Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Just adding as soon as I can move some fund across. Yes I knew it might take a breather at 42p and felt 30p was optimistic, so at 23.5/24 I am thinking we have seen a full gap fill from when the RNS on 20th Dec landed. Well perhaps a penny lower in the 22’s but not risking it. As soon as the price jumps back up I’ll review at 40p - good to take some off regardless where you think the price will be in 6 months say. I can’t see much shorts adding juts a few newcomers it looks like.
Guys look at the Proactive article from 20/12/23 - shorters cash out? Well only Marshall Wallace had during that period, so goes back to my theory about who else has been buying?
On a side note Offshore energy reported on 8/1/24 that “UK-headquartered energy giant BP has hired Petrofac on a long-term contract for work at its Greater Tortue Ahmeyim (GTA) natural gas project off the coasts of Mauritania and Senegal.” And in addition Rigzone cover the same story yesterday adding: “ In a media release, the energy services specialist said that the multi-million-dollar master services agreement includes onshore and offshore management and supervision, provision of personnel, and equipment maintenance.
“Having supplied operation services for the floating production storage and offloading vessel and liquefied natural gas hub since 2022, and developed operational procedures in 2021, this additional scope demonstrates BP’s confidence in Petrofac and supports our selective geographic expansion strategy”, said Nick Shorten, Chief Operating Officer for Petrofac’s Asset Solutions business.”
The contracts keep coming, so just a matter of time for the money to catch up with the work!
No we have a buyer of the shares - I don't believe it is retail nor as we know is it the short players. All to be revealed I believe. Waiting for another contract win RNS, forward payment receipt or holdings RNS
Well IPA what I know is that the shorts increased during the period in Dec 23 and even when it was 20p they added to their positions, with the exception of Marshall Wallace who are now exited or below notifiable level. Yet the share price moved upwards against that backdrop to circa 42p. So someone is buying because the shorts dont appear to be closing…….don’t be surprised of a 29% position showing up and a potential TO tabled.
Also on a plus note did anyone else receive an email from Investor Relations this week? I did - just saw it last night. It states: “Petrofac takes its market reporting obligations very seriously, and any change in guidance is disclosed accordingly. This implies that absent of any further announcements, the guidance provided still holds. In the meantime, our Group continues to be committed to keeping the market informed, via the Regulatory News Service , of any updates, as appropriate.
Potential is now set for this to rip higher. There was the start of a bounce back and looking at the Late RNS regarding Schroders reducing from 9.45% to 3.74% on 30th Nov - helps you understand why the sp dropped from 70p to 30p at the time - shorts alone could not have done that and at the time short positions only accounted for about 4%. All these shares have been bought - question is by whom?