Member Info for E_AL

They are still offloading big chunks of shares ......... The share price will eventually rise but not until they are done with the bulk selling

Perhaps the company is more interested in giving LTHs a chance to average down at the absolute minimum rather than to enable traders to day trade it ?

@ART123 they are aiming to offload the placing shares before the commencement of the Itumbula drilling beginning of January to facilitate rebound in the stock price without impediment. To prevent day traders from interrupting the process, they consistently replenish the Ask side on Level 2 until they successfully sell the targeted volume from the placing shares.

Another day with a substantial number of shares were traded since the market opened. It appears that there is an effort to swiftly sell the placement shares before the commencement of the Itumbula drilling in early January, facilitating a rebound in the stock price without impediments.

I truly empathize with long-term holders, and I believe the handling of the placement was remarkably poor. However, there is a clear opportunity for a significant rebound, with the potential for at least a 50% increase from the current levels before the release of the Itumbula drilling results. Personally, I intend to hold until reaching the mid-30s.

Current shares in Issue: 956.46m

Market Capitalisation :£2.26m

Vol. Bought today: £948,314,582

Bought Value: £2.33m

"That would be crazy risk taking and you might as well buy lottery tickets instead."

I dont agree Legalwolf: "The odds of having your very own set of identical quadruplets are 1 in 15 million – still three times as likely as you winning the lottery."

I believe that there is far better chance of positive or Ok-ish Itumbula results than winning the lottery or having identical quadruplets of you ha

L2 looks solid and buys are going at 0.34.

0.35 is about to go :)))

As expected, can't buy £100 worth of shares. Someone has been buying in £5K since the opening.

Someone has been buying in blocks of £5K on the L2, the sp will cross 0.30 shortly

@neil777, you moved to this board after shorting Petrofac and spreading doom and gloom for weeks there? ha

Sea of blue on L2 & 0.30 being paid . The sp will cross above 0.3 shortly

Its creeping back up & HL currently offering me above the BID for any vol

Wave of buys on L2 , it will rebound shortly

L2 is ready to cross 22p ;)

"Adnoc same advisors on acquisitions as Petrofac hired ( teneo and moelis"

But isnt this a conflict of interest ?

Nice round 50ks, 75ks buys have been going through.

This should move soon

MMs games, they dropped the BID without sells to trigger stop losses then they've hoovered all available shares on the ASK all the way up to 20.40 .

@Traxpern How does that works?

I agree which is why many has started to build positions before the trading update. only 48hrs to go :)

One of the potential assets to sell is its 35.3% operating stake in the offshore Malaysian production sharing contract (PM 304), home to the Cendor oilfield, a long-marketed asset. The focus on PM 304 arises as it is Petrofac's last remaining upstream asset after recent divestitures. Additionally, the company intends to sell its 10% stake in the JSD 6000 pipelay vessel, valued at approximately $56 million in the 2022 annual report. Market observers suggest Shanghai Zhenhua Heavy Industries holds a 90% stake in the vessel and is also exploring its sale.

There's also speculation about Petrofac considering the sale of its O&M business in the North Sea, a significant Aberdeen-based entity with 3000 employees and one-third market control. Despite its potential as a sale candidate, some view the O&M business as integral to the company.