Member Info for PFCvetran

Does anyone know the exact start date for our new CEO?

After months of being depressed about my holding here I’ve decided to spend the day reviewing my position and the potential risk reward for 2023.
My assessment is that although the sky may not be as blue as when we came out of the SFO investigation and we hit £2 briefly, I think an upside from the current position is a good bet.
83p is a dramatic undervaluation.
The drop from 120p post Sami’s announcement was overdone and the price has been manipulated down by those who feed on this type of uncertainty.
My view is that unless we’re being fed a complete fabrication by the board, £1.5bn worth of business should be in the bag for hopefully late Q1.
With all this in mind, I’ve gone in hard today and significantly increased my investment.
This has brought my average down to £1.35 from £1.55.
After 7 years of mostly awful news, I choose to believe that 2023 is the year when the tide turns.
I smell profit at long last before the summer is over!
Anyone else with me, or have I just finally gone mad?

Ouch, my sympathies Dave. I pumped a lot extra in over the years to get mine down to £1.55 but I’m massively over exposed. £2.50 pays off the mortgage…..but I’ll probably have paid it off anyway by the time PFC gets to that level!

Getting absolutely killed here but not selling.
Wishing I’d sold at 125p but I know I would have just bought back in as soon as it went sub 120p.
Not selling. Can’t risk it. Although every trading update for the last 5 years has been followed by a dip.
Never thought it would break 100p for more than a few days, couldn’t see 90p and 80p was impossible.
Now 70p will be gone before the close today.
Who knows where it will land by close tomorrow.
I’ve invested way too much in this share over the years.
It was going to be my mortgage killer.
Still holding, but even if the announced a 1bn contract tomorrow, it’ll take another year to get back up to my break even point, let alone my aspirational exit point of 250p
Merry Christmas :(

Not sure what’s going on here but after years of getting killed on this share but progressively averaging down, although this latest dip has me 50% down on my overall investment.
Not adding any more, even at these levels, but I am sure as hell NOT selling.
It’s an all or nothing bet now. Either the contracts come or they don’t, but pulling out now is madness when on the face of it nothing has changed other than the CEO news.
I’m hoping for at least some optimism in the trading update next week though to stem the bleeding.

Significant coordinated activity here. Wish we could be in on the secret. Surely can’t go below 80?

I’ve been buried in this share since the first pre SFO drop back in 2016, investing more and more to leverage down a huge average to a c150p break even.
It’s been a miserable 6 years but I don’t think at any point sentiment has been lower than it is right now.
Wish I’d checked out with the £2 spike post SFO completing their hatchet job.
Can we expect any awards ahead of the CEO change next April? 6 months with a lame duck is a long time if the cupboard really is bare in terms of big contracts. Even then it will be months before the new guy has set the direction and hopefully driven new business. 2024 before the turnaround?………aaaaaaaarrrrrggghhhh!!!!

……oh for f**** sake!

Against my better judgement I’ve topped up again at 100.5p.
My average is now down to 150p after all these years of progressive averaging down and adding.
My target sell figure is now 250p……will that day ever come?
The strange thing is even with the SFO a distant memory, the promise of big contracts and the new management team……I feel less confident now thank at any point since I first got on this PFC rollercoaster in 2014.
If this one doesn’t come off by the end of 2023 I’ll be working until I die!

After all the optimism last autumn that this year would finally be the turnaround year for PFC’s long term long suffering shareholders…… it looks like we can pretty much write off 2022.
I hope it comes sooner and that there are a couple of huge contracts in the offing, but from this low base it’s not likely to give us the returns we’ve so long fantasised about.
I’m in deep and I’m not adding any more. I’ll hold until Q3 2023 at the latest.
So demoralising to see it this low again.
Sorry for the moan all!

Good response silverfern! All in good jest ;)

Sir, this is a Wendy’s (well, a PFC message board anyway)

…..increasing Capex investment to c£50bn this year. Let’s hope PFC scoop a nice big piece of that pie!

I’m mean it’s pretty bleak but comparatively PFC is holding up.
Wood Group hit 167p today and it was nudging 250p less than 3 weeks ago
I know there are other factors at play but PFC has at least held resistance at the 102p-105p band.
I deliberately haven’t looked at my account for a while after shoving an I’ll judged extra £15k in the mix at 117p
Averaged down to 158p to break even and now 278p to pay off the mortgage.
4 years of hell……9 months left of 2022 to finally see a turnaround!

Sticks and stones my brave keyboard warrior, sticks and stones.

Of course. The context you’re omitting is the lift that Wood and others saw prior to the market turn. PFC underperformed consistently throughout this period with only one short lived spike.
Most of us on this board track this share over years not weeks / months.

Wow, hands up who thought we’d ever see 110p again after the closure of the SFO case?
We’ve all shared lots of theories over the last few months but let’s be honest…..no one on this board has a clue what’s going on, including me.
Clearly there’s some sort of game being played but I can’t see any winners or who really benefits from some of the huge recent moves.
The bottom line is that PFC as a share is in as bad a position as it’s ever been.
No RNS, no contract news, no ADNOC news….silence.
I’ve always, ALWAYS been confident that things would come good and that this 4 year trail of misery would end with at least a modest pot of gold….but as we edge towards the end of the first quarter I really staring to worry that that road is never ending!

With the unusual trading pattern of a major shareholder reducing their exposure at the moment, I took the decision to top up and average down a little further. As a long term shareholder who was in at the peak, average is now down to £1.58 but I’m in very deep in terms of pretty much all my eggs are now in the PFC basket (like several on here).
If we hit £3 by the end of 2023 I get to pay off my mortgage. If we don’t then I’ll finally surrender as long as I’m above water and cash in.
As I’ve said before, what a totally depressing ride though! Apart from the short lived joy of the SFO investigation closing and the short lived spike to £2…..this share has bought nothing but misery lol.
Surely by the law of averages we’re due a run of good fortune at some point!

Well it looks as if all the “fill the gap / tidy the chart at 1.15” talk turned out to be nonsense ;)
A half hearted bounce to 1.19 before the inevitable trickle backwards again.
Still holding firm and playing the (VERY) long game, but by God it’s hard, dispiriting work!
In my view we’re a big contract and the opening up of ADNOC away from £2, with £3 dependent on no more variants, solid OP of £80+, and a steady trickle of ongoing contract wins.

Scrub that, I was looking at old data! I can see now JW down 4.8% etc