Member Info for onwardsnupwards

Cheshire, my last posting was in KAZ seconded to BGC. If you know you know is all I’ll say on companies treading water. Disaster at one point and absolutely flying now. Things happen quickly and generally positively. The Woods, PFC’s, Saipem’s, etc are all well respected for what they do which is what the Oil companies and governments don’t want to do and why ultimately they don’t like to see them fail. Add to that many years of working relationships that don’t have a value on them but are critical to how the whole shebang works.

Agree Cheshire, I’d sell the O&M part. Big piece of cash, reduced headcount and concentrate on the new big wins. I guess some hints will lie in what Tareq managed at McDermott as to whether they do or not. It makes money but heavy on staffing. Does he want a smaller organisation that delivers solutions of the future? Decommissioning will stay as huge opportunities in Australia who have earmarked 50bln of work over the next twenty years and where they are close to finishing the Endeavour project.

I’m ex Shell and always a drive to reduce headcount and to stop themselves trying to be experts in everything. State a strategy and throw yourself at it without distractions

Just need JP Morgan to weigh in a month behind the curve and with wild hindsight on the PFC business.

Yep, the same JP Morgan that needed $28Bln of US taxpayers money to bail them out of the proverbial.

Makes me laugh that so much prestige and trust in a business commentating of business health when it was saved at the 11th hour through their own mismanagement.

I get it SM66 and no issues my end.

One of the good folk on here and appreciate your posts along with the other non blocked posters.

Hopefully we’re all uplifted next week

SM66, I’ve over half a million shares so hardly a poor show. Think my exposure dictates my decisions at this point which I hope you’d understand.

I’m in HL and went through as an unknown (906 shares) at 11:01

S H A T

Just what the bed 😂😂😂

Badvoc,

I generally don’t take notice of people that don’t understand the use of they’re, there and their and it’s spent not spend. And that’s with just a cursory glance.

Off to the green 🗑️ you go

I think PFC will have a tubthumping 20th 🥳🥳

Badvoc,

I think they are going to make a statement of intent that they are a projects company concentrated on energy transition solutions.

Sell the “bread and butter” which isn’t making millions and millions and if you’ve ever managed people a ball ache to do day in day (strikes a prime example).

Short term answer the debt problem, reduce headcount and fixed staff costs

Mid to Long term, close out legacy (finally), ramp up delivery on contracts won (demonstrate best in class) and continue to win new business in energy transition (wind/hydrogen/etc) and decommissioning ((Australia ++ market for ten years and UK North Sea) - both of these they see themselves as competitive and with less distractions aim to get these as profitable as possible.

Problem with the doom and gloom is you can’t have it both ways. Either they continue as is with cash shortage impacting a 5.5bln order book or be progressive, visionary and decisive that the new business won and decomm is where you intend to be, anything outside of that, sell to replenish the balance sheet whilst reducing costs. Concentrate on one or two things and do them well. Both of these areas has large pots of money, bring in the new and retire the old.

They pitch that to me on the 20th and it’ll be equivalent to taking two viagra.

Good luck in what you do but for PFC their options are do nothing and die or make hard decisions now and live and prosper.

100% Redhead - massive bag of coke in transit to the Fitch analyst(s).

What an embarrassment, upgrade last month, shorted to death, update today just when it seemed positive messages relayed through journals that know the O&G business.

100% Broken

Clunge, the one thing that’s keeping my spirits up is that they appear to be operating as normal.

I suspect an internal leak whilst they were out discussing finance options led to the drop given the Fitch upgrade had already happened.

The rest is just guess work from the green blocked brigade but we’ll all know within a weeks time. Still think they’ll be an RNS of some sort before next Weds.

Apothecary, member since 5th December dropping sly little doom comments…

GTF, blocked

Good post and also up on PFC site.

Assume the green blocks are Tony, Snapper, Dogger, all barking again. Looks like a company that plans to be around in 2024 and why wouldn’t they with a 6.5bln order book.

Think the story on the 20th will be;

- Continued search for short/long term financing options (per recent board appointment and note 1 of announcement)

- Sufficient operating cash to continue short term (note 2 of last weeks update)

- Cashflow missed for reasons known and actions being taken

- Majority of legacy closed and collected plus update on Thai Oil

- Bid pipeline healthy (hopefully with a win announced now COP28 finished - unlikely PFC would have wanted to upstage COP28 whilst it was ongoing)

- Financing options maybe laid out

- Business as usual

I hope above is the sum of it but I honestly think they’ll be operating post 20th with a plan in place. If it’s a dilution so be it, will just be a longer term investment on those terms.

Just got to hold firm on the basis they’ll still exist come the 21st. In what form I have no idea and the positive there is that nor does any other poster on this board.

If the companies response is repeatedly “we have a bright future” then that’s positive and tbh the only thing out there worth listening to. The rest will be history post 20th.

Ocean, assume you’re the same user that posted the below yet feel a link to the lottery isn’t trolling?

And another one blocked

This is where i think LSE gets it wrong.

tradey choose to take on the trolls single handed, felt the need to address every post.

it became obvious that the extremis nonsense spam of a small number of users was getting to the user, no doubt becuase of a substantial share holding.

in my view any extreme views should be banned on here, as they do influence trading positiions. especially when the user spams the board for hours a day.

I’m not to far behind Clunge on holdings.

It’ll move back and just need to hold our nerve.

The clown will be in tears a week and a bit