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Yes, as usual, I agree with you Paddy so long as SFO turmoil doesn’t kill the goose.

Coming up to 2021 year end and there will need to be new contracts (for which there’s little evidence) if further cost cutting / job losses is / are to be avoided.

And those new contracts will need to have a good margin in-built.

Not out of the wood yet…..

DT - hope Paddy’s right for a push to 200p but I think there’ll need to be positive news for that level. SocGen see high 160s and let’s hope that’s where we go next. Can’t see a case for shorting at the mo…

Paddy - I can see previous highs around 160s but got to go back to June 2020 - admittedly less than 12-months ago - for over 200p. I’d be surprised if SP hit 200p without SFO progress. But, it’s a dangerous game IMO to take profits now as no obvious reason for SP not to keep motoring up to 160s with the 2020 R&As in the public domain.

Paddy - it’s margin that’s important in a volume-lite strategy. Deploy the troop on significantly profitable contracts and, on balance, leave the high revenue small margin highly competitive tenders / contracts to others.

Whether there’s sufficient of these remains to be seen....

Just got to be patient. This is the market finding it’s level in the face of a load of bottom fishers trying to force a ‘buck’ at the expense of a decent company and it’s PIs.

Price will start rising again once there is any sort of positive news....

No cause for panic selling. Still no decent share out there for significant gain potential.

????

Slift - I’m with Paddy on liquidity but you’re right that the pipeline is one of the key ingredients for PFC as a going concern. SP will turn on contracts procured and SFO outcome.

But, I was reassured by the Q&A session and brokers consensus / reporting will be interesting.

I do think that as the World opens up PFC will be well placed and in some areas have unique capabilities that will lead to contract awards. Whether there will be enough of them and whether they will be delivered with acceptable margin will be the key for management, future trading accounts and SP.

I’m not proposing to sell so, I guess I’m in for the ride up to 2025 / 1H26......and I must think that the brave will be rewarded otherwise I’d be moving on.

Actually, I think we may see a bounce (once the wider market carnage of today is overtaken by tomorrow’s events).

Slift - I don’t disagree with your backlog point and tendering ratio but margin is also key.

As Sami put it quite well in the Q&A, he doesn’t want to compete with others offering silly prices and the ADNOC contract sums, for example, might be large / billions but the tendering is competitive and margins may not make the best use of asset-lite capital and a reduced workforce.

Maybe he would say that (given the circumstances) but he makes a good point and was convincing IMO....

Kept all mine too. Lunacy to sell at these prices. Paddy said it all. GLA and Sami...

Honey - that’s not ‘painful’ it very positive.

IMO for the short term holders only, it only matters that the results are not further delayed from mid April as an RNS to that effect would reduce the SP into the hands of the shorters.

For medium term holders, the current SP doesn’t really matter.

Don't panic; dont sell. Big uptick coming. All in good time.

Paddy - I agree that there would need to an RNS to explain but I was wondering what you thought might happen to the SP if results delay occurred again i.e. drop (due to uncertainty) or just take the news on the chin.

Paddy - what do you think the effect on the SP would be if either there is no release on 2020 results in April 21 or there’s an RNS stating that results release is further delayed (perhaps, again for COVID reasons)?

Pokerchips - lift is only from sub-basement to lower ground floor.... surely...

DT - yes, agreed but that will change once results in, orders confirmed, SFO **** off, UAE put PFC back on nice list and institutional investors take PFC off the naughty list.

Meanwhile, 25% uptick over c.2-weeks and still going this morning.

Patience and no selling required. Fingers crossed....

ATB

Oh, and I’m not anticipating selling either (for many months) for better or worse...

DT - no, I’m still buying (before SP gets too hot). Well over half a bar of shares and not full yet.
Strange thing today : couldn’t buy even at Limit above live quoted price. Wierd...

DT - you are right. Just refreshed the page. SP will be on the move v soon. Happy days.

Cookie - I agree with you on 120 walk down - poor - but it’s all a game and best not to sell / take the stop loss off.

There will have to be a disaster for the SP not to move up from here and the recent re-fi on un-extraordinary terms predicated on ‘trading in line with expectations’ Dec 2020 release suggests there’s nothing.

Waiting game now.

Shorts down almost 0.7% in 3-days to 7.34%.

SP held up well - less than 2p drop on the previous - close after froth yesterday.

Need that RNS / release soon to push on and upwards.

GLA

Paddyboy1 : I couldn’t have put it better. You have e expressed my experience and view again (spooky)!
I think was a invested above the 130 mark so to be melded at less than 100p is a major result and many thanks are due to the shorters for that opportunity.

I’m here for the medium haul and I hope the shorters get a few fingers burned but, of course, they stand to make a tonne if they buy back at these levels as the SP goes into over-drive.

I have said it before but my view is that this share will rocket once the news - good or bad (unless not already included in the SP) - is released and we can’t be waiting much more than a few days for the timing announcement.

Others have said but the fact that significant re-fi has been achieved at unexceptional terms is a big indicator and that has turned the sentiment tide (as well as giving the shorters the green light to close up shop). PFC can’t be a basket case can it if that sort of loot is being loaned.

Enjoy your present moment in the sun. I expect there will be more moments like this for you too as the SP is only going one way (with a few bumps along the way no doubt).

Have a good one...and GLA.