Member Info for Garydav2

Hope your not too overly invested here Mary Bri . Price down 16.5 % in a week

Barclays slashed their Brent Crude oil price forecast by $8 a barrel

Oh dear ! What's happened here? Shorts over 11% and price from 40p down to 24p . It's over guys . Big dilution coming ...

That's where the Analyst call at 8 30am I'd so important so we can see through the numbers. This is what all the banks and institutions will be focusing on.....

Dec 20 (Reuters) - Petrofac (PFC.L) said on Wednesday it expected its net debt to be higher at the year-end, due to a delay in securing advance payments on contracts and a subsequent increase of over $100 million in collateral for the guarantees.

The oilfield services provider, which has been struggling with payment delays and cost overruns at its largest unit - engineering and construction, had warned earlier this month that it would no longer be able to meet its annual forecast of "broadly neutral free cash flow".

RNS was positive for Contracts but the devil is always in the detail.

Ner debt up and write downs.

Turnover for show, Profit for dough ....

The Analysts call at 8.30am will be interesting to clarify some of the statements and balance sheet:

Asset Solutions and IES underlying performance in line with guidance, before a one-off bad debt provision in Asset Solutions of approximately US$12 million. Expect a full year EBIT loss in E&C of approximately US$215 million, including US$110 million one-off write downs in contract settlements to protect cash flows. Good progress in reaching contractual settlements in the second half, with approximately US$180 million collected year-to-date. Completion of remaining legacy E&C contracts progressing in line with guidance. Thai Oil Clean Fuels project progress remains on track, with negotiations ongoing to recover additional committed costs.

I think of you check at 9am you will truly be a broke broker !!!! : )

7am is the time to check

Dan, Trax said they are a well respected company and Adnoc loves them : ))

It's all immaterial really.

This will move tomorrow UP or DOWN significantly I think on the content of the RNS. Nothings been leaked that would be insider dealing.

It's all about CASHFLOW and CASH COLLECTION. If they issue further bad news then share price will drop accordingly

Traxpern there are Contracts and legal agreements in place.

Adnoc are not a Charity you know haha. And remember if Petrofac can't honour a Contract then another company will take it over. It's called Business.

The full year free cash flow guidance1 provided with our interim results was based, in part, on unwinding historical working capital and collecting advance payments on the new contracts secured in 2023. While the Group has made progress in reaching contractual settlements and unwinding working capital, given delays in securing advance payment guarantees, it no longer expects to receive these advances before the year-end. Consequently, it no longer expects to meet the guidance previously provided for full year cash flow.

Respect Mary.

Good luck to all whatever side you are on.

Helikon increased yesterday .....

Open Short Positions in Petrofac

Fund % Short Change Date Changed

Helikon Investments Limited 2.90% 0.00% 18 Dec 2023

Astaris Capital Management Llp 2.34% 0.00% 15 Dec 2023

Marshall Wace Llp 0.90% 0.10% 8 Dec 2023

Tfg Asset Management Uk Llp 1.14% 0.10% 8 Dec 2023

Whitebox Advisors Llc 0.84% 0.12% 4 Dec 2023

Tages Capital Llp 0.70% 0.07% 30 Nov 2023

Glg Partners Lp 0.68% -0.11% 16 Nov 2023

Total 9.50%

Now at 9.5 % .....

Oh Mary I thought better of you. That was a statement at that time and they were indeed range bound for weeks. I lost patience granted but I moved onto other trades . Shall we look through your history too? I think you were trying to big up DLAR today on the RNS and takeover rumours . Oh they went down didn't they. Let's try and keep on subject and it's good to have opposite views for some balance . No ?

Have you got a crystal ball Traxpern? The shares are at 21p for a reason ?????

I can't wait for tomorrow. Will have my coffee brewed and will be reading the RNS in detail.....

10p open ....