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I think there will be after market hours trading going on today to offload the short positions.

At the moment, their current positions are carrying heavy losses so they will need to get rid of those. And this should in effect allow fresh shares to be open in market tomorrow, and therefore, we can expect more upside. The SP has been depressed for long time due to actions of some.

But they could pick on this stock again - not that is makes any sense to, as I think PFC have more deals up their sleeve, which would only cause further disaster for shorters!?!

I do agree with you, but we shouldn't be surprised if Sami has taken up a bigger CEO or even a Chairman role.
I do think he has been behind the TenneT deal for some time (and others to come); it's just the way the news came out since November 2022 made everything look bad, which could have been totally avoided, especially with Schroders etc.

Anyway, he is leaving on a high - technically he is still in Office till tomorrow - so this goes to him very much, IMO.
:-)

It is very unlikely Barclays and other Analysts knew (could not have known) about these deals, so most likely we will see revised target price above what's being said at the moment. I believe they will start to examine the pipeline a lot more and factor in the cash receivables too - which is looking very good based on what has been said. Also, just a note, when IR wrote to me and a fellow said on here - you could read between the lines that there is a deal and MORE to come...

Middle-East are also exploring Green Energy; wind, solar etc., so PFC are getting ready for this and that is why they are doing a lot of training in Oman and other Gulf states, IMO.

Just a thought...

PFC is on ADNOC books too, so Middle-East deals are also come - likely to be big deals and that's when I expect this SP to hit Barclays 200p and higher with ease??

100% Agree brockrock.

This is why shorters need to pay up now for what they did and those id**ts who borrowed our the shares in the first place!!

Thanks, Ducati.

I really enjoyed reading the shorter part - lol

Well put Johnychainlocker - thank you.

This is one of the main reasons why I chose PFC - Green Energy is what the Banks are pushing for and the amount of incentive from Govn for companies doing sustainable energy and 'green-loans' is crazy too!!

This is the way to do business!!

We have talked about planning is key and managing projects properly - we will definitely see this from what I can see. PFC have done their homework and it's definitely looking very good. I draw your attention to Sami's words:

"We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT’s ground-breaking programme..."

“Today’s announcement represents an exciting next step in Petrofac and Hitachi Energy’s collaboration. We have already secured key resource and the yard capacity required to expedite the first two projects in TenneT’s ground-breaking programme. By combining Petrofac’s industry-leading EPCI expertise and Hitachi Energy’s well proven technology, we look forward to supporting TenneT to connect larger, more effective wind farms to deliver affordable clean energy for millions of European homes.”

EmeraldCarrots - would love to see this. The potential is really there. We should be seeing 90p range very soon.

Thanks, Knowles - we saw some dip earlier, wonder if that might have been a chunk of it...??

Which based on us being at the 80p range now, I would say there is plenty of shares to go out to market, and upwards as demands increases. This stock should have never been below £1!

UPDATE:

I wrote back to IR on Tuesday, thanking them for the reply, but I also simply stated that regular updates is CRITICAL, for stability and especially for the sector investors for PFC portfolio; even if no major news.

I hope to see this consideration for us, and I really to expect to see the true value of Petrofac to come through this approach and other good business conduct. The management/ employees definitely got stick over the past few years, but sometimes, 'one has to shout to be heard'.

Well done to Petrofac and Hitachi for this major Green Energy work.
Green is for Go (traffic light) ;-)

Thank you Sharefall. I am glad you are on the team! :-)

Dear Buyers,

Those of you that got the great price, many congratulations. However, please note that although your holding looks great % today, if there is a mass sell now, noting shorters need to sell this down too, you will bring the price down for them and essentially help them out, along with reducing the flexibility of business for Petrofac.

There is only one win-win here - buy and hold and get your reward. The other reward is knowing what short traders did to PFC deserve this impact on them.

Ps.
The MAJOR short firms (JPM, BlackRock, Citadal etc) closed out last year (Jun - Nov 2022); that was a clear sign that they knew there would be losses for them later and look what happened. EuropeShort shows crazy numbers of loss for those 6 who are above 0.5% - but what about those under the 0.5% - they are paying back now!!

PFCVetran, and all LTH/ Buyers.

Indeed - hang tight buddy, we will get there, and beyond 200p! I suspect Institutions would be coming in too, which will significantly favour PFC to manage the portfolio. Also, Intuitions generally have a line of enquiry (contact) with companies, allowing greater confidence and investment.

We should expect this stock to be well over £100p in the near future, because this is a significant award and it's in Europe therefore, the payments terms are much more established than other World regions - this is key for cash-flow reasons.

Furthermore, this award has far exceeded out expectations of the '1.5bn' we had heard. I suspect the shorters will be scumbling to get out now.

Petrofac and Hitachi Energy secure landmark offshore wind framework worth approximately 13 billion euros!!!

Have a good day buyers and long term holders! ;-)

Thanks for raising AGM matter PFCVetran.

Definitely, we all have something to say about the management of company and direct impact to SP. I had some thoughts, which I would like to share - something that PFC need to reconsider with urgency.

Since nearly half of Petrofac ownership is general public (c. 48%), there needs to be significant protection against hedge funds (shorters). The way they can just borrow shares and drop them in LARGE volumes put significant weighting, stress and pressure, along with volatility on the general public holdings, who cannot just buy 25K, 50K, 100K shares etc. just like that.

First of all, why are there so many shares/ firms just borrowing out shares knowing the damage it can cause?! This should be in PFC control because they can technically limit which segment/ sector the volumes of shares are allocated to.

In other words, if the maximum borrowing for shorts is limited to certain amount of shares, where they (shorts) can still do business but NOT able to cause havoc as we have seen time and time again, then that is what needs to be done. PFC have allowed for general public to have such large stake, they need to put in risk management measures to control extreme volatility, and individual investors.

I read on SimplyWall that were a lot of insider trades recently and I wouldn't be surprised at all if Institutions also take advantage to average out the portfolio. Just because some want to make gain on downside, doesn't mean the upside is NOT FAR GREATER advantage.

I read on SimplyWall that were a lot of insider trades recently and I wouldn't be surprised at all if Institutions also take advantage to average out the portfolio. Just because some want to make gain on downside, doesn't mean the upside is FAR GREATER advantage.

Agree SM. :-)

Also, I was thinking again about the delay for EoY results, which has really not helped with the 'silence', but technically speaking, if we were a new CEO, we would want to close of a previous year and start new FY with a strong business strategy and mission statement, especially as there is a formal transition of CEOs'.

It looks more like a formality and show of respect from one CEO to another CEO, and that is why FY results moved from March to April to formally allow the new CEO to take ACTIVE ROLE in End of Year results.

This is business after all, and so the only interest on the SMT mind (senior management team) should be strategy, growth and profit. This is what I have made of the recent events. Welcome views on this please - thank you.