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Hahaha Stuart.
A contrarian bet to them seems to be the way to go normally! Although in fairness they have the very basic coin toss summary of it correct. The question is how much of a bias is in the coin and which way!
Tails : "This company is a very high-risk investment. It’s currently involved in renegotiating the terms of its debt with lenders. If management fails, the group could collapse."
Heads: "However, if the business succeeds, the share price could rally as Tullow gains breathing space."
New account/10 posts all on PFC/
Quite the negative nelly.
"People in doubt it will go below the £1 mark but just wait another week. Once our man Mr Lufkin is sentenced Petrofac will be hit with so many negative news stories this share will plummet, I see 80p end of next week."
Exactly PC, there is very rarely an obvious smoking gun, otherwise these shenanigans come to the surface very quickly.
You need forensic accountants to actively go looking for this.
I would suspect that after 4 years of investigations anything found does not link to others in senior positions at Petrofac.
For those interested :
"60 per cent of 2021 sales revenue hedged. 2021 is hedged with a floor of approximately US$48/bbl, whilst retaining good access to upside in oil prices with caps averaging approximately US$67/bbl.
2022 sales revenue is currently hedged 3% with a floor of approximately US$51/bbl.
Tullow's realised oil price for 2020 was approximately US$51/bbl (versus an average of US$54.1/bbl Brent oil price for the For tyear) including the benefit of approximately US$219 million of net hedge receipts during the period."
Could be just a little positive sentiment in the Irish economy.
"Yesterday (February 8th), the Irish Minister for Housing said that
the government is working towards reopening the construction
sector in March. This perhaps implies that lower risk, nonessential retail — but not hotels, restaurants and hospitality —
could see restrictions relaxed. If so, Irish GDP could rebound
faster than expected, albeit this scenario is clearly highly sensitive
to how new COVID infections evolve — there were 829 yesterday,
with the vaccine rollout still in its infancy."
Great to see them relisted this week and a decent SP increase. No reason we shouldn't see this continue to increase over the days and weeks ahead. Should be passing £4 after year end results in the summer at the latest.
Gusto,
Agree on Rahul. I only came across him first on the CMD in November and he comes across with a complete knowledge on Tullows affairs and a very good communicator.
He was very straight up about the production declines for 2021 in Ghana due to lack of investment but while that is addressed that reduction is offset by the increase cost saving and change of approach by the company and production should rise back in 2022.
Also getting in excess of their 2022 price target this year(if it holds at 55+) is going to help them hugely too.
And we haven't even talked about Kenya FID!
David