Member Info for onwardsnupwards

Forgot to ask Poker, what’s a mortgage?

Mortgage and energy aren’t a great example Poker because they are doing exactly that with many of their customers. If you’re in debt and declare you can pay a pound a month there is nothing they can do about it.

No doubts on the short term funding issues but clearly they currently have enough at the moment to continue operating and ultimately deliver those marging. Or they don’t! And we’ll find that out in the next two weeks.

Personally I don’t like shorting when ultimately it’s individuals (PI’s/Employees/Pensioners) that get hurt the most. I get Pokerchips views that it’s a mechanism to stress test the viability of a company and that as much as shares can be borrowed, likewise shares purchased may also be via credit (I don’t personally know people borrowing money to bet on a share increasing). I don’t like on the basis of sensationalising a companies plight that then hinders its possibilities to restructure or refinance when it’s value is driven down by charts/rumours/conjecture and very rarely on potential. And I don’t like when you could make a company with 8bln order book and 3,000 staff in the UK potentially redundant when we enter a recession and interest rates are hitting many. But it’s here, it’s legal and it’ll be staying whether we like it or not.

Now. What has bothered me is PFC IR who I think handled this very badly whether withholding information or sitting in denial for a month plus. As much as the FCA don’t have the resources and tbh I don’t think would judge in any way in PI’s favour on this, we do have a voice and we should be writing to the CEO directly requesting the removal of the IR staff. Personally, I think they failed.

My view. Not expecting agreement but happy to hear everyone’s thoughts. That being everyone that’s not blocked.

Good point Ivor, consider the courts are backed up to the hilt this was likely stuck in the backlog and is as you say, an old case.

Agree Dan on the bad publicity and they’re not helping by declining to comment. Is it Petrofac bringing charges against two former employees (good governance) or another party charging ex PFC employees (not good)?

Apologies to the decent folk on here but wet wipe brings the council estate boy out of me. He’s back on block and I’m back to chilling out.

Good luck all and we’re in to the last two week window for news. Not long now

you’ve literally spent three months abusing everyone on here you dick. wet wipe ****r.

name date and place mate and we’ll see what you’ve got. in the meantime stfu or go play with the pube youn**** through

Wet Wipe, you so make me laugh.

Take your keyboard away and you’d be left with your little shrivelled dick to play with. Nobody likes you.

Agree Cheap. Just needs to ride out this storm and hopefully Aiden lives up to his lofty billing

21 & 22 results…. Still waiting on 23’s 🙄

Cheapshareboy, last years results were a month late due to the auditors flagging an issue that resulted in restatement of 22 and 23 results, hence April. Every other year last week of March so yes I’d expect comms before end of Feb (28th latest) before silence until results day.

WalkieTalkie, they will have to communicate something at latest week of 26th Feb given the expectation of Full Year results on 28th/29th March.

Personally think we’ll see something this week or next similar to Trickys thinking.

Like the link and definitely a lot of that been happening here since October (less the last month).

I can cast iron guarantee I am invested and a LTH

I also own KPA (wetwipe as now known) as well as my shares. I live rent free in his head and all he now looks to do is offer fights 😂 to all and sundry that have got bored with his one liner garbage of its over. He couldn’t finish a fish supper but in his world he’s the hardest man in the world, no make that the universe.

Sleep well wetwipe. That’s it for me today and leave you to stew all weekend. Yorkshire derby for me as the mighty Leeds go Marching On Togethet.

Keep doing your just eats drop offs nibhead.

Closest you’ve been to the hydrocarbon sector is the Vaseline you use nightly.

Agree Oilhead, I also think we’ll see some more ADNOC work. You understand in detail from experience how important the oil service companies are and the relationships they hold. PFC were put on the naughty boy step by ADNOC but they wouldn’t have won two contracts last year following the lifting of the ban if a) ADNOC did not trust them to deliver (they clearly do) or b) they have a good relationship and understand counterparts they will be delivering with.

This sector is sooo different to any other and ain’t always about the money.

And that’s the crux of the situation SJ.

None of us really know what have, what they need or to what degree they want to reshape the balance sheet.

What we do know is they have over $8bln of contracts (margin unknown). They have two portfolios profitable to the tune of £100mln for 2023. They have debts to service with the larger one in 2026. Short term they need to be cash fluid (PC, you are correct in cash is king) to unlock advance payments/continue delivery of projects. We don’t know the receivables to be collected or collected since 20th December but legacy (predominantly Thai) my guess is between £350-£500mln. We also know there is a supposed $60+ bln pipeline for 2024 bids and dependent whom with I’d take a gamble on recent wins giving them a further $4-6bln of wins to add to the $8bln order book.

So lots of moving parts but very little negative other than probable cash of 100-200mln short term requirement. Can that be managed through renegotiation of credit, legacy receivables collected, sale of asset (I personally have no idea who gets hit in that scenario) or other solutions that I am sure are bottom of the list D4E or JV. If they ride this with the first three options then their price for a takeover will be big and they may not want to go that route as the past in their mind is behind them. Why recover a company to give all that value away?

So, in summary, we don’t know but I’m 99% certain they aren’t going bust. Everything else is a degree of pain or joy.

Had to temporarily unblock KPA as I knew I’d 🎣 landed it. Back on block smiling away at living rent free in your tiny fukcing brain KPA.

Night night wet wipe boy

Yep. A really poor analogy from the boards top consultant. KPA’s wiping himself down at the moment though he’s so in awe of the great one

We’ll know when they want us to know unless Astaris and Helikon announce it first 😉

👏👏 great post clickit