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There was nothing in the rns that wasn't rehashed from what pfc have said in the past. we now know there was no inside information being leaked, and the shorters knowing something we didn't. the pis were baying for an rns to steady the ship, and pfc did that by putting all of its bad cards on the table and asking if it justifies the current sp.
we asked for an rns saying there's no reason for the drop and this is what a legally watertight version looks like: yes, of course we have some cashflow issues while we close out the legacy contracts and move to the new ones; we'll certainly need some time and (inevitably) to refinance as the big money come in... but please **** off and leave the sp alone already, cause the company is on the right course and doing perfectly fine thank you very much.
Thing there is no denying there will a combination of equity raise and D4E, which is why we are here!!!! anyway equity should more or less trade close to bonds which is at 40c.
Shame oil price is down today
We may be at a market bottom or at the start of a reaction rally. The bulls have strong evidence on their side and this evidence prompts us to make a bullish bet. Today’s candlestick has a white body and its close is above the confirmation level. The bullish pattern that was previously identified is finally confirmed and a BUY signal is generated. It is probably the right time to be part of this boost and bullish market sentiment. The market is telling you about a possible new profit. Do not miss this chance.
This is a bottom reversal pattern with two candlesticks. A black candlestick appears on the first day while a downtrend is in progress. The second day opens at a new low, with a gap down and closes more than halfway into the prior black body, leading to the formation of a strong white candlestick.
We may be at a market bottom or at the start of a reaction rally. The bulls have strong evidence on their side and this evidence prompts us to make a bullish bet. Today’s candlestick has a white body and its close is above the confirmation level. The bullish pattern that was previously identified is finally confirmed and a BUY signal is generated. It is probably the right time to be part of this boost and bullish market sentiment. The market is telling you about a possible new profit. Do not miss this chance.
This is a bottom reversal pattern with two candlesticks. A black candlestick appears on the first day while a downtrend is in progress. The second day opens at a new low, with a gap down and closes more than halfway into the prior black body, leading to the formation of a strong white candlestick.
You all for kind wishes. I’m confident PFC will survive or be merged into something else like HBR and PMO.
I eagerly wait for a contract award from cop meeting and finance completion
Pal, you know what my average is 112p and hold 220K shares. Hope that puts you at ease. Definition of being involved in this stock well before you all were born. Now I'm retired and counting my days off so I can give it to my children and enjoy few sips of wine.
Squueeezeee back to 40
If you wish to short PFC right now on Interactive Brokers . You are required to have 735% margin cover. Typical requirements are 30% - 200% depending on market cap. 344,000 shares remain on I.B to short . This figure is typically 800,000. The potential short burn here is on an epic scale.
What did he say?
WRONG!!!
THat was last friday thinking they were smart that PFC will not release an RNS.
Guess what happened on 4th Dec?
LOL
US trading closed at 38% up yesterday
From yesterdays RNS - and since then we know they have already been engaged with interested party.
"As the Group pivots to the execution of the new contracts won in 2023, Aidan will commit a significant portion of his time to supporting the Board for a limited period. He will drive engagement with finance providers, investors and other stakeholders in an active review of strategic and financial options to deliver on Petrofac’s potential following its most successful period for new awards in many years.
Those of a short disposition would imvho probably be best exiting any spreadbets or buying what they can at these levels. Just my personal opinion.
Nobody is selling these. LOL
Yup i saw that 200k buy at 23p
soon they will be paying close to 30-40p
PFC have been dropping everyday about 5-15% for 3 weeks.
its only right we go back up to that level with what i think will be way more than $7billion backlog
Below was backlog of projects, up to end of March 2023.
"The Group's backlog(6) increased substantially to US$6.6 billion at 30 June 2023 (31 December 2022: US$3.4 billion), reflecting significant order intake in E&C (US$3.4 billion) and in Asset Solutions (US$0.9 billion), with three major EPC project awards in the first half of the year, which also included a six-project €13 billion framework agreement expected to provide an additional five future 2GW HVDC projects, with the first contract awarded in March 2023 and valued at over €2 billion, split between the partnership."
It is not hidden that PFC has been winning contract since then.
Legacy contracts should be coming to an end now., atleast 6/8 is completed by 2023.
PFC is an easy TO target someone from UAE. Sit tight.
Kawash reveals, “The two ADNOC projects, which have a combined value of more than $1.3 billion, see us extend our credentials in one of our home markets and deepen our relationship with one of our longest-standing clients. They are both decarbonisation related, one by increasing the production of lower-intensity gas, and the other by capturing emissions from operational assets. Also, a key factor is the Petrofac approach to in-country value, with a commitment to maximise local delivery, invest in the local supply chain, and develop local teams.
“The TenneT framework agreement, being delivered jointly with Hitachi Energy and valued at approximately $13.7 billion, is the largest in our history. So, it is significant for its scale and firmly positions us as a global leader in renewables and new energies. It also has an innovative approach to contracting and collaboration, which brings significant benefits to the client in a highly constrained supply market. This gives everyone forward visibility, and enables the delivery teams to plan ahead, secure resources accordingly, and implement a true ‘design-one-build-many’ methodology.
“Meanwhile, the $1.5 billion Algerian contract, being delivered as a joint venture with China Huanqiu Contracting and Engineering Corporation, is the first major petrochemicals project for both Sonatrach and Petrofac. For Sonatrach, it diversifies operations and reduces its reliance on hydrocarbon exports. For us, it extends a relationship with a key client, strengthens our downstream credentials, and demonstrates our ability to expand into adjacent sectors.”
Recent contract win hasnt been RNS'd yet.
https://www.energyvoice.com/oilandgas/north-sea/538239/petrofac-repsol-sinopec/#:~:text=Petrofac%20(LON%3A%20PFC)%20has,pair%20of%20onshore%20oil%20terminals.
PFC have already secured the contract for landmark carbon capture, utilisation and storage project. which was huge. Worth $400million
ADNOC awards Petrofac US$700 million EPC project
This was big one in summer this year.
https://www.petrofac.com/media/news/adnoc-awards-petrofac-us-700-million-epc-project/#:~:text=The%20contract%2C%20awarded%20to%20Petrofac,a%20new%20gas%20compressor%20plant.