Member Info for MaverickD

Confident that we will be moving higher……all in play right now!

Massive orders to fill they wanted stock!

Takeover details more than likely

It’s gap filled the sharp move at 12pm……should see the buys lift again

Up she goes as those large buys are filled up - next move should see us at 26p pretty quickly

I just added MMs are trying their best to fill orders…….confident of a rise

Well I was thinking we may well hit a wall come 28p, however we still have some shorts that need closing and that could well send the sp in price discovery mode. Another consideration may well be an agreement with some clients to forward pay contracts to some extent and that too will be a big bonus! That in itself depending on funds generated, along with non core disposals could get the SP back to 70-80p

Im sure some have been averaging up today

Should seee some volume into the close

See the way I see it even a low ball offer of say 55-75p is multiples from where we are now. Just a case of holding your nerve as the BOD have probably been courted by a few interested parties - expect some traders talking about numbers over the weekend. This distressed behemoth will find a white knight pretty soon!

I can’t see this not braking a lot higher………Takeover or cash injections coming ……..Story below and the Shorts WILL cover and have been this morning

Leading oilfield services provider Petrofac has seen a significant surge in its share price today, up over 21%, driven by an uptick in investor confidence, as rumours of a takeover mount.

Industry insiders suggest that a substantial offer is on the horizon, with a prospective price of around £1 per share, as several major players are believed to be in the running for acquiring Petrofac.

Among the contenders, the names that have surfaced include Schlumberger and Halliburton, both of which are global giants in the oilfield services industry. Acquiring Petrofac could strategically enhance their service portfolios and expand their market reach.

Another potential suitor is TechnipFMC, a leader in subsea, onshore/offshore, and surface projects, which might find Petrofac’s engineering and construction services highly complementary to its existing operations.

National oil companies such as Saudi Aramco and ADNOC (Abu Dhabi National Oil Company) are also speculated to be eyeing Petrofac. These state-owned enterprises have been actively expanding their oilfield service capabilities and could see significant synergies with Petrofac’s expertise.

Private equity firms, including Carlyle Group and Blackstone Group, are known for their substantial investments in the energy sector and might view Petrofac as a valuable addition to their portfolios. Their interest could drive the competitive nature of the bid process, potentially leading to a premium offer.

Additionally, international conglomerates such as Mitsubishi Corporation and Siemens Energy have been mentioned as possible bidders. Their diversified interests and strategic goals in the energy sector make Petrofac an attractive acquisition target.

Regional competitors like Wood Group and Lamprell might also be considering a strategic takeover to consolidate market share and enhance their service offerings.

While the exact details of the potential bid remain undisclosed, the surge in Petrofac’s share price reflects growing optimism and anticipation among investors. The coming days will be crucial as the market awaits further developments and official announcements.

For now, Petrofac continues to be a focal point in the oilfield services sector, with its future potentially reshaped by this significant takeover speculation.

I was mocked by a few here when the price was 14p and I suggested 20p+ …….Ivor appears to see it differently now

Shorts are finally closing!

Expect a pull back……don’t get spooked - but its sailed higher 24.5p

21.9p to buy

Clamour to buy in right now…….

295K buy at 21.45 and lots of buys filling at 20.4

Looks as though we will break through 20p like I stated a few days ago and a move to 23p is probable. We still have short disclosures of 10% so there is enough fuel there alone for this to easily double! I have been been here before with TLW and HUR and in both cases I did really well - Petrofac is a lead player and I’m sure we are going to see an approach and/or someone dig deep into their pockets.

What say another few late reported buy orders filled - will be good to have a look at the Shorttracker later

Holding firm and a couple notably large buys filled