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Forget what I posted before, I asked the same question with tullow oil and the answer was similar.
But one thing I have just realised is that it will probably be a few years before Skynet takes control of us all.
When I read this article yesterday, I almost had a heart attack.
It was mainly the article by JP Morgen that shocked me so much.
The Berenberg report is just an old hat.
There really is a lot to indicate a conspiracy.
Can you still remember the question to Bard?
You can find the details on page 26
To the question:
has the fact that Petrofac is currently in talks with it's creditors been put in the public domain anywhere?
The answer is the following three fake articles:
Petrofac in talks with creditors over debt restructuring (Reuters, November 22, 2023)
Petrofac's debt restructuring talks could hit lenders (The Financial Times, November 24, 2023)
Petrofac's creditors eye equity stake in debt deal (Sky News, December 2, 2023)
Why on earth would the AI suck these out of their fingers? Someone has manipulated the AI, although I can't really imagine how that would work.
Yes, the link has been removed. I took a photo of it, but unfortunately I can't share it here.
But I think the link also referred to the following fake article that was already posted.
https://www.xm.com/research/markets/allNews/reuters/petrofac-sinks-to-record-low-analysts-flag-balance-sheet-concerns-53708671
@CheshireLad / Thanks for the clarification and detailed information.
As I said, £89m or just £1 makes no real difference to me at the moment. It's pure psychology where there's no confidence, even £1 is too much.
At the moment a word or better an act of trust by Petrofac would be worth more than £89m. So at the moment it looks more like 0p or P/S 0.17 to me. At the moment I'm leaning towards 50/50 that one or the other scenario will materialise. Whether I would buy back now at 79m, 69m and then again at 89m (17p) is pure gambling for me. But believe me, a word, or rather an act of trust or mistrust, will influence the share price far more than +/- 10 million and whether you will still catch the bus is a completely different question.
I think it's too late for that now we have a market capitalisation of £89m for a company that has revenues of around $2.5bn (£2bn) this year (equivalent to P/S 0.045) and based on the order pipeline should grow revenues to over $4bn by 2025, albeit with a correspondingly small EBITDA margin in the low single digits.
Even Wood group, which is also not in a very good position and for which Apollo was recently quoted £1.7bn, with expected sales of £6bn for 2023, has a market capitalisation of £1bn (equivalent to P/S 0.17) or four times our valuation. Of course, a lot of other factors play into the valuation of a company.
The share price could fall even further in the coming days, e.g. 10p, but in fact we already have prices that are equivalent to bankruptcy, although this has not yet been officially announced and there are still considerable doubts that this will definitely happen.
Therefore, any signal that Petrofac can overcome its short-term financial problems should give the share price an extreme boost. So I'm sticking with it, whether I lose the rest now is sad, but I knew at the beginning that this share is associated with a certain risk. Potentially, if they don't go bankrupt or are refinanced at the expense of the shareholders, the share price should return relatively quickly to (approx.) the P/S of the Wood group.
It seems that the person who wrote this article (Reporting by Yadarisa Shabongnein) has actually been working at Reuters for more than 6 years. See also the following Linkedin information:
Reuters 6 yrs 5 mos
Deputy Editor in Charge, EMEA
Jan 2023 - Present - 1 yr
India
Sector Specialist, UK & Africa
Jun 2022 - Jan 2023 - 8 mos
If your name has really been misused for this fake article, it would be outrageous. Since English is not my first language and I feel a bit insecure in communication, I wanted to ask if someone here could contact this woman and let her know, that her name has probably been misused for a fake news article. With far-reaching financial consequences that this article had for various investors.
I have sent a copy of this article to Petrofac and am still waiting for a response.
It seems that fake news is being deliberately spread on the Internet.
Have a look at the following link including the official Reuters logo.
https://www.tradingview.com/news/reuters.com,2023:newsml_L4N3CW2QN:0-petrofac-sinks-to-record-low-analysts-flag-balance-sheet-concerns/
One thing I can already say is that this person (Reporting by Yadarisa Shabongnein) will have legal repercussions if this information is not correct.
I will also send this post directly to JP Morgen and see if I get a response.
well, i'll probably either be picked up by a bentley or a he**** christmas (tongue-in-cheek).
so december is unlikely to be boring for me.
at the moment, anything seems to be possible.
the short strategy will probably be to get out as controlled as possible by 20 dec without creating a short-squeez.
on the way there, they will probably use any means necessary.
an article here and there by a bought journalist at the right time, and the troll army fighting for them will do the rest.
on the way there, several hundred million in market capitalisation will probably be destroyed, even if the results on 20 december are unexpectedly good.
i can only speak for myself. i will not get involved in these games and will hold on no matter what happens - in the worst case scenario, i will have to write off a considerable sum.
nevertheless, i wish you all (even the trolls) a peaceful winter's day, except for the rats of canary wharf, who may drive a company with 8000 - 9000 employees into bankruptcy.
The market is also slowly moving in this direction, towards relatively aggressive interest rate cuts for next year. Under these expected conditions, I think both sides should be able to find a mutually agreeable solution.
https://www.reuters.com/markets/rates-bonds/us-recession-will-prompt-175-basis-points-fed-cuts-next-year-db-economists-say-2023-11-27/
So the shorts should soon be burnt out.
I took a closer look at the volumes traded over the last few days. It shouldn't be long before the intelligent shorts rush for the exit.
For the UK, energy service provider Petrofac (PFC) was the top shorted stock with 96.20 million shares borrowed and 18.43 per cent of SI Outstanding!
In my opinion, the short-squeez will therefore start soon. A. e.g. upper zanktum adnoc, or Tennet 2 RNS could catch them on the wrong foot and put their lights out for ever.
The sfo case has been settled and the fine has been paid. If you are still upset about any losses you may have incurred in the past, you can join a class action lawsuit if one is filed. Otherwise, be an adult and move on. You're making yourself look foolish.