Member Info for CheshireLad

FYI:

https://www.youtube.com/watch?v=61Jw7Pbi2qE

Take a look, a good Ridley Scott film also.

GLA

Does that mean from tomorrow we are in a closed period then?

GLA

Like WG, Once PFC’s restructuring is complete I would have to think they will also move to quarterly updates, just like WG, this should stop future short attacks once the company is on a stronger footing.

We await that major PFC inflection point!

GLA

I am still invested in WG, but trimmed my holding dramatically before Apollo walked away as I’d already made my money on WG, then started to accumulate more in PFC, as per the reasons previously stated. I expect good things from WG in 2024 also, but as a pure binary play PFC offers the chance of a much greater upside in my opinion? However, there is always the unknown, and WG has a trading update in January, so you’ll notice the slight uplift in SP over there, I’m assuming it’s based on that and nothing else?

GLA

Trax, you’re going to have to suck it up like the rest of us.

I was 25k down, now only 10k down, and I’m virtually all in. I was nervy but not overly so as if you know how the game works, things will turn once Company is on a stronger footing, which the Shorts are trying to force in a roundabout way, but taking advantage in the meantime, thus providing liquidity and a chance to not only average down but accumulate, for the anticipated turnaround.

As stated, I work for WG, and PFC is about 1 year to 1.5 years behind where WG where at, exactly same, virtually mirrored in that respect. So I see light at the end of the tunnel, but nothing is a quick fix. Once you accept that things become easier and more forward looking. WG is also recruiting heavily in the ME, the worm is turning, it just takes time.

GLA

The shorters will be increasing to hedge and go long i.e. suppress the share long enough with existing borrowed shares to then buy enough to mitigate and then go long, which would potentially offset any losses incurred due to their poor shorting. This will take a couple of months to work and for the shorts they will try to manage the SP in the meantime, and they will hold sway and power over PI during this time, unless that is some more company statements cause a severe +ve event which the shorts are incapable of holding back, that's the game in town now, who's bluffing the shorts or the Company. The answer is the smaller shorts who are over leveraged and exposed to any positive Company news flow......hopefully there will be many which will then push the SP to a major long term inflection point, which even though recent weeks there has been a SP turnaround, we are still yet to arrive at that inflection point, which will be confirmation of financial restructure and/or non-core sale, and/or part core sale.....it's coming, MW have assumed things will now be progressing based on the December company statements. Question is, will those still holding major shorting positions have enough time to cover and hedge to go long?

GLA

FYI, more press/industry coverage, can only be a good thing:

https://renewablesnow.com/news/petrofac-hitachi-energy-awarded-nederwiek-1-in-tennets-2gw-framework-844488/

GLA

Added more myself on the relative weakness in to the close, it would be rude not to and finally bring the average down below 50p. It should be set up for a good 2024, with the usual games being played. We will just have to sit it out as unfortunately us mere PI's will not drive the next major gear change, we can only hope to keep the Shorts honest in that respect. It all comes down to what the business say next and hopefully they have been working hard over the holiday season and like the 20th trading announcement stated they will only make statements at the appropriate time. I think this was a nod to market fluctuations over the past few months, this confirms that the market has no special inside information and has now twice been majorly caught off guard this past year, lets hope for similar in the New Year!

We should already expect the bones of the re-structure of the financials to be somewhat restructured within a plan, how much of that is made public and when will be the key. Personally, I would like to see this announced alongside or after a further large contract win, thus further underpinning the re-structure with the outstanding backlog of work and aim for the milestone statement of a backlog $10 billion, well they have been hiring like crazy. Also, I’ve not yet mentioned asset sales, as we all know this will greatly help, and after the announcement of the hiring of Moelis and Teneo we should also expect progress has been made in these arears to either fully dispose of certain assets and/or have a strategic non-controlling (at this point) investment to a ‘component’ of the business (hopefully O&M), Moelis and Teneo certainly have form for this in the MENA region and are trusted by ADNOC among others, go figure.

Everyone have a great New Year, stay safe, stay well, and look forward to a great 2024 and beyond, and that’s assuming a bid for the whole company doesn’t land after the strategic and financial review has been completed?

GLA

FYI: Additional articles you've probably already seen, no doubt off the back of the stalled Santa rally:

https://www.ogv.energy/news-item/petrofac-hitachi-bag-another-contract-for-tennet-s-dutch-offshore-converter-stations

https://www.rigzone.com/news/hitachi_petrofac_get_2nd_contract_under_14b_tennet_power_agreement-28-dec-2023-175189-article/

GLA

FYI, something to ponder over Xmas:

https://news.uk.cityam.com/story/2094614/content.html

GLA

I agree, could be a good indicator if the larger ETF's start increasing. There is a regular poster on the THG board who posts the same ETF detail for THG, it can/could indicate the direction of travel if referenced regularly.

In order to keep the foot on the throat of the Shorters, I would like the company to officially add more context to ongoing activities at much more regular intervals than they have previously done. It would be great to get a further update before, during, or in the New Year, in order to give those short something else to think about. It would be great if directors decided to buy more, however, I understand that they are more than likely still in a closed period, which should be remembered, which means positive discussions are ongoing regarding financial restructure and new contract talks. My Christmas wish list being in the following order:

1) New RNS contract win announcement

2) Short-term financial concerns put to bed

3) Director buys

Thereafter, announcement of intended sale of non-core assets.

Incidentally, I've bought more today after trimming some more of my WG holding and moving here. That is my last top up for this year for PFC, and I expect great things both from PFC and WG in 2024.

Merry Christmas and hold for the Christmas pudding with a cherry on top!

GLA

I've been able to add just under an additional 10% to my holding today, and as before will be holding long-term, for me that's another 2 years.

I may or may not be online later this week and next, but will be keeping an eye on the SP movements, although as stated be prepared for pullbacks, stagnation, etc, but for now and moving in to next year, the trend should be our friend.

Well done Tareq and the wider leadership team for delivering a great update this morning, you genuinely did and are putting the shareholders front and centre with your stewardship to date.

GLA and have a great Christmas & New Year

After hours, or even tomorrow or the day after might be some interesting very large trades that pop up as off the book mates rates.

GLA

They are going to have to up the Bid, I don't think they can keep it at this level for much longer. Now the shoe is on the other foot, it's time to swallow their pride, and suck it up.

GLA

IMO, looks like it's drying up.

GLA

Can't believe after today, I'm looking at the WG SP more than PFC, strange times.

GLA

Transparent, now vanish or cover, the ball is your court.

Looks like the possibility that some profits taken here and shifted to WG.

I have no spare dry powder, and my EPC exposure is 4/5 here an 1/5 WG, but I'm risk tolerant.

GLA

Looks like the Loony Tunes are waking up in readiness for the opening across the pond.

GLA

My opinion is they didn't but hoped they would. There now appears to be many justifiable reasons why the trading update was penciled in for today, rather than earlier in the month, COP (which was a given), Tennet 2, contractual settlements & guarantees in place. I have a sneaky suspicion that ADB was brought in in some capacity to stop a leaky ship, certainly worked.

GLA