Member Info for E_AL

" to deliver on Petrofac’s potential following its most successful period for new awards in many years." Petrofac CEO

Bounce time

Weiro….

Redheadedrager, I'm in a similar situation, mate. Personally, I plan to hold until the 20th. The market capitalization seems ridiculous for a global company that secured billions in contracts this year with payments expected in H2. If they choose to strength their financial position with strategies like D4E or rights at this share price level which is heavily discounted to the average of all its institutional investors , it might echo the Aston Martin scenario, experiencing a significant drop within couple of days, raised @30p then rebounded massively within short period of time . Petrofac, unlike Aston Martin, in much more stronger position in the market. It also has survived serious m challenges, such as the SFO scrutiny with a share price rebound post-decision. With the upcoming trading update, I anticipate Petrofac either reinforcing its financials before December 20 or reassuring the market on the day.

“FreidasBoss: 9:00am this morning on I.B it PFC hit less than 40,000 shares available to short . Down from 400k 24 hours ago. If this pops, don’t cash in at the first rise.“

Any update mate? Thank you

“FreidasBoss: 9:00am this morning on I.B it PFC hit less than 40,000 shares available to short . Down from 400k 24 hours ago. If this pops, don’t cash in at the first rise.“

Any update mate? Thank you

Right at the bottom of your conversation with BRAD AI , it says the following:

“Bard may display inaccurate info, including about people, so double-check its responses.”

The following never took place and it’s a misleading information, therefore I will report your posts which you have quoted from Brad ai:

“In October 2023, Petrofac announced that it would be taking a $1.5 billion impairment charge on its oil and gas projects. This news sent shockwaves through the company's share price, and it also raised concerns among its creditors. As a result, Petrofac's lenders agreed to waive certain covenants in its loan agreement.”

A short position closed?

OPEC+ said to have reached a preliminary agreement for an additional oil output cut of more than 1 million barrels per day

I mentioned this information yesterday: approximately 50% of the total shares are held by Asfari and Institutional Investors, leaving only half of that available to the public. Additionally, there are Private Investors (PIs) like myself who are unwilling to sell at a significant loss, further reducing the overall available shares to roughly one-third for shorting and day trading.

If Petrofac issues a statement, announces new contracts, provides a positive trading update in December, or new investors join in, then we can expect a substantial rally as shorters scramble to cover their positions.

Since the market opened this morning 1.5 hours ago, about 2% of the company's freely tradable shares have been exchanged. Massive massive volumes has been threaded over the past 96 hours !!

30-Nov-23 08:15:16 22.9842 500,000 Buy* 22.14 22.58 £114.92k O

@CaptNemo: “with 522m shares available”

Actually around 50% of the overall shares are held by Asfari and Institutional Investors. So only half of that figure is available for public. You also have some PIs who refuse to sell (like myself) for substantial loss, this leave I’d say one third of the overall shares for shorting and day trading.

If Petrofac releases a statement, new contracts or positive Trading update in Dec or even new investors with deep pockets joining the club then we’ll see a monster rally by the shorters to cover

@shaml89: Petrofac’s bonds were @53 on 28th of March 2023 , two days later: 30th March 2023 bonds were @71

Approximately 5% of Petrofac's total shares were traded today. Considering that about 50% of the shares are held by major shareholders, today's trading volume represents approximately 10% of the freely available shares!!

Today marked the highest daily volume of the year !

Yep, I just saw it !

29-Nov-23 13:58:28 24.15324 600,000 Buy* 23.00 23.22 £144.92k

Form August 2023 results:

- We remain focused on closing out legacy contracts, with five of the remaining eight contracts expected to be completed(5) during the second half of the year or early in 2024

-Bidding activity remains high with a total pipeline scheduled for award in the 16-months to December 2024 of approximately US$44 billion, of which US$8 billion is scheduled for award in 2023.

-Asset Solutions has secured revenue of US$0.7 billion for the second half of 2023. The business is expected to continue to perform well, with revenue growth driven by focused geographic expansion and new order intake in Well Engineering & Decommissioning. We expect EBIT to be second half weighted, with a healthy full year EBIT in 2023, albeit lower than 2022, reflecting the roll-off of certain high margin contracts and a higher proportion of pass-through revenue.

-At Group level, we expect cash flow to be broadly neutral in 2023. In the second half, we expect a positive tailwind from cash advances collected from new E&C awards won in the first half, coupled with an unwind of working capital.

My post from last night:

I've noticed that Petrofac’s bonds decline ended last week and it has been slowly recovering since. Despite this, Petrofac’s share price dropped by over 33% since last Tuesday. I think hedge funds find it easier to manipulate the share price lower rather than continuing to short the bonds, which can be more expensive & harder to buy in decent volumes and of course come with higher risk (different to buy in volumes if quickly needed) and of course impossible to nakd short sell unlike shares. The bonds are mainly owned by IIs & Banks. The minimum purchase unit for bonds is 200k, but on the other hand shares can be purchased in any volume and short positions can be increased in smaller increments. In my view, this appears to be a coordinated short attack, creating fear in the market to triggering stop losses and load up on the cheap while they can.

I can see a meaningful rebound before the trading update.

https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26

RSI is already 16% on the daily chart & hundreds of millions of shares sold short need to be bought back before the trading update so I am expecting sp rebound very soon

The daily RSI is 16% (oversold).

The SP should rebound soon