Member Info for SEA7

21 Jun 2021
Petrofac Ltd.

Southwark Crown Court
R v Lufkin
Directions hearing

https://www.echoroukonline.com/chakib-khelil-received-bribes-in-exchange-for-the-emirati-petrofac-deal/

dated 30th Jan 2021

The judicial expertise in the file of the UAE company “Petrofac”, which the investigating advisor referred to the Supreme Court under the number “0007/20”, to the financial and economic pole, revealed that the deal obtained by “Petrofac”, related to the project to complete the liquefied natural gas station in the industrial zone of Arzew in Oran province (western Algeria), estimated at $4 billion, or more than $7000 billion, as it was suspicious and was carried out in violation of the law on public procurement, and that the company gave a bribe of billions of dinars to Chakib Khelil, who used his influence and pressurized the former president and general manager of Sonatrach Mohamed Meziane to sign the deal.

https://www.energyvoice.com/oilandgas/north-sea/300439/3t-energy-group-buy-petrofac-uk-training-centres/

A total of 104 Petrofac employees will transfer to 3t, which is funded by Blue Water Energy.

The acquisition, which should go through in the next two months, is not expected to result in any redundancies.

On completion, 3t will provide Petrofac with in-person training.

3t would not disclose the transaction value, but said the services it is acquiring can generate revenues of around £10 million per year.

https://www.privateequitywire.co.uk/2021/02/19/296120/pe-backed-3t-energy-group-buy-petrofacs-uk-person-training-business

3t Energy Group has exchanged contracts with Petrofac on a major transformational acquisition for the purchase of its UK training centres. The purchase includes Petrofac’s Survival and Marine, Health and Safety, Fire, and Major Emergency Management capability and facilities in Scotland. The value of the acquisition is undisclosed.

yep bladey - i reckon they saw the stock stalling at 1.33 and moved to up their short and then added to the pressure on a day where PFC saw much lower volumes in a down day across the board.

whats the betting that those shares they borrowed and sold short were dumped onto the market yesterday.

i notice they moved up to 0.86% as of the 17th Feb, from 0.77%

no problem nfw !

https://www.theguardian.com/law/2021/feb/17/sfo-unfairly-sacked-prosecutor-after-doj-sabotage-tribunal-finds

Tom Martin, who prosecuted large-scale corruption, was dismissed by the UK agency in 2018 after it was alleged that he called an FBI agent “a c**t” during a trip to a pub in London.

nfw

a wall of selling from holders of placing stock obtained at 3p a share in the recent fundraising.

176 million shares issued

the shareholder list pre 31st december, is about 50 million shares less than it is today. With a couple of other holders identified, we probably had about 80 million shares that were unaccounted for.

These will have been placed with clients of mirabaud whose sole purpose in life is to take these shares, pay for them and then unload them into the market at their leisure. Which they have been doing slowly throughout the last six weeks.

the buying that has taken place off the back of these rns's which would normally have seen these at least at 5p or 6p was satisfied by the wall of selling - we need that to clear completely.

https://agenda.ge/en/news/2020/3326

The government of Georgia started a three-year gasification plan in 2019, within which 384 villages will [receive access to natural gas]. Of course this is not enough and the government has made the decision to continue the gasification plan with a new governmental programme as a result of which another 211 families will receive natural gas in 2021-2024. This means that 90 per cent of the Georgian population will have access to natural gas", Gakharia said.

and

Georgia to increase price of natural gas for commercial consumption starting January
https://agenda.ge/en/news/2020/3778

The company named the recent fluctuation of the national currency as the reason behind the price as it buys natural gas in US dollars but provides it to consumers at a fixed price in GEL.

see we are treading water today

bago do supply a fair bit of georgias gas, but quite small in comparison to the main players

thanks Nicodemus

been looking for his comment...

The company are calling this a ‘major milestone’ something I can’t disagree with as it starts to provide energy to Georgia. Somewhat unusually the gas goes for compression and fuel mainly for motor vehicles which should be a long term steady market.

Shareholders have been holding the board’s feet to the fire in recent months as it was most definitely needed but is now being rewarded. Whilst I would continue to urge close monitoring it cannot be doubted that this success is fully deserved.

delayed ..nothing else heard so far.

yep I am sure it is fuse

when we saw over 30m traded in a day after WR16 back in 2019, that was on april 17th with the closing mid at 10.25 ..... 19 days later the stock had climbed to its all time high of 17p, with a volume day of 10m shares.

over 30 million shares traded today

i think this is only the third time that volume has exceeded 30 m

first was around the time west rustavi was stated at 1100 bpd april ..just over 35 million shares traded - april 2019
second was around the time the lockdowns began - just over 30 million again - april 2020

another 3.16m shares printed at 3.54p - good to see these later reported trades are on the buy side

1.81m shares bought in the after hours session at 3.6p

errazel

payment terms are the 27th day of each month if i recall.