Member Info for Cripes

We will get £2.50 but we will probably be getting a £1.00 first!

Where did you find the trading update?

Given the rotation that is now afoot and the foreseeable reopening of the economies of the world why are we still at 8%+ of shorts? (That’s just those holding over 0.5) Why haven’t they closed? I don’t get HSBCs evaluation @125p based on the macro business environment or fundamentals so what am I missing? Is it simply that short holders anticipate a significant lower rating after SFO?

Yer welcome. New CEO will I’m sure take a view on the risks the value of allocations in the balance sheet and I guess if there are any will update on 17th December.

I’m referring to Perenco.

I don’t understand the Blackrock increase? Rupert Harrison, ex advisor to Osborne is I think at the helm. What does he know that we don’t? They called Carillion and this is beginning to display some similarities, change in CEO, bad debt. DYOR and best of luck.

https://www.nsenergybusiness.com/news/petrofac-contract-ithaca-energy/

Sensible thought on a sale. If PFC have the resources to deliver projects in ME but can’t because the brand is out of favour then yes, a sale or meaningful rebrand is needed.

It’s not like we don’t need oil today or tomorrow. Go figure!

Good news about the MOU with Storegga. (See Petrofac web site.)
Time to rebrand and drop the Petro label?

https://www.rigzone.com/news/petrofac_wins_contract_for_25_ukcs_wells-30-jul-2020-162864-article?rss=true

Halliburton down 10%.

Today’s gains, against the general market flow. Are they:
1. Words out that the trading update is less worse than expected?
2. That 1.5B contract is back on?
3. SFO throwing in the towel?
4. Something else?

Oiler’s down today, but PFC up, which may suggest a positive trading update this Wednesday.

Even if a divi was affordable I can’t see them signing off on that, given redundancies and HMG support.

They need £30 million more than they thought a few weeks ago is how I read, it implying that the trough is deeper. But DYOR. Rent quarter at the end of June. Interesting times.

It’s a dilemma. I recall those hand held toys in the 80s with the brightly coloured fins swirling around viciously. I said then it would end in tears. Small children taking off, the planets delicate equilibrium forever disturbed.... truly sinister!

They’re all creeping back.

Trading statement due on the 24th if this month I think. Will be interesting to see the effect of the covid.
With poo rising and lock down easing perhaps the recently cancelled contracts might liven up again? Would be helpful wouldn’t it.

Shorts down to 4.2. Why are black rock still not reducing? Seems odd?