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Sorry Evanscent - I had to reply to Snapper.

So, one thing I can agree with you on is the handling of information and managing expectations of investors- I am 100% with you on that.

That aside, it is fair to say that the employees are not the best at handling conflict and very difficult times. It requires as very specific set of skills and people. However, that doesn't mean that company is bad or can't do well. It's just a case of us keeping on top of the Board and those that make key decisions to ensure they are getting basic right.

As for how I do I know they are long gone - if you were fraudulent/ misconduct employee in PFC years ago, would you carry on working there waiting to be put on the chopping board?

You could say yes or no to this question - but based on your comms to date, I would say you are reasonable enough to know when to run and hide. So that is why I think those employees have left because word gets out, we would know by now.

SFO can investigate ex-employees or do whatever, but they also need to show face because they look like complete F-idts. :-)

Okay Buddy - will do - thank you. :-)

Snapper - appreciate you are just making comments, but, the kind of people referenced below - crafty, devious etc., would NOT be hanging around in Petrofac. Plus this is old news; do you have SHORT position open or something because a BUYER wouldn't do what you're doing - digging up so much things from past but you need to make it relevant please?!

They have left; that is guaranteed - they may have taken chances before with what they did, but after 3 - 4 years on, you really think they will hang around waiting to be found and face prison/ fines etc. You will find those individuals are long gone and elsewhere doing whatever else.

Like a handful of people have said consistently (and today) - let's work together and get the price where it should be!

The only issue we need to overcome TOGETHER is to establish the current status of deals/ contracts/ work and financials etc. This stock is waiting to bounce back rapidly as we have seen in the past.

I would like to humbly ask all genuine buyers (long trades) to find factual information on status of information by contacting the company - we should be expecting there are delays on deals, but these PFC employees are probably scared to tell us because they will get a telling off (lol). However, once we are past that stage, we are back to what happens in normal business - what are the next steps, who needs to do what, and by when etc... That is what our focus should be - IMO.

SFO is an incompetent body (like many government body) that doesn't understand economical value of a company or country. Punish the handful, 100%, not the company - which employees thousands and has billions of investment on the line. Far worse happens in other sectors, but PFC is just being taken advantage of.

We - investors - can make the difference.

Hi-Five, Dark_Knight!

RSI18 - no worries at all - no offence taken and I appreciate the way you responded to me - thank you. My message was read in a way that was not indented.

The shorters work of what company/ employees do and that's why I am more concerned about what PFC employees are doing, which comes to your point - shorters are working of that otherwise we should have been 200p plus, just like it was in Oct 2021.

I strongly believe in PFC and like some said, we just need strategic people who know how to make deals/ close deals, plan and executive respective projects on time and budget - that is just people issue - not company.

Let's push for the right outcome. The value is in the company so let's get our efforts to get right in the right job.

Also you are right; some of these short late comers just want a penny or two. But, for buyers there is 100% profit to be made here, just like last time from similar range.

eurofil - you clearly don't get it. So let me make it simple for you. Maybe if you read properly you will understand.

If you go to the supermarket and want your food for half-price, you might not like the supermarket saying "sorry we can't do that".

You don't know me at all and I am very well aware of different industries/ sectors and economics. But my point is valid and factual. Did anyone force all those employees to work for PFC or other like companies- the answer is NO. So why all the sacrifice and sympathy talk. If you can't make those sacrifices, then you need to assess your life and make alternative choices, decisions and actions. This is business - not personal.

I am not saying they shouldn't strike or not strike, what I am saying is, be reasonable and stop damaging your company (employer), because if job is important to them then they need to wonder what happens to a company that was X and is now Y price.

Again, this is business and not personal. But life choices are each to their own - that is the part of simpleton message. A smart reasonable person looks at all options and makes informed choices. I am looking for important key information to make informed decision, like many investors. I don't want to be guessing.

You're absolutely right Eurofil - we need assurance. That said, I am not convinced that long term investors (long trades) are here to make losses, and so a buyer would have to sell at a loss for the next buyer to buy at lower.

Or who is really selling at loss. The supply and demand should equal at a range the price has never touched before. However, people please just remember, the company itself has VALUE - we saw comments on this back in Nov/ Dec 2023.

People come and go, which is how the business word works. Don't panic and sell.

JimBond - read my message properly....

It says, those that are complaining need to find OTHER jobs and get skilled to do a job that pays more (i.e. £100K/£150K etc, which is just an example but to some people that is not a lot of money btw), gives better holidays etc.

If you want to settle for a job because you can't do anything else, that is NOT the employers fault - that is laziness and not taking opportunities, which in the UK are plenty. In other words, stop complaining and get on with your job, because these simpletons could end up having no job if they destroy everything.

PLAIN AND SIMPLE.

RSI18

I am not asking for RNS - I am saying, when a company goes through crap, you have to work twice a hard to get your reputation back. You can update investors' without the need to do Regulatory News. Progress updates should be the most basic actions of a company and employees of PFC - this is no rocket science!!

It's their incompetence that has allowed the shorters to think it will go down. Investors need progress and assurance, plain and simple. I am sure most investors are reasonable people and do accept the world is a difficult place and many things going on.

