Member Info for RealitBites

Ignore this one. Especially any real investors like me who don't play short term games. To me, he just sounds like a gambling addict that jumps in and out at the casino and generally doesn't have a clue about the actual value of things. For a laugh, I thought I'd read through some of his other posts. He's all over the shop. HBR, amazingly sure it would hit 420, sold well below that and then bought in near a peak after which it dropped and he had to hold for months to get his cash back. The only reason guys like this make money is because the market is so volatile and eventually peaks or troughs above/below their buy in price and in general, the markets grow. He hasn't worked out that buying a good stock like PFC at cheap prices and just holding would in fact make him more than his daft games. If it ever gets to his number of 120-130, I'll be all in that's for sure! At that price it could see a 4x-5x gain over a couple of years and a huge payback. But sure y11 would sell out again too early like his posts show he has done on many other stocks. Best advice, ignore everyones advice on here, DYOR and invest wisely in good stocks with a future. Remembering of course to only invest what you can afford to lose as at the end of the day, nobody knows what is around the corner. COVID being a great example!!!! Guessing many lost a boatload in good companies due to that!

As for the after hours trades. I've no idea. I'm not trained and not bothered enough to look at the ins and outs. I always suspected they were made through the day and logged late. I guessed due to the size and something to do with clearing funds, but that could be garbage. I do remember reading something about guys not finalising so they could cancel if it looked like a bad deal, but doubt that could happen so much as we see.

I also feel the increase in volume on Friday and sharp rise at the end of the day is because the 150 (psychological) barrier was broken and others like me had that in their head as a price to buy into this stock. If the case, sure some are looking for such indicators and realised it was going to turn so bought in. Either that or people expecting a rise on the results and that being almost a sure thing for next week, whether Monday or not remains to be seen.

Time will tell. Good luck all serious investors!

I've been thinking about that point Maverick and it is very possible, even more so if share price stays depressed after some awards.
But in my head, that'd be a shame as it would limit my upside somewhat. As a standalone entity, this could multiply in a few years, whereas a buyout would probably result in a relatively modest boost in comparison, albeit given many a chance to cash in quick.

Given the statements about liquidity, I doubt that very much.

Gross liquidity of US$0.9 billion as at 24 June 2021 consisted of US$0.65 billion of gross cash and US$0.24 billion of undrawn committed facilities. Also looking for US$250 million costs savings ( gross cash cost savings) relative to pre-pandemic levels.

The company has a lot of contract workers which they can flex to demand. They are unlikely to have drawn down such large reserves, so unless it is required directly to fund a whopper of a project, then I doubt they need it. And if it is needed, it is for a big job which would be a big positive. Suspect they'd get financing for money for a project at relatively competitive rates.

Snap Mary, although I didn't buy as many as I will if it continues to drop.

Spanner10
That is the email I receive from them, word for word, dated 15th October, well after the press release.
"Investigating individuals" .

You have one agenda as you hate Petrofac, admit it! You just want them to fail.
I ask again, did they bin you?

I used to be like you as I didn't enjoy my time there and wasn't myself performing. Doubt they'd have kept me on had I not found a job in a sector I was more passionate about. But that was my issue, not the companies! All EPC/O&M companies were going through tough times due to the oil price dropping and belt tightening that year. I didn't want to be in oil and had only returned for the money in lieu of anything else.

So I emailed the SFO.... this was their response Snapper10.

"The SFO has concluded its proceedings against the company, Petrofac Limited, and also Mr Lufkin. At present, the investigation into the conduct of [other] individuals continues."

Other individuals! Not Petrofac, proceedings against it have concluded. Get it? If they go after anyone else, it will be an individual and in my opinion it is highly unlikely that this welcome back to the company again.

I get that you hate the company, did they sack you after your stint complaining about, I mean working on the Shetland job?

