focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Although we (us on chat) dont know the future, it seems like pure basic management f-up on how to do basic business duties is very apparent.
HL Head: Trading should be resuming upon Year End publication as we already know. I was thinking PFC are hiding things, but it is a mixture of constant screw up and poor management of comms and day-to-day activities.
https://www.energyvoice.com/oilandgas/north-sea/552529/petrofac-asset-sale-on-the-cards-over-debt-challenges/
Also, on 25 April 2024, majority of analysts in FT have placed a HOLD and BUY position, not much different from past position - several months ago. To me this is saying, there is confidence with caution outside of PFC and PI category.
OR, this could just be part of a big plan for Shorts and other trouble to move out of the way?!
To everyone posting insightful content - thank you.
To the point of employment, I am very curious to know the education level and experiences of past successes of the BoD.
If they only have PFC to show for it, then we should be actively calling this out.
Sm66 and others on similar points - you are right!
This is a maths/ number problem and what they need are extremely good financial accountants/ planners and strategists to manage the immediate risks and then the Portfolio Managers need to be of the highest quality - those that can manage complex engineering projects, and deliver with high quality and within budget to make a profit.
The points about interest rates, covid - fair enough, but have had plenty of time and our patience to get things right. This is not a problem beyond good smart people. They lack basics in communication and anything from what I can see - can be compared to children in my view.
Poor timing on everything.
Constantly missing deadlines and key public updates is only allowed a handful of times - which is also another reason FCA and other institutions will come down heavy. I have a feeling there has been a leak to Shorts and one thing about PFC is things always come out.
If the worst was to happen, the shorters have nothing to gain either right?
They would be forced to close positions by default and then probably return some form of payment to the original owners (depending on agreement).
I was speaking to a friend earlier today who specialises in Corporate Financing - the suspension can take place due to misfiling/ missing deadlines or core information withheld. That's what I am keen to understand.
Additionally, he told me the suspension allows the company to focus on urgent matters, which in this case is the financial restructuring - so it's not always the doom and gloom.
In all honestly, so many of us have said PFC communication is one of the main causes of this situation we are in now and have been for some time!!!
There has to be a disclosure behind the suspension - have they not filed key information/ documents?!
All - thanks for your comments - in all posts.
I just have to ask, is there a collective thought that anything other then FCA rules causing suspension or take over is is concern for us?
I am honestly not getting their logic on what they are doing this time. They have not said anything significantly alarming so is it just most people are not understanding how companies need to follow rules etc., and its looking like its very serious or is there something to call out please.
All those orders and they are still messing up?!!
Thanks Dan22 - what you said does make sense - due to delay.
However, as Cuban was saying, this is not the first time. If PFC management are up to something malicious, we need to try and find out sooner.
Reading the new release, there is nothing in there that is not the usual PFC update.
The last comments ended with what they said in December 2023 is still the case, so why suspend for a whole month?!!!!
How can we find out if they are up to anything else?
Will be really hard to secure around that price unless less than £5K. Didn't let me get a price last time... Hope we can get best price. What are the shorters waiting for??
I am looking to go in 50K around 20's.
That's great, but what's the cause of this 'breakout'? This stock is so random.
I remember a TenneT deal due to clear in December, and some of us talked about it within the last month.
I am hoping that TU will state clear plans for cash improvement on Balance Sheet, if not better.
If this happens, I think SP will be 80-90p by January 2024.
Good luck all.
Consulting team begins FEED for Neptune Energy’s L10CCS carbon storage project in the Netherlands
Our consulting team has recently begun work on the front-end engineering design (FEED) on a project that aims to play a key role in supporting the European Union in reaching its decarbonisation goals.
The FEED, awarded to us by Neptune Energy, is for its L10 Operation facilities - a carbon storage infrastructure development that will connect to the Netherlands’ flagship Carbon Capture, Transportation and Storage (CCS) project, Aramis.
The L10 Operation is being developed by Neptune Energy, alongside its partners EBN, Tenaz Energy and ExxonMobil, and seeks to store up to five metric tonnes of carbon dioxide (CO2) annually, which will be captured from industrial emitters in the region.
Our scope covers the first two phases of the project, L10 South (1A) and L10 North (1B) and is being executed by our consulting team, based in Woking, UK:
Phase 1A: L10-South - installation of an L10 hub/injection platform in the L10 south storage complex and installation of a spur line from the Aramis DHUB (distribution hub) platform to the L10 hub platform
Phase 1B: L10-North - The installation of an injection platform (L10-Y) in the L10 north storage complex (L10-BE) and the installation of an inter-field pipeline between the L10 hub and injection platform
John Pearson, Chief Operating Officer, Energy Transition Projects commented:
So it looks like the bottom was around 15p mark, per my post last week. I think we need to be mindful there may be some drops but the issue around financial stability has been clarified quite a lot this morning.
What I am expecting from PFC on 20 December 2023, is a clear plan of action of what they will do when customers are not able to pay in time and what reserves they have.
But glad to see the bottom was in that range. Hope you all managed to get improve where possible.
It looks like undisclosed sells have taken place, likely to be the shorters. The big problem they have on their hands now is while they were busy selling, people were buying up.
When it comes to returning the shares back to the rightful owners, there will be some of them that will get burnt badly. You will see large chunks of reduction taking place - which one/ ones will pay the price - not clear yet, but GLG played it smart as usual. They really know PFC very well.
There is a bottom - appears to be somewhere from 10p to 20p, maybe it's 15p with hard push. Bounce is there, I am expecting any day now. PFC could once again surprise us, that's something the shorters know well, especially those from March 2023 events.
Whoever got the 40p range, congrats and well done.
And all the long-term holders - glad we are hanging in there!!
Who can help in finding details of the people executing PFC at the stock exchange.
If PFC management don't start taking immediate action to sort this nonsense out, then the obvious is on the table.
I am just seeing buys and buys of huge volumes, with micky mouse sell volumes. 100K shares went through and this stock went down. How is that possible?!!!!!
PFC management need to answer for this. This has gone down at this time last year. We need to take collective actions against the management. They have not done anything to help this company in this matter!!!!!
There are sells going through for ONLY ONE share, and another for 5 shares.
No one in public side would do such a stupid thing - we need action on this!!
100% Janbo!!
But what has never made sense to me is what causes the random and sudden drop. Yes, markets go down and so was pretty much most markets with ME matter, however, PFC always goes down beyond 5-10% like everyone?!!!
For what PFC need to investigate and give answers!!!
Exactly StockBuster.
We need answers!! This is unacceptable, every time they bring it down it makes the real worthy awards seem like they are nothing. PFC are clearly getting awards but NOT doing enough to manage and maintain their company value!!!!
PFC should have been what BARCLAYS priced at, £2 plus by now. But even they got tired of waiting to see what PFC management are doing. I only blame the people, not the company.
Start giving bloody regular updates - its not that hard or rocket-science!!!!