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I've topped up.

It does seem like 45p is the support level. It would be very strange for the drop further because it's assuming that there are majority of previous buyers who just want to make a loss and think there is no money to be made.

If it does happen, I would welcome a collective action because I think we are all getting fed up with the messing around of this great company. Whoever is in on this will get found out!!

Thanks StockBuster.

I agree - this basic approach on their part will unfold if they had any part in the several repeat instances of random drops.

Giving a box standard copy and paste knowing full well what their responsibilities is playing with fire on PFC side.

Hi All,

I got a reply from IR today.

So I mentioned that I wrote to IR yesterday making clear set of extremely seriously concerns. I have said there is market abuse and the current trading is beyond normal market movement variation. I have also mentioned that the current fall is only down to manipulation and there is an obligation on PFC to get to the bottom of who is setting the SP manually.

I have said this does not seem to be automated trading system at all, as the buys are not reflected, and therefore, there is enough evidence for PFC to remove all those that have direct ability to bring the SP to a point where there was nothing to suggest it should be here.

Along with many other points, I have asked for News update to Investors and quarterly updates as the gap in updates – currently half year, is not sufficient to demonstrate they are proactively taking all steps within their gift to give investor assurance. It’s these kind of open opportunities that the ‘small group’ are taking advantage.

They sai (in summary) they will issue pre-close Trading Update in December. The first half saw Petrofac’s strongest period of awards in many years, which is a strong base. They are looking to close legacy portfolio, improving financial resilience and strengthening the balance sheet.

I did respond back saying, that’s all well and good but they need to focus on regular comms to keep those like shorters at bay. It’s very simple logic. Lack of not knowing causes people to guess – stop leaving us to guess!!

Excellent link D66.

Exactly what PFC are not doing!!! It's only 4 steps, how can a global engineering company not get these basics!!

Key Points

1) To prepare for the possibility of a short seller attack, companies should assess their vulnerabilities, maintain open channels of communication with shareholders, monitor short positions and changes in their shareholder base, and formulate a communications strategy.

2) In the face of a short attack, it is vital for a company to respond promptly with detailed evidence to rebut the short seller’s accusations point by point.

3) Share buybacks and dividend increases may help to restore a share price depressed by a short attack, but there is a risk that these may be seen as superficial defensive moves that do not address fundamental questions about the business.

4)Suing the firm or individuals behind a short attack or seeking an intervention by regulators rarely is successful and can backfire, drawing attention to the criticisms.

Thank you all.

I am 100% convinced that PFC as a company and entity is absolutely capable of doing business.

The only factor in all this is people. Who is doing what and in what way?! I have logged a line of enquiry with the FCA to monitor the hedge funds with the random and out-of-norm SP movement. Yes, no one knows the future in normal market conditions, but when some can control, that is a serious issue, and I do believe many are saying on here what is going on behind the scenes!!

It will definitely go back up and to 80p plus, but I do think we need to really consider the root causes behind these random drops. I have sent IR email today calling out their responsibility to get to the bottom of who is setting the price so low!

Hang tight all, we will get there, but what is happening to PFC is beyond normal market conditions.

All I see is buys going through, outnumbering sells by 80% or more.

Yet the price drops, this stock is being targeted and its so obvious.

What are the options and actions available to us??!!

Good comments all.

PFC need to start doing QUATERLY UDATES!!!

The 6 monthly wait is too much for a company that has gone through what they have. Also the constant random drops by 30% plus will be greatly aided with 3 month update as people will feel more comfort. Even if there is no significant update, it give the 50% public portfolio sentiment that things are okay and that we are NOT guessing!!!!!

I like your posts CH, especially ADNOC and PFC.

What do you and/or others think is causing these huge variations. I mean its not even 5-10% like most other comapnies during the whole Middle East news. Even Wood has completely turned back to 150p plus within weeks. How or why is it PFC get in to this range. It's not normal in any shape or form. I would love for us to collectively challenge PFC to get in touch with whoever manages their investment banking and look at the pattern of trades by hedge funds!!

Once again, the day has had more BUYS than SELLS, so who the F is putting the price down.

There is no way an automatic system is doing this!! PFC management need to get in touch with their F-ing investment advisors and end this BS once and for all. Whoever they have hired is clearly messing around!!!

We should have been in the £1.50p by now with ease!!!!

Looks like we are back on the upside?!

Did my part this morning; @53p.

Good luck all and have a great weekend.

It appears we have a reached a turning point on this based on technical indicators. The cross-over from sell to buy has been triggered, and so seems like a great entry price!

Have a good day all.

Delayed news by IR - what is wrong with them?!! Is the support level around the 50p mark??

https://www.petrofac.com/media/news/petrofac-supporting-uk-energy-transition-through-new-decommissioning-contract/

So who is REALLY selling? Buyers buy for profit not for loss...

The only reason why this is going down is because some people are setting the price this low. The shorters are in PROFIT this week, especially last 2 days!!!

Every other stock is maintaining good price range, with some drops here - and there that usually good rationale.

But PFC always goes to where the shorters have an open position - ALWAYS!!!!!

I am supposed to believe this is just market. 100% this is not market, if it was, then how do other companies do well with good news. PFC is being manipulated over and over again!!!

Keen to hear if anyone can help me understand how NEW CONTRACT awards for two days in a row sees the share price going down to range it hasn't been when there was no contracts?!!

HI Maverick! Long time buddy.

I would really like this to go to £1 plus soon as possible. I am not sure why there was 16/17p drop recently; it was too big in comparison general market movement.

I hope this is not some sc**my plan to reset price so new awards coming in will only go to 80p or maybe 90p range then MM/ shorters reset the price again?!

I think PFC is not being given a fair opportunity to be what it can. It would have been well over £1.50 to £2.00 by now.

Is this drop in past few days purely to help the shorters profit/ get out with loss?? Have we seen this before - drop with no rationale??!!

Cidatel LLC is gone below the threshold or maybe realised it's time to close out.

Hi StockBuster.

It's hard to say what price PFC could achieve. We are not just dealing with a stock that is free-movement. There are a lot of people trying to hold this stock back.

But, the chains will release soon and it could be a highly retrained spring. As for price... some thoughts;

1) £2 to £3 on genuine takeover news is probably like price range.

2) £5 takeover and continuation on strong strategic direction on the promised pipeline.

3) up to the high trading days - £10 - £20: if they can design and build proprietary assets/ solutions that make green energy cheap and affordable for ALL parts of the world.

I think the last one is the race they are all trying to get in to now. That is the real future of growth for most companies, not just energy sector.