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Meed costs $3600 upfront to subscribe. They have reported two new contracts in the last seven days - big ones - for Petrofac. When the RNS drops, as it will, this month, along withe non D4E balance sheet solution, 100 in one day.
Silly petition about banning short selling. Picking an undervalued over shorted stock that won’t collapse to zero is a sure fire way to make money. The cretins and fools shorting this stock are lemmings rushing towards a cliff. The planks and morons chasing them ate going to get wiped out. Good, thanks for pushing the price to the floor! The only way is up now. Even rumours of good news have it climbing 15%. When the balance sheet solution is revealed that could easily be 150%. Of course DYOR, and don’t bet your shirt or the ranch unless you have spares.
If short sellers had inside information they would either be increasing their position or reducing it, very quickly. Even the BOD may not know what is going to happen.
It’s $300 a month to subscribe payable yearly in advance I would be very surprised if they have made a mistake. They are talking about drilling not refining. It may be just a handshake and no LOI yet so Petrofac cannot report it yet.
No that is a downstream project: refining. The article is about an upstream project: drilling.
It's old news from June last year
https://www.nsenergybusiness.com/news/petrofac-signs-1-5bn-epc-contract-algerian-petrochemical-complex/#:~:text=Petrofac%20has%20signed%20a%20%241.5,%26%20Engineering%20Corporation%20(HQC).
Upstream is drilling so it could be a scoop that has caught Petrofac flat footed. No other reports either. Up to 28 already 8:07 so could be genuine.
I now firmly believe there will be a short squeeze soon. This could be following a takeover approach which solves the balance sheet issue or a BOD derived solution to the balance sheet that does not involve D4E. Petrofac and Wood group should of course merge. There is significant value in both businesses, they are non-Tech high barrier to entry businesses. They are long term infrastructure businesses that are both undervalued and will provide a longterm return. I think if Apollo had acquired Wood Petrofac would be next.
There is no way they are diluting the shares. This share will hit 100 in May.
A positive RNS combining better year end figures than expected, balance sheet solutions and a new contract on Tuesday or possibly when the kids are back at school would see this hit 150 and stay there. Just dreaming I guess but we deserve it for hanging in there.
If we can gain 15% next week should hit 30 going into April then when the balance sheet issue is solved 60-100 by end of April.
To push the price down they need to borrow more shares to sell. They can only push it down so far by buying and selling. They do not act as a group they are all predators. They base their positions on the results of algorithms that produce a probability curve. It’s a calculated risk but a risk nonetheless. The fact short positions have increased can be a sign of worry or doubt on their part rather than confidence. We are all waiting for the same information although the herd is betting on a good result the short positions are praying for catastrophe.
Europhil is right about the balance sheet. A takeover would solve that and for a long term player like Apollo, with deep pockets, it may well be an attractive proposition. Informal talks and negotiations would not need to be reported. Why refinance if that is the case, sure they would need a fall back to negotiate the price up, but that would be easier to negotiate if there is an interest. The share movements here are not just bots and pump and dumps. Not 15% anyway. Something is in the wind and it is not D4E that is for sure. Still believe 100 likely in the short term and 300 in the medium term. In the long term 1500. PFC is a classic example of an undervalued long term non tech investment that would interest a private equity fund due to its slightly distressed financial status and lowish bond prices. Any approach - and I think there will be one this year - will be a bonanza for LTHs who hold there nerve for the next six weeks.
Something happened that is positive enough to kick it up 15% in one day. It steadied yesterday even as many took profit. This news explains it so imagine the rocket when the balance sheet is sorted. If Apollo do express an interest…
And down we go….
Financials sorted, new contract, Apollo circling. 150 likely.
Yes price holding and increasing on early trades. Short squeeze is starting as rumours of Apollo’s interest spreads.
Apollo are sniffing around. A better order book than Wood. Ripe for rationalisation. Let’s face it 75 per share would be a generous offer if dilution is the only realistic option for the BOD.
Most of yesterday’s trades were small and buying i to a price rise. The short position stats are a few days behind. Some people will know what’s what but none of us are one of them, so guessing is all we can do.
13.25% rise 8,000,000 traded. Positive new could easily hit 60 in the very short term ie 10:00am tomorrow.
7,000,000 traded so far and a 10% rise. Got to be insider info.
There seems to be a lot of automated buying and selling. Interesting that this happens as two shorters increase their positions. Perhaps another is bailing now on the basis of inside information, last time it went up to 30. If the balance sheet is sorted we could easily see 100. Petrofac have a bigger order book than Wood Group. 300 is my target in a year.