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Going all the way back to 70p, Petrofac to be profitable in 2024 and repay all their debt

Huge volume coming in now, one of the shorters is definitely wanting out today

Huge buying pressure today, could be news tomorrow 35p hit

Petrofac going to 40p, base supported and confirmed at 30p plus

Petrofac should be a big winner today, shorters will be reassessing their positions big time and will be getting out

Markets very strong on the back of the US, expect strong buying and more shorters trying to exit it will be interesting if Marshall Wace have further reduced

Great*

Get for Petrofac especially in future investment in oil

* Petrofac : Peel Hunt reinstates coverage with hold rating; price target 40p

I suspect a RNS will be released once this has been solved and then up another 50%

Performance guarantee secured for the first contract awarded under the Framework Agreement with TenneT. Performance guarantee terms agreed for the first ADNOC Habshan contract – expected to be issued by year end.

Https://www.xm.com/research/markets/allNews/reuters/axa-hsbc-petrofac-53725446

I believe there will be a flurry of buying towards close today

This is being held down, I believe this will be break 35p

It will come this is just adjusting and will continue higher

With over £100m in losses and one hedge fund buying back they know they are trouble and could be margin called. Such strong demand for the shares

Shorters going to be scrambling today, don’t sell cheap here dyor

Should definitely break 35p today let’s see

By my calculations Short are £100m down currently, this will continue to go higher today and will cause another to start buying back

Marshall Wace clearly wants out don’t be fooled by their games

Marshall Wace are the smartest shorter and realise this isn’t worth it and started buying back

Be interesting to see how much % the shorts closed yesterday 37p finish