Member Info for Redheadedrager

@Itsaponzi - really?

Another one for 🗑️

@BearHunter - shorts increased but SP went UP?

Hmmmmm . . . Does a bear shat himself in the woods?

P119 🗑️

. . . it’s obvious

Dragging the bid down to fill their buy orders placed (often off book) with MMs . . .

Once filled and the shorts are free and clear - MMs drag the price back up in order to fill their other orders . . .

That’s why you can observe the pretty heavy seesawing in the prices and will go into auction for a while several times a day as the huge volumes required to clear shorts positions floods the MMs books and they can’t manage an orderly trade book . . .

. . . blocked him so can’t see, but judging by the number of green “. . . adjust your filters” messages on the board, I think that him and Terrified Terry are working overtime at the moment . . .

. . . how many tens of millions of shares do they have to buy back?

🍿 😎 🎥

. . . when the trading platforms come back up . . .

Remain very happy I held on Friday despite bemoaning my position.

Here’s to a continuation of this recovery.

No reason why trend reversal shouldn’t continue . . .

Cue Snapper and Terry and the rest of the cabal kicking off 😂🤣

Https://x.com/petrofacgroup/status/1731651832861127136?s=46&t=How4VQ36cX4P8xSZe6fA6g

. . . or first thing this morning and that drag down . . .

Here’s to a long term recovery.

Selling non-core assets is a great plan. Lovely to see shareholders placed at the front of the list in the RNS ahead of bond holders and creditors . . .

Hopefully we will gain more over the next few days 👍

Trading View is a serious website. They won’t be pasting fake articles. Not with the Reuters symbol plastered all over it. It’s on the wires, so blood will be on the carpet on Monday am. Why, oh why didn’t I sell on Friday. . .

Petrofac sinks to record low; analysts flag balance sheet concerns

Dec 1, 202311:54 GMT

PFC

−19.38%

** London-listed oilfield services provider Petrofac's

PFC

shares dive as much as ~24% to 16p - a record low

** Analysts, including at Berenberg and J.P.Morgan, are flagging balance sheet concerns

** Berenberg says PFC in "a precarious position", places it "under review", removing its rating and price target

** Berenberg says either liquidity improves and Petrofac delivers on its backlog or negotiations with lenders required, leaving equity holders potentially taking significant haircut

** J.P.Morgan says co struggling to source advance payment, performance guarantees from banks for its E&C contracts

** JPM says banks have to be comfortable with contractor's balance sheet before issuing the guarantee and that this appears to be an obstacle for PFC

** PFC's combined credit score - which measures how likely a company is to default in the next year on a scale of 100 (very unlikely) to 1 (highly likely) - was 1, LSEG data showed

** Shares have lost ~75% of their value so far this year

. . . question is, do I crystallise that loss or stick to my guns

Certainly NOT adding more now.

The BoD are either incompetent or too arrogant to care about PIs (or even IIs)

What an f’in shower of sh*t

. . . it’s not too difficult

A stunning lack of imagination displayed so far and poor pay-on-words-ability too 🤣😂🤣😂

Distillates of Petrofac

- Petrofacall

- Petrofacked

- Petrofraud

- Petrofellons

The list goes on . . .

Good. Now I have your attention.

Please desist from spamming the board with your “humourous” derivations of Petrofac.

What department (dept) are you going on about Fr. blah, blah. Hacket?

Or are you talking about debt?

A lack of basic grasp of English makes me doubt your intelligence and certainly your financial acumen . . .

Binned 🗑️

No holding position notifications

No RNS from mgt re funding, d4e, or capital raise through rights issue. Which they are bound by listing rules to do so if they are in process.

No papers from shorts outlining their rationale for the short positions they are holding. Which is normal if they believe that the company is no longer a going concern.

Currently the company is in a closed period. Effectively a news black out unless something is fundamentally wrong and it’s no longer a going concern - per points above.

PFC issuing £600m contracts to sub-contractors.

Fitch recently upgraded debt (9.75% bonds maturing Oct 2026)to BB

Bonds (debt) starting to pick up.

This is an extremely interesting situation and would make for an excellent case study when all is resolved. Well it would be if I wasn’t so heavily invested - been averaging down, have a little left in reserve still . . .

For me, this is a binary outcome now.

Holding firm.

GLA LTH 👍

Darren, from reading your posting history it is extremely obvious that you’re a shorter and in reality you’ve just opened a short position on PFC. Now you’re adding your voice to the doom mongers and naysayers to grift your sweaty ££££ . . .

Quite a simple web form to complete on their website. I have already reported what I believe to be market manipulation at best insider dealing at worst.

This is shocking manipulation IMO.

If enough of us report this abuse, the FCA may take a look.

But like many other ‘regulators’ it may amount to negligible outcome. At best, an after the fact rap on the knuckles for a hedge fund, leaving PIs stranded . . .

Esecallum - your post from 28 April was spot on . . . not . .

“ The 20 to 1 rights issue on Tuesday morning means the price will be 0.70/20=3.5 pence plus depradation of confidence = 2p !”

Another nitwit binned

🗑️