GreenRoc Accelerates their World Class Project to Production as Early as 2028. Watch the full video here.
Makes sense and I agree - (we) would be extremely happy and delighted with the current BOD gone.
They add very little value or NO VALUE at all and earning millions of pounds in the process.
There are so many investors before my time who I am sure are fed up/ angry with PFC not doing the basics. Honestly, I appreciate the past was tough times, but other companies can rise above and produce results.
PFC BOD try to make everything look impossible and sound stupid in the process - this is really not rocket science.
Finally, I do 100% welcome takeover at a decent price of at least £1.50, and as long as it does not impact or wipe-out our shareholders - we are the company at the end of the day!
I've just done my contribution for the day; 174,789 units.
This a very positive news, but I am angry that somehow external agents/ companies/ news always seem to have the good news before PFC bothers to communicate it. We have spoken about this so many times - it's not that hard for PFC to just post a news article!!!!
Are they just some of the biggest idiots in the important roles or something. Consistent and timely comms is everything now. They need to build confidence without us having to go digging for information.
Thanks for posting this by the way.
If only PFC was a GameStop moment - would solve a lot of issues especially on the short hedge funds.
There are still a lot of people that believe in PFC; the movement today shows the backing.
I think like in the past, PFC have something up their sleeve - it is all or nothing now.
CEO: "Petrofac will return to sustainable profit".
To make that statement, I can only think that they are just very poor in actual communication and not really able to communicate what is going on with PFC. Yes, the numbers speak for themselves, but it does seem like there is hope here. As long as the are doing what they claim, they company has a chance.
The operating models were a joke, and they need to get some damn good employees who understand extremely strong engineering delivery to budget and deadline with profit left over! The key projects from 2023 are being received well - as always they need to get better with communication and of course money management is everything.
I am holding.
Have a good weekend all.
Since it's an annual result which 999% of company have to do, especially one that is size of PFC - there should have been broadcast/ webcast details to the public. These lot always seem to have extremely poor time keeping and management. Are they planning to just give out results in text form and not a video conference?!
Hi everyone - hope you are keeping well.
I would welcome some thoughts on the prospect of takeover on PFC. Who are the potential candidates, what could be the offer per share etc?
Thank you.
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.