Member Info for SEA7

wonder how many had placed stop losses, which makes the trade visible and this provided the opportunity for them to purposely hit those stops. Back up to nearly blue again already.

you have all the 10% traders that bought between 102 and 110 exiting around now, with new players taking up positions.

gotta work through the churn.

it has gone through 120 twice today - it wants to push on through ...140 on the chart looks like the next resistance level

https://www.offshore-energy.biz/petrofac-hires-stena-rig-for-uk-operations/

Offshore drilling contractor Stena Drilling has signed a new drilling contract with Petrofac for operations in the UK.

Stena Drilling said on Monday it had signed a new contract for drilling operations with Petrofac using the Stena Don rig.

The rig owner said that operations are due to start between 1 July 2021 and 31 July 2021, for the drilling of one firm well.
............

PFC are clearly expecting to move on from SFO and seem unconcerned.

https://www.energyvoice.com/oilandgas/middle-east/pipelines-middle-east/289813/petrofac-snoc-gas-storage/

Sharjah National Oil Corp. (SNOC) has launched its new gas storage project, constructed by Petrofac.

First gas reached the plant on January 1, SNOC said, marking the start of a “new era” for the company. The Sharjah-based operator said the gas storage marked a new area of business. SNOC expects the project will balance gas supply and demand in the state, providing flexibility for power generation.

Petrofac acknowledged the completion of work. The service company said it had completed the project “on time and on budget”.

https://www.energyvoice.com/oilandgas/north-sea/287155/petrofac-digital-tools/

excerpts

The quest started about two years ago and has yielded two products which formed the core of Petrofac’s successful bid for the business innovation, large enterprise, prize at the OGUK awards, fending off stern competition from Total, among others.

and

After weighing up its options, Petrofac, aided by its technology partners, set about bringing the Petrolytics and Connected Worker tools to the fore.

and

On one North Sea installation, Petrolytics flagged up an issue with a seal.

Without Petrolytics, the seal would have failed, tripping the platform and leading to production losses of around 16,000 barrels of oil equivalent per day and a financial impact of £540,000.

In another instance it was used to avert downtime which would have cost £1.12 million by identifying gear box vibration in a compressor train.

The early insights helped the asset team manage turbine speed, coordinate the supply of support and equipment from the vendor and mitigate an outage.

For its part, Connected Worker has driven a 200% increase in productivity compared to traditional industry approaches across more than 1,500 North Sea inspections.

so far so good Edwina - moving up

for the record, cannot say I ever view their site to be fair.

https://simplywall.st/stocks/gb/energy/lse-pfc/petrofac-shares/news/have-insiders-been-buying-petrofac-limited-lonpfc-shares

Primarily the update to the SFO matter. There are those trading and buying that probably didn't even bother finding out about this and have been dumping it. Nothing move a stock southwards faster than any contact from any authoratitive body, especially ones that can send people to court/jail and impose fines.

longfell - if you wait until then, it is highly likely that the buy in price will be much higher. the price is lower due to shorters and perceived additional uncertainty now. We are buying now to take advantage of that uncertainty by scaling in, as it drops.

the bulk of buying interest is on the sidelines until they get confirmation of an uptrend, as per the usual, standard mantra trotted out everywhere. - it is only us lot who buy in during these times. We have the liquidity to support a position down to the bottom, through the turn and back up again.

PFC is one of only four stocks at the 52 week low today, whereas 65 have hit 52 week highs.

The RSI is showing 30 on the chart. Looking back to July 2018, every time it hit 30, it reversed and always went up to 70. Three occasions of going below 30 and once up to 80.

Reversal is more likely now based on the historical charts

https://www.fca.org.uk/publication/data/short-positions-daily-update.xlsx

for those of us who do not speak german - lol

FCA tracker shows 22/1 and does have same for rye bay

poker ..that seems about right

$150 m in in illegal profits ...which they forfeit.
then there is a financial penalty on top, as well as the SFO costs - the financial penalty quite often exceeds the forfeit illegal profits

for one minute between 1534 and 1535 the buy price was 101.9...some trades are there at 101.89

iron ..it is worth remembering that shorters can borrow stock from brokers for a fee/interest, where the stock is held in a nominee account - in other words every single retail investors holdings. You might be the beneficial owner of the stock, but the legal owner is the nominee account holder, as all stock held is in their name, unless you have your own crest account.

you won't know if they have lent your stock out..........most trading on margin accounts have it stated in the contracts that they may lend out your stock.

friday - do not forget all those that are short who do not have to disclose - they are likely to be closing today - do not want to risk getting caught in a monday morning full on short squeeze

and were off!!

the periods covered are between 2012 and 2015 and more in 2018. All profits from work related to alleged offences will be taken into consideration over these five years and then a financial penalty on top, that is roughly the same amount again.