focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
So what? Did you trade out like and a hero and are back?
Good post PC.
Run up to Christmas. Uk woes. Cost of living etc. Over mortgaged oilers selling into the drop to free up some cash. Few trying to catch the falling knife and the few that do are having a few fingers removed.
Which board is that dogger?
Another savage drop to open today!
https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26
Still steering clear but not due to Snapper et al.
Risks are there. Transparency lacking. Hard to be transparent when you are surrounded by crooks of course. But the world has shifted of late.
Little England realising its mistakes. Old retired (hard working) oilers drawing down pensions. London milking their cash cows to death, while making turd sandwiches while the sun shone...rather than hay.
Will PFC survive or have they been left out to dry? I fear recent drops in share and bond could be major bondholders and shareholder scraping it out over losses. Who takes the loss as all of the above comes to roost and people sell up in a cost of living crisis causing liquidity issues. Mega rich bonds, which underpin a lot, or us plebs buying shares without the golden handshakes.
GLA. Struggling over at WG myself but thankfully nkt end of the world as I played it (probably too) cautious.
Crikey guys. How much do you know about the golden drip of Pee?
Laggan Tornmore. A large gas plant in Shetland for Total that this lot didn't do to well on. A shambles in fact from what I hear from some people closer to it than I.
And there we have it! New lows
Well, if an RI does drop, there's a hell of a stink of insider trading with a 50% drop prior to a public announcement.
My guess is it's something along those lines or manipulation to get a contract owner into the fold at a nice low price prior to announcement. Also not a good look!
Will probably be a new all time low!
your guess as good as mine. place your bets. i've got the popcorn out and will feel good for the winners and sorry for any who lose out. especially those innocents who worked a ****load during the good years, buying shares, paying into fubds only to find they've been schemed and are left with nothing!
Of course. It could all be smoke and mirrors. Dupe the weak, while, as I say, some fund or other loads up all along the drop (high volumes). The cynic in me says being bought by funds with cash that will end up with the company awarding the contract. From experience, these bids typically ask for ownership details. Is that so they can check it ends up where they want it? Or to avoid fraud?
Snapper and Tony are gloating. Not paid derampers. They did point these issues out a while back and they are coming home to roost with avengence.
My guess is that SFO, COVID,war and uk economy all swirling this round the toilet. Interest rates higher for longer will hurt PFC and their debt burden when it comes to renewing.
Cashflow is king and no no news on that and the risks outlined. So...speculation!
If anything, ME situation and other global issues could be the nail. A shame. Billions in debt wracked up while they should have been making hay....if they go bust, much of their debt will be written off, harming averge joe retail pleb like us.....they should be forced to work it off rather than offload and walk to their new ventures! Even if that is under new ownership and leadership as clearly this lot have issues at many levels of the org. I saw a bit of it while there. Was never happy and ran thankfully
Poker, if it is this you mean, I am struggling to find a link which states it but Asfari started this company and from memory put his Petrofac shares up as collatoral for the loans. Worried me at the time.
Goolg Venterra
Are you proposing Dundee take over Rangers? I'd be game for that! Sorry, Scottish football joke that I'm guessing will be lost on a few.
Asfari probably doesn't care. His shares were used to guarentee a loan on a new venture in offshore wind were they not?
Anyone know the name of the company Asfari started? Where was it based and any idea how it is getting on? From memory, he used a chunk of his shares as collateral for the loans I think?
I wouldn't argue Poker. Just risk averse at the moment considering global news flow. Cashflow is the key...but no visibility or comms on that. Could be good news...if it turns out to be bad...the question will be how bad.
I think before my rebadge, my tune already changed. I've dipped my toes in three times here. Exited with a lucky overnight departure, then spent months sitting on a loss. Got out on a blip again for a small profit. Last time, was around WG merger news. I sold up and put some in here....but that's when I properly started to worry and actually sold for a loss. Should have waited a few weeks and I'd still habe that.
Anyway, WG have not done well and overall I sit in the red over there for the time being. Although it also doing nicely today.
If you look way way back on my old account, you'll see I was sympathetic to snapper from the start. Following SFO, I was optimistic and tried to see the rosey side, but I was just being naive looking back. Still am when it comes to the dark arts of the markets.
I just say it as I see it. For good or bad.
I feel like snapper smells blood. Might FINALLY get what he dreams of...maybe!
Interesting to note that the bonds haven't enjoyed the same rise over last few days sell just went through at a new 6 monthly low. Reqlise there are issues in the bond market right now, but could point towqrds a punp n dump. Or as I said yesterday, dragged down to let someine get onboard....or the ME war might just be the straw of course!
I did notice James Bond needed paying around this time. Did they deliver last year after the drop? Did James deserve his scrappings from his clipped ticket. Did he add value? Do we? Lol