Member Info for Icouldntcomment

Yes Poker, I did know that. I think everyone knows that. But thanks for taking some time to point it out anyway.

It is good to see, for the first time in many years "there are currently no open shorts in petrofac", i. e, it is only expected to go up. Interesting to note WG still has 4 41% open shorts.

I think this quick fall is in line with the oil market. OPEC in the last hour cut global forecast oil demand for the next quarter by 2.8%

Mary, agree. I was also going to say that the sp was 1.58 when the Offer was announced, so we are already seeing approx 20% of the impact. I too am confident pfc market forces and news will come fast on the back of the Offer being concluded and providing upward momentum.

JG68, one can do a few clever calcs on this. But the long and short of it is that if 50% more shares are issued, which there are, then everyone is diluted by 33.3%

Jed, it is a high interest rate but needs must. PFC cannot credibly bid for many and large jobs without the cash to back them up. It does means the company needs a good order book going forward with a sustainable margin in order to keep the interest cover in check; otherwise we'll be paying for it with lower dividends.
Once the 5 years is up and pfc is on a better footing it should be able to finance the repayment of these notes at much lower rates.
I envisage we are going to see quite a sizeable increase in orders from gazprom, others and once ADNOC comes back.

Interesting news re $600m 5 year notes. In short, it takes non current debt on the Balance sheet back to 2017 levels. If we want a 2017 share price then we need a 2017 balance sheet.

With the strategic alliance with Gazprom it is only a matter of short time before contracts their start to be announced.

Oh dear .... schools are off this week !!

Sometimes we see such a SP spike just before the release of some good news? I hope :-)

Looks like we are back to lower volumes and marking time until further news.

Esc, if pfc did a 20:1 Rights Issue at just £1/share, that would raise £6.92Bn. Do inform us all why pfc is in desperate need of £6.92Bn????

I don't think analysts have yet fully digested what this strategic partnership means for Petrofac. I think Gazprom has a mkt cap of about $120Bn; it is huge. They must have looked at Petrofac in detail and want what Petrofac can deliver, which for Petrofac means a favoured position for contracts. Analysts must be trying to work out what this will mean financially for Petrofac over the next 5 years. I think it might take a few days. In short though, it could mean some impressive SP re-ratings.

Is the market in auction. No movement

Two different reports, no RNS no market reesponse. Mmmmm

Strangely not on Petrofac own website yet or listed as RNS. I guess market waiting for confirmation

That's given in dollars, if true then that is £70

You do realise that your comments may be thought to be that of investors? And you do realise that what you post on this board is open to the general public whether they have an account or not. And you do realise that the prosecution and even judge might read this board over the weekend? And you do realise that what you, without much corporate financial knowledge, spout of what might be acceptable; might in fact influence the final decision which will affect you ;-)

Might I suggest comments cease until after the final decision on Monday.

@oilbigheadgame

I've read your historical posts and you seem to be posting all over the place with a very knowledgeable (LOL) and aggressive style. Either you're a genius or a complete prat. I'll settle for the latter. So please please take your very own advice and STFU