Good open communication provides stability, or otherwise it gives shorters ammunition to think they can do what they want. I am pretty sure there are shorters on here trying to put fear and panic in people.

I dont personally care about the shorters, I only care that we have employed people who should be looking out for our intertest as investors; the Board. How they operate is the key, and the shorters will just work of that.

As for Reddit - that is one approach yes - we should recognise the value of PFC, but what we really need to look at is why the offer price (below 60p, 70p or even 80p) is at this price in the first place. This comes back to my first and repeat point. Also, it looks like there have been more buys recently than the sells, so why the drop?!

Well said FunkyTalk!!

This is all very easy situation to manage and I am not just saying that. They need to use the most basic brain cells and start being open about how things are progressing. Honestly, how many people on here would not buy the following "Our clients are still working through the contracts/ financial arrangements and we are still managing things with XYZ, but we are doing ABC and to ensure we remain etc etc...."

Who would not take that as they are not lazy id1ots that cant even send a single basic investor update out!!

As for the employees; either become skilled in an industry that pays the salary you want or stop complaining. I am sure if the strikers could earn £100K/ £150K plus year in a job they could do, they would that without a second thought.

True Tony!

But, even if there is no formal contracts signed etc, we just need them to tell us what has happened since the December Trade Update, to give investor assurance that they are not sitting around; that part does not need contracts/ awards or bids and does not cost anything for them. It will earn them respect at the very least!

DavidW2016

Very good point and that is my thinking too. These shorters are really CHANCING it now, but it does look like the last opportunity for them to get a few pennies, as some of them (more experienced ones) cashed in earlier in the month, which suggests to me that they know a sudden rebound now will wipe out millions for them and they are already paying a lot of fees to keep positions open.

The price is holding around the 58p to 61p which is great (very least) and that is where it should be right as no one has really brought at these prices before? Meaning whoever is selling, must be making losses?!

Ultimately, this is because of how PFC (management) are managing their poor communication - not informing us in a timely manner is putting unnecessary doubts in investors for NO REASON!!

Kirti12shah - Possibly, I really hope the effect of takeover/ bid by Apollo etc,. is the same effect that WG had - they bounced 70p to 220p from c. 150p, before the confusion of the Banking issues.

Thanks, Eurofil.

I have to say though, constantly striking over everything is not acceptable at all. If you want a job and you are constantly 'fighting' with your employer than it is best you look for another employer or sector to work in. There are plenty of people who will do a jobs in hard time.

The damage some employees are trying to do with PFC (and others) has only one answer - exit. However, PFC management should not be allowing any of this to go to Union/ strike stage!!

Thanks for the VERY IMPORTANT clarity Pokerchips - that was exactly my thinking!!

The PFC strike was in February 2023 and they settled with massive pay rise for employees (fair outcome).

Could you share the link please Snapper? Thanks

Also, the current SP is purely based on speculation - investors (nearly half of PFC retail investors) do not operate in the same way as Institutions and therefore, the patience is at different levels when it's personal cash/ money.

This is why these incompetent employees need to manage communication properly. Like I said, an update of no further update is an update. It gives a sense of assurance that there is progress, albeit, this is the most easiest and basic update to give.

What we should be seeing from the Investor Relation site is them saying if there are delays with contracts, and I believe 90%+ of investors would buy this because at least we are informed. Why are left guessing and that is making investors angry and speculating!!

I sent them a very direct email earlier today that, news on contracts is critical, and I not what training they are doing or industry awards!! You only do those kind of updates when you have earnt respect because it means monetary value speaks hand-in-hand with actual performance metrics.

Thanks, Huzaifah1.

We expect this to true and it has to be true, otherwise a civil lawsuit against PFC management should take place. What they should have done, as I have mentioned was informing us of progress with weekly updates or at least bi-weekly.

Why?

Because that would have kept the share price at 80p range and mostly gone in to 90p range, which is where this stock should be - 100p lowest.

Thank you very much Racksonracks. Appreciate this.

I contacted IR back in November 2022 and they didn't bother to reply!! They are making the company seem incompetent when it's just a handful of employees that should be sacked.

Yes they have, and couple of the others too. However, SP being the lowest price it is, and being quite cheap - they shorters will very quickly go in to losses because people are buying knowing there is profit to be made.

I also saw that some of the shorters have made significant losses from December 2022 to March 2023. I believe that is why GLG closed out their 113p position, because they know the bottom is here and news is coming. If they get caught on a short now, they will get hurt badly. Although they also opened new position, it is more of a small chance they are hoping for.

If buyers come in now with momentum and pace, shorters' will go in to losses very quickly, based on new open from of low 60p range

Has anyone contacted Petrofac Investor relations or heard back from them?

How on earth are they just sitting there taking salary, while the SP is below 60p!! They should be keeping us updated regularly!! I don't care if it's small news or big news. We need to be kept informed.

I am very comfortable with PFC capability, but it's the communication standard/ quality that is making a lot of people frustrated.

Look at the steps the Banking sector took - prompt and swift actions and media communication to restore order. Now with Credit Suisse in order, we have seen stability within days, even after the US small banks!!

Also, Banking has nothing to do with PFC. And Silicon Valley Bank is completely different issue to Credit Suisse, despite the timing of everything. This was even noted on Bloomberg News.