Member Info for Redheadedrager

Quite liking the slow but steady improvement in SP over the past week or so.

Check out the indicators on tradingview dot com

Very nice . . .

. . . think it may push on through this resistance point . . . 3 month future prices are on the march again north of $160 . . . October could be a very interesting month

Fitch Ratings - London - 27 Sep 2023: Fitch Ratings has revised Petrofac Limited's Outlook to Stable from Negative, while affirming its Issuer Default Rating (IDR) at 'B+'. Fitch has also affirmed the group's USD600 million senior secured notes rating at 'BB-' with a Recovery Rating of 'RR3'. A full list of rating actions is detailed below.

The Stable Outlook mainly reflects improved revenue visibility in Petrofac's engineering & construction (E&C) segment, supported by strong new orders in 1H23 and a healthy pipeline of prospects. However, the rating remains constrained by weak operating profitability and high leverage metrics for 2023-2024. We expect significant backlog growth to help gradually improve the group's weak operating profitability, which has been affected by low activity and ongoing completion of the legacy projects disrupted by the pandemic.

Rating strengths are Petrofac's improved business profile, expected neutral-to-positive free cash flows (FCF), sufficient liquidity and a long-dated debt maturity profile limiting short-term refinancing risk.

Looking promising . . .

We need contracts to be confirmed.

Also an update on status of historic contracts wouldn’t go amiss either. . .

We need assurance that the legacy contracts are bottomed out and that future contracts will be profitable.

Then and only then will proper cash backed profit be guaranteed and dividends back on the table.

Frustrated watching this company drift in the doldrums - it’s better than this.

Can anyone recommend a broker that deals with SA witholding tax properly?

. . . have you checked out 3 month coal contract prices . . . looking very, very tasty . . .

@SCB

Aren’t you still on holibobs old chap.

Suggest that you read the IEA coal report for 2023 as a little light entertainment

https://www.iea.org/news/global-coal-demand-set-to-remain-at-record-levels-in-2023#

You have to have a little re think, but don’t stress yourself too much, I know thinking can be quite demanding for you. As opposed to baselessly shouting about how the SP will fall off a cliff with no facts or justification.

640+ at the moment . . . Soon to be 800+ . . . ?

Newcastle coal futures went up to nearly $150 per tonne, the highest in almost three months driven by rising demand from China and an uptick in natural gas prices due to possible strikes at Australian LNG facilities. China's coal imports soared 67% yoy in July and are up 86% since the start of the year due to rising thermal power demand amid a shortage of hydropower generation. Nonetheless, it's worth noting that China's coal demand for the summer season appears to have reached its peak, as temperatures usually begin to decline from mid-August. Despite this, there is potential for increased demand from the industrial sector in the upcoming months, spurred by Beijing's commitment to implementing additional stimulus policies to support the economy. Meanwhile, China's average daily coal production declined to a nine-month low due to intensified safety inspections and temporary closures of coal mines following two fatal accidents in key coal hub Shanxi in July.

£9 share price is definitely achievable in the short - medium term (2-5 years), if not sooner with luck.

Once the full impact of the Australian production is factored in, and coal prices stabilise around the predicted $130-140 mark, we’ll be off and flying

Cheers

You really need to read IEA report on coal.

It’s not going anywhere. Irrespective of ones views on damage to the climate.

China, India and most of Asia rely almost exclusively on coal for energy production and are building additional coal fired power plants (with much more capacity planned)

So whilst you may wish for coal fired power production to disappear over night, it wont.

Divi stream is strong and long here.

Cheers

LOL - DK really hasn’t a clue.

Like a goldfish - you can tell him something and 3 seconds later he’s forgotten it.

Like “When’s the divi announcement?” “Read the RNS - on the 21st.” then 2 minutes later “When’s the divi announcement?” . . . an utter fool . . .

Just ignore him - it’s like dealing with a 3 year old.

The only all time low that’s going to be hit here @SouthCoastBather is the average IQ of the TGA discussion board - dragged down, kicking and screaming, by your negative contribution . . .

Funny how turds like scb float to the top when the pond is given a good stir by a 10% rise and the prospect of £1 - £1.25 dividend being announced in a few days time . . .

. . . why don’t you pipe down boy and wait for the divi announcement rather than washing this board with your constant bs tales of woe . .

Now stop bleating on about why you’re surprised it hasn’t been announced yet, you moron.

Or you could actually try reading the RNS?

Fool.

A LOT of weird trades going through - 7 x 1 trades, I mean WTAF?

I call the half year divi to be between £1 - £1.25 gross - before UK dividend and withholding tax is applied

The VIX for this share is off the chart. Wondering why. Is it being played?