC. Call me a cynic but I seriously believe this is something on a fraudulent or crooked level.

I just don’t think you come to the table, make a respectable offer, it gets laughed out the door and come back and think you can now get it for what is considered derisory at best. Was someone warned about this etc?

Business weekly sends out internal emails to us all mate and it’s constant bid winning/contract renewals and success stories from around the world. Confidence is completely gone with ELT and the BoD. Once the parasites are removed, trust can then be restored in a very successful business.

What I’m doing Robert. Absolutely convinced common sense when it comes to the crunch will take over here and it’ll get a change at board level (well I think that’s what the entire office wants) and then trust and reputational damage can start being repaired.

Seems like only yesterday we were being offered 218p a share and it got laughed out the door.

I’d imagine they’d parachute a competent interim CEO like they have with our CFO and they’ll surround themselves with either an interim board or promoting people within to board level. Obviously nobody from the ELT or current board stays.

I’ve seen it happen in a few organisations and it can be done in weeks if there’s appetite or requirement for it.

Administration? Have you not been reading about this company at all?

Wowzers.

Cmon buddy,

Get on the rollercoaster of fun. Trust in Wood.

I have, but it wasn’t by the much haha.

I’m in it to win it.

Ah got it,

Halliburton was my first ever job. Great company to work for.

Haha, with Wood I’ve been at Shell, BP, Taqa, Talisman/Repsol. Not disclosing where I’m currently at, but might be one of those four. Don’t get the pleasure of being in the actual melting pot at Sir Ian Wood House, but lots of engineers I speak with work up there and the feeling is confidence in the ELT/BoD is unrecoverable, nobody trusts them anymore and as @yellowrose has pointed out moral doesn’t seem great from that perspective either.

Sad to see, but my long position/investment will hold. My decision and I’ll live by the sword.

Morning Mate,

Doesn’t ring any bells buddy. I’ve worked mainly client facing in my Wood career doing TARS/Outages, Special Projects and did a 6 year offshore stint in between all this in the Brent Field. Too many names to remember :)

You worked up in Aberdeen yourself?

Hey Buddy,

Thanks for the insight, always nice to hear other respectful opinions.

Yeah (for my sins), I am who I say I am. 16 years total and counting. I stand by this business as in times of the usual 5/6 years downturns, Wood have always seen me right with work and opportunities when others have been slashing headcount’s.

I’m holding my position on the basis that this business is absolutely nowhere near as bad as it looks currently. There is absolutely no doubt the current board and ELT are not fit for purpose, sentiment is shared in the office at SIWH. Hopefully a matter of time before a decision is made or mechanism to begin the removal of these parasites.

People can berate that decision as much as they want, but been around the block long enough with this company that I truly believe the offer from Sidara is derisory and that’s being generous and that there is a great comeback story to be written here for one of the UK’s most reputable engineering solutions company.

Hold the line brother.

Good things come to those who wait…….

Surin,

Matter of time before this nonsense is stopped. Milliband is a climate idiot and when Rosebank is approved, others will try and follow the same guidelines to attempt to get new licenses approved. Milliband is not to be taken seriously at all, said no new runways, but Heathrow and Luton are getting, the man is an idiot.

Traditional O&G majors have turned away from renewables to put full focus back on production. Skillpool in Aberdeen is enormous but the O&G workforce have been invited to reskill into renewables and when they see the wages and opportunities on offer, they are standing fast in their current roles. Take up for renewables in Aberdeen is low and it’s not hard to see why.

You at this point have to wonder who’s all in on in. Connect the dots of the key players at directorate and board level and past relationships. You’ll find out there’s probably dark forces at play here.

Sidara tried to acquire Worley many years ago and failed, one of Wood’s current board is ex-AMEC, one of Sidaras directors is ex-AMEC. AMEC weren’t best please when wood took them over. Call me a cynic, but a little chat between ex-AMEC colleagues who are now directors at both the companies being the buyer and seller and a bit of strategy for the purchase and you get what we’ve got now.

Which is why it’s important to have these people removed ASAP.

Got you now mate, apologies. :)

I’m keeping my long term position. Might sound crazy from some peoples perspective but the sentiment in the office is clear that trust in the ELT and the BoD is through the floor and unrecoverable. Theres clear deceit, lies, duplicity and whatever else you want to call it, only a matter of time before change is enacted, hopefully before having Sidara being forced down our throats.

Seriously mate, every 2/3 days we gets internal emails celebrating another major contract award/current contract extension and the likes. The amount of Middle East business the company has won in the past couple of months alone is outstanding.

Do not be surprised to see that multiply in the coming weeks/months either.

Hey mate,

All relates to revenue from lump sum (fixed fee) turnkey projects, so they'll either have:

1) Failed to deliver on some of original lump sum scope but kept the revenue in

2) Claimed extra revenue due to scope creep, client has rejected it but they've kept revenue in anyway

It’s creative accounting which has been uncovered in the audit. To what degree I don’t actually know, but the unwillingness to be forthright with the auditors is damning!!!