Member Info for PFCvetran

Me wishing that I’d piled in at 10.5p, made 20% and then dived out at 12.5p, and then remembering that it’s exactly that kind of stupid thought process that got me deeper into the PFC death spiral in the first place.

Logical thinking back on track, waiting for the post dilution opportunity……

Hate to break it to you, but 47% isn’t a majority….

Still only 47% on board. This is like a long drawn out death rattle.

If Aidan is the saviour Mary, he’s definitely got productivity issues………

……what does this mean for Monday?

I’m still out apothecary. I’m back in if there’s a real bargain to be had. With the shorts losing interest and drifting away I don’t think there will be a squeeze now which means the D4E might push the price down enough for me to jump back in.

I’m with you in that I think the medium term range will be 10-20p, so if I can get in at c5p during the initial carnage I think I can make my money back. Pretty desperate hope tbh but let’s see…..

The forbearance agreement runs out this Friday.

Is this the one? If they kick the can down the road into December it effectively means January before anything happens.

Surely bond holders and banks must be getting fed up with this inertia?

Still no sign of the court date for the supposed restructuring proposal.

Any bets on whether we’ll have any news this week?

A new contract in Bahrain announced. Must be small beer though as the SP hasn’t moved in 15 mins on the news. Not clear from the RNS what the value is other than “millions”

Thanks for the tip Ames. Looks like huge day there. I hope you got some of the 30% spike 👍

F***ing hell, I’m turning into snapper / Tony 😧

This was exactly the same logic used to convince people to buy into the last rights issue when things were much rosier than today (although it didn’t feel like it at the time).

That RI was a disaster for anyone who took it up with all of us losing at least 15% by the time it was completed.

Locking into a price with this much volatility and uncertainty is very VERY bold move.

Every single LTH has already lost 40%+ of their holdings value in just the last 2 weeks.

This is not a share that thrives on hope or that rewards risk taking. It’s certainly not a company that cares about its LTH’s

Calculating it based on clearing the relevant debt, I make it about 4-5p, but that doesn’t take into account any offset from disposals or improved cash flow which could nudge it up to circa 6p. Sadly there wasn’t much hint of either adding much value to the mix within the half year report.

Sadly DC, Tony is actually sitting in his front room staring blankly at his laptop in his underpants sporting 3 days of stubble. He alternates between shuffling to the fridge for another special brew and posting on this forum, with which he is obsessed for some reason.

He’s about as likely to visit Murano as I am to make my money back on Petrofac……

…….and the market literally couldn’t care less. Not even a blip!

New contract in Africa announced….. interesting!!

Good luck to you SJ1313. There’s no ill will from me towards any LTH’s still in the race. You’ve got balls of absolute steel! 🫡

I don’t think they’re going to rocket after dilution SJ1313. I think we’re talking about a slow build as confidence returns and new contracts are awarded post restructure. Remember there are going to be a bucket load more shares in circulation as well, along with D4E stakeholders looking to offload equity as soon as there is a profit.

Shorts haven’t bought back of any more since the 30th so I think they’re holding fire for now as well.

The SP is drifting south again as we’ve all seen many times before.

At least Tony is happy driving around in his pretend Ferrari (there’s a Simpsons joke in there somewhere)…..

That’s a good point about a possible suspension. It would make the rights issue even more difficult though. You’d have to mad to sign up for that IMO with all the potential volatility…unless it’s heavily incentivised. Which I can’t see happening.

As you say, the open market after the dust settles will be the true indicator of future fortunes.

Hi Apothecary

If they make it through this crisis I’m definitely back in, but only once the dilution has happened. Anyone holding now is pretty much guaranteed to lose half their money (best case scenario), so I just don't get staying in.

I was holding £200k worth of shares and sold for a £120k loss at 22-23p earlier in the year after the first RNS where dilution was specifically mentioned.

I think I can make that money back by getting back in just after the D4E and rights issue which I think will initially see a further dip.

All it will take is the rumoured £1bn new deals to be announced and I can see and easy double up from that low base.

Might be dreaming, but it still feels good to be out right now with all the madness and uncertainty!

I’m actually surprised that the SP held up as well as it did this week. Especially as the short buybacks seem to have slowed right down from earlier in the week.

Looking at the last RNS I guess that there’s another week to go before more details are released about the restructuring plan & most importantly, the D4E proposal along with the rights issue.

The previous all time low was just over 8p. It doesn’t feel like we’ll hit that pre announcement.

Still planning to buy back in when all the cards are on the table and the dilution impact becomes clear.

The going concern section is grim reading though. Especially the section acknowledging that they are missing out on securing new business due to the cash flow squeeze. One of my biggest worries is that the pipeline is drying up for them in 2024, despite the £59+bn of upcoming tenders.

In the bright side, Astaris must be absolutely kicking themselves that they dumped their short holding and bought back at 18-22p over the last couple of weeks !!