Member Info for E_AL

# Trades 3,336

Vol. Sold 2,681,089
Sold Value £3m

Vol. Bought 4,725,650
Bought Value £5m

They have tried really hard today, but it looks like they couldn't buy as much shares as they've aimed for! I think shorting at 52 weeks low becoming expensive to them & they'll give up soon.

At the end of the day you can't squeeze a dry lemon, whoever wanted to sell have sold already..........

Buy/Sell
Wednesday 5.1M : 2.47M - Sp drop -0.99%
Tuesday 4.4M : 2.2 M - SP drop -3.07%
Friday 19.3M : 9M - SP drop -27.52%
Monday 8.1M : 3M - SP drop -5.5%

RYE is trying really hard since lunch time to drop the sp as low as possible, IMO we hit the rock bottom so they are trying to squeeze out the last bunch of traders at 52 weeks low before covering.

I wont fall into there games, PFC worth way much more than where we are atm. Holding here!

"It was 105 just a few months ago. It wouldn’t be surprising for it to dip back to that level."

he sp hit 52 weeks low 106.5-110p when Brent was $36, no vaccines & FTSE 30% lower than were we are atm

The technical chart looks heavily oversold so the sp should see recovery shortly

Nice buys
08:46:03 109.25 45,754 £49.99k
08:45:46 109.25 45,754 £49.99k

Wigwammer, this has been going for 3 years, yet no case against the company or its current board.

For the sake of the argument, let’s say after spending 3 long years looking for any shred of evidence against Petrofac the SFO manage to find one and decided to press charges. Then there will be a case, a couple of years of trials, hearings, procedures and IF the judge rule against Petrofac they’ll then either appeal (one or two more years of trials) or pay a fine which is already priced in today’s sp!

“ buy when the fine is announced. ”

Wigeanner, I thought there should be a case against Petrofac first, trial(s), hearings, find the company guilty then impose a fine?!!

“ From 15 January 2021 RNS: Petrofac confirms that no charges have been brought against any Group company or any other officers or employees.

No current Board member of Petrofac Limited is alleged to have been involved.

Petrofac's management is committed to operating at the highest standards of ethical business practice. ”

Quotes above the ASK for any decent volume & BAB has bounced back to all day high, for some strange reason we are following BAB sp movement

"My question is as the outcome will be on 11 Feb 2021 so between then there will be even better price to buy? "

The ONLY outcome you'll get is convection of a former employee.

They are desperately trying to drop the share price further but with no luck, PIs are topping up whenever the sp goes below 111p.

At the end of the day you can't squeeze a dry lemon, whoever wanted to sell have sold already..........

"The jury were unable to reach a verdict against a third defendant, Paul Bond, which will lead to a second trial in January 2021. The SFO has said another defendant may be added to that trial. Akle has announced his intention to appeal."

Many more months to come before Unaoil sees the end of this .

".they see short term continued struggles in the sector and are taking their chances that big new contracts are still a way away and the economies wont open up as fast as some think.... ... they are speculative short ..rather than speculative long ..."

Then they would be better of shorting many other overbought companies in the sector rather than a heavily oversold one which likely to get a technical bounce anytime soon

I totally agree Bladey. The sp hit 52 weeks low 106.5-110p when Brent was $36, no vaccines & FTSE was 30% lower than were we are atm

The technical chart looks heavily oversold so the sp should see recovery shortly

"The financial professionals at Rye Bay Capital LLP, founded in 2015 and based in London, England, increased their short position from 2.98% to 3.24% of Petrofac shares on January 19th, 2021."

Obviously RYE is struggling to keep the share price low to cover......It seems to me a massive bounce is on the way!

Its the first time since the drop we test the 200days moving average on the 5 mins chart!

Not sure for how much longer they could keep the sp down

20-Jan-21
08:14:42
112.00
86,946
Buy*
£97.38k

Mark, without adding to their position RYE won’t be able to suppress the sp to cover, hence we have had 3 days of double/triple buys to sells vols . Once most of the weak hands/impatient traders sell, we’ll then see a decent recovery.

PFC is heavily oversold on the technical chart atm so many expert traders are waiting for the turning point to hold positions here (many already did today)

We have two supports here, 106.5 and 111p from 52 weeks low. The share price just bounced off the 2nd support & I think it is the bottom and we'll gap up tomorrow, otherwise we might test the 106.5 support (Unlikely: 106.5p was when we didnt have vaccines/Brent was $36)

Doc from Twitter just bought in, many will follow him

"companies likes petrofac that are in trouble dont get takeover they left to rot like carillion was not saying petrofac will go under but to be taken over that a Big no no i am afraid"

I dont think your logic bode well with the company's fundamentals :

Market Cap is £390M
Revenue is £2B to £6B
PFC has £5.46B in assets
Cash is £857M
Pipeline Business is £5.5B
Outlook good with vaccines & Improved oil prices

Oh I see, thanks Pokerchips