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People seem so angry maybe because a lot of money has been lost for some people on this share, it is only money guys relax. All I will say is in one years time this share price will be sub 100 for sure most likely sub 50. Stop getting so angry because people like me are trying to stop you from losing your life's savings on this failing share.
I hope everyone is strapped in for results day because when that hits this share price is going to look VERY grim. The writing is on the wall for a really bad results announcement, all I have to say to is good luck is you are holding this through results!!
This board is a bit of a ghost town lately, I think people have finally realised that this share is doomed. No big contracts in over a year, getting battered down time to move on take your loss on the chin and onwards to other companies plenty out there!
I need someone to explain why this share is an attractive purchase? By every metric this share looks to lose BIG, another ministry just blacklisted you. ADNOC is also preparing some BIG contracts that would help PFC out of the doldrums but now that have been quashed! Get some sleep people and set your alarm for tomorrow have a think about maybe accepting a loss.
The thing that people need to understand with this type of company is there cannot be any surprise good news in results. When PFC wins a big contract it has to be put out with RNS and I am afraid to say there has been ZERO big contracts $500m+ lately, just small contract wins. PFC cannot just hide massive contracts and we all need to be honest PFC NEEDS a big contract I would say even needs 1billion + contract.
Well now the chances of being re-awarded the cancelled $1.65 billion contract are up in smoke. Also Abu Dhabi was the last light in the dark for PFC now that light has been extinguished. Get out with your loss now before all your savings are up in smoke.
It is good to see Petrofac winning a lot of contracts lately BUT the value of all these contracts are chump change to a company like this. To swing the confidence on this we need a 500m+ contract not a couple of 10-20m.
Ziad Akle got sentenced 5 years in prison for paying $500,000 in bribes, yet our man Mr Lufkin paid over $50 million in bribes! People who think this is going to just blow over are very very delusional, the punishment should be far worse for Lufkin and what company was he working for? Yeah Petrofac. Once the sentencing comes crashing down this share price is going to be blown out the water to sub 100 levels.