Member Info for RealitBites

Their gripe is a large debt, high interest rates. Little assets and a shrinking backlog.
They have debt to reservice in October and have losses which is eating into their liquidity quickly.

And I am not short. I just stuck my hand out to catch the falling knife this morning and doubled my small position.

Brace for impact!
Will it hold?

It means you are down to last couple but no means a guarentee. They sometimes say someone is preffered to negotiqte another party down.
Ts&Cs can also be a minefield to negotiate and it could fall apart over something like a limit of liability or the likes.
Or maybe the golden drip hasn't worked out how to funnel the cash they are asking for.

Lol broker ratings.
Look at price history versus target history. Not so long ago this was going to be £6-£7. That went well!

What't the deal with the 15th Nov 2023 call date on the bonds?
What happens at that point?

Sorry, less familiar with bonds. Showing my ignorance lol

Loving the optimism and blind confidence.
Wish I still had some of that!

The vast majority of oil and gas projects go over budget and time. The OGA presented some numbers at Offshore Europe back in about 2016. I forget what the figure was but remember being shocked as it was the vast majority.

The trick in EPC is protecting yourself against this. Over the last few years, the squeeze has led to people bidding more lump sum and leaving themselves wide open to the losses.

I don't know if they have, but PFC needed to improve all their internal systems as they were extremely basic and often Excel spreadsheets for controlling costs, with nothing joined up. If you struggle to maintain visibility and track past costs, you will find it difficult to predict future ones!

That was also my assumption.
They want the results out in public as they know.
They just need other shareholders and potential buyers to also know.
Pretty sure Apollo already do but are hoping the board are desperate for a sale...which I am hoping they are not.

237 far too cheap.
No deal.
Hopefully results are solid and Apollo offer something more realistic. It certaily looks like they want a sale but petience required IMHO

Sleep well also.
Good response. It made me giggle.

A discount?! People are selling the bonds they got for half the price they paid?! Ffs! If no good news shortly, I'm also all out.

Just checked his comments. Doom monger indeed. But in market and debt loving areas of UK plc, there are too many that have survived on nothing but increasing their debt and milking, rather than farming the cows.

Perhaps also related to Apollo share price fall in last few days and I did note they were being touted as a potential buyer for bits of SVB. So may have less cash to splash on this deal.

Will never agree with that valuation and if agreed, the board will be selling a UK gem for a pittance.

I've topped up on todays weakness.

If no improved offer, I hope we say no, it then starts to drop but is supported by some good results.

Not seen any news today. Are we dropping on something budget related??

I get why you are frustrated and I feel for all those underwater here. I was like that for many months, sitting on a horrible loss and it really gets you.

I may sound negative sometimes, but I do think both sides should be heard on here as well. People can point out true things that I hadn't noticed or considered. And even though it is hard to hear, I'd rather know (so I can pull cash out if I get a chance) than live in blissfull ignorance and potentially lose a lot more.

I still have a few £k here and sit on a small loss. As it is previous profits, I am willing to give it a gamble but knowing how precarious things are right now.

I believe it really is do or die time. As their revenue shows, that backlog isn't long in duration terms and the wins have been modest. Someone quoted a biggie from ADNOC recently, but that is revenue spread over a few years and barely replaces what they are burning through.

They now need 2 or 3 biggies before I will be looking to put anything major back in.

This better not revisit 150! That would just prove how useless the market is at finding prices . Someone was willing to pay over 230. If it is turned down, it shows the major shareholders know this is worth and expect it to return more going forward.
So why would it suddenly be worth 150? It wouldn't. If it went there it would purely be down to the short termers and be a buying opportunity for us investors.

Markets are in a mess after that SVP thing on Firday. My guess is some selling as they requird cash to cover other things.
Hovering. Missed that drop near 210 but that was where I had a previous buy set. May put a little of what I took back in now :)

These swings may be great for traders. But they are garbage for investors and LTHs.

Agree bordersman. A company full of skilled people and tools. The multi discipline, highly skilled likes of which we should be seeking to have here. No idea what is going on behind the scenes these days but to be sold off at this point and price seems crazy.

* Not sure where a similar multiplier puts you but I think it is a lot higher as debt should be significantly reduced following asset sale money coming in.