Almost back down to he price where I will top up ........ if it gets there.
The recent up and down is just traders doing what they do. Jumping in and out and hoping for a quick buck, most having no clue about the company or industry and following trends and key indicators. I always said this was a medium to long term play but I'll be grabbing more shares if it continues to slide as the upside potential is huge at these prices.
Oil price and new wells will have little impact. Next hurdle the results and then the big jumps, as had been said by many, will happen once the work starts flowing again. That'll happen eventually for sure, the country (world even) is short of experienced engineers, the oil sector still needs the services this company provides and if you look at the Uk market, there are only a few out there capable (as evidenced by the Wood/AMEC buyout being blocked here on monopoly grounds).
They do seem to scrambling a little in the hydrogen space and announcements are just fluff so far. Trying to show they have hydrogen experience when they have none really. But they are moving in the right directions in terms of energy transition with a big push on this and wind.
A shame the St Fergus job was shelved again as they would have been well placed for that one. Similarly, there may be a few conceptual and early scopes out soon for other similar facilities due to government funding.
Agree they need to rebrand and wonder if they should even be trying to come up with their own concepts and projects in the energy transition space, rather than wait for others to do that and try to win service contracts.
Either way, I just see this most recent drop as a chance to get in or increase holding at a relatively bargain price again.
Hopefully some of this is due to people speculating on the results and they get burned by the rush back in when things are not as bad as they feared.

Fair point, but the UT trade more likely to be many buyers. Granted, the other may also be but it went through a single buyer

Wish I had £840k to blow on one trade! That's a decent order after close on Friday.
There seemed to be quite a lot of resistance at 170 this week and someone else obviously thinks 168 is a steal with that size of buy. A cynic might even think it was a mate of the author of that crap IC article last week.
The more I learn about the LSE and how it works, the more cynical I seem to be becoming!

Fingers crossed for a rosier week next week after this weeks plateau.
I was half expecting this while waiting for the results and hopefully it won' be too long before a few big contract wins start to grow the backlog again.

FT giving this a sell rating today on the fact Asfari is still knocking about and the general fact they admitted guilt.
Must admit, I'd sleep better if he sold up and stepped down.

So go on isas, enlighten us. What in the trading patterns suggests that?

Hard to say what Capeviews average is as they've been up and down with their percentage short. But some of that goes back to 2015 when they first declared. The price was in the 800-900 range back then, while some taken this year in the sub 120s.
Rye bay must be thinking about closing though as theirs is mostly taken this year.

That wouldn't bother me too much if I was investing long term as I do generally. Especially as it goes into UK coffers. It presumably deters some of the really short term trading that I don't particularly like ...... says the guy who just bought and sold within 12hours! But in my defence, that was for other reasons, but will I did get back in at less than I sold at on that occasion and can see why some play the game that way.

Spent time working at both. Quite a while at Woods so my pension already linked to them in a way. I don't tend to p00p where I eat, so haven't invested there. Woods have a wider range of services also. Not sure if they've still got their gas turbines division. Lost touch a little after the merger with AMEC but they were also into nuclear and renewables through another acquisition of Sgurr. They just took a pretty chunky loan from the government as well, so would be wary of them at the mo. Been meaning to look into it though.

I do feel Wood is also undervalued at the mo incidentally, but carrying a lot of debt last time I checked.

Careful of comparing just the share price Paddy. Totally different size of company and numbers of shares on issue.

Eyes roll again. Build back better. Slogans! But yeah, cost reductions welcome as it will help secure more work, certainly in Aberdeen where work was going further afield in past due to the rates being uncompetitive. Not just a Petrofac issue and there has been a big correction since 2015. But they may need to cut a bit deeper than 10% to compete in the renewables sector I suspect.
Indeed hard to value without knowing specifics but always worth being careful and not doing too much work for nothing in the hope of future contracts.

Paddy, I know. I agree with all those points and I have been saying for a while this is a mid to long termer. I wouldn't have bought in otherwise. Just venting I guess. My eyes rolled a little when I read it and wish it hadn't been the first one they'd put out.

Great, but not a contract for paid work as far as I can tell from the RMS. Those are what's required to boost the price. I bought back in but this isn't filling me with confidence. Getting in bed with those well known 'squeaky clean' russians.

Would a non-exec director be classed as an employee? If so, we're in the clear here. That's my take on this long debate.
The guardian report goes on about "those who profited most", so that would be employees (now gone unless something new is uncovered...after 4years! Doubtful!), agents and those who took the bribes (which wouldn't impact on Petrofac unless they decided to point finger back at a current employee, which I also doubt) or major shareholders (which they'd go after separately unless they were employees, hence my initial question and thinking of one in particular there).
Certainly making the right noises and sounding like this is it over and done with. from a share price perspective.