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£600m to £900m is where we seem to be pitching it........spread over several years ....doable, but annoying nonetheless

priced for failure, doom and gloom.....shorters are handing you a gift right now

also - if you look at the open Rolls Royce deferred prosecution agreement as an example, the company agree to pay a fine equal to the profits made as a result of the alleged offences and then another fine, which is about the same, plus costs.

so they had to pay...

a. £119 million payable by 30 June 2017
b. £100 million payable by 31 January 2019
c. £130 million payable by 31 January 2020
d. £148, 252,645 by 31 January 2021.
...........

if this is anything to go by, then lufkin gets sentenced soon and PFC could face a fine equal to the profit made from the work secured as a result of the alleged bribery and a financial penalty on top ...Barclays recently suggested around $800m, however, this could be reduced..blah blah and deferred over several years. Assuming pfc put in good compliance programs, which they will have already done and pay up, then no further action will be taken...and guess what.... some staff will suddenly not be working at PFC, new staff taken on...matter consigned to history....share price much higher.

lufkin former exec is in court on feb 11th for sentencing. That finishes that bit off.

It may be the end of it there and then, however, the company may still get a fine if any lack of controls have been established.

it has been dragging on for years, the SFO conduct is not great and they may wish to draw a line under it, as they have plenty of other things going on.

scale in if your not short and add if it goes lower still, then sit back and wait. No whining and crying if it goes lower.

all part of the plan.... get as much negative news out there - drive everyone out of the stock ..trash the price as much as possible and then, as the real sell side dries up......close and close fast.......because you know what comes next.....that good news story, that positive news flow pushed out far and wide............all the players will have soaked up stock at the lows and will be looking to get that distribution phase underway and for that to happen..you need the stock moving up.

yep and long since forgotten about - there are those trading this that probably haven't even bothered noticing the ongoing SFO investigation and this is all new to them... these are some of your panicky sellers

Trial (Part Heard) - Resume - 10:07
Trial (Part Heard) - Case adjourned until 11:50 - 11:27

Details: Trial (Part Heard) - Resume - 10:07

paul bond up today...

https://www.thelawpages.com/court-hearings-lists/Southwark-Crown-Court.php

if it wasn't for the SFO spotlight showing up again announcing sentencing and further admissions of guilt by the same, former employee, PFC would be far higher and seen in the same light as others in the sector.

of course they do miles - they will reverse course sharply at some point and say not one word about it. The market will only find out 24 hours after they have been closing at speed.

once the stock demonstrates that it is genuinely reversing the previous course, then those on the sidelines will start to deploy capital

overall volume this morning is two million shares, which has produced a rise in the share price - buy side has it at the moment.

well said Edwina

adding to a short, by further shorting a falling knife is an ideal situation for the shorter as it gets further sell side pressure going.

the short squeeze should be intense.

Whilst PFC don't tend to announce every contract, the net shows plenty of examples of recently won contracts, which stretch out several years.

This SFO matter is overshadowing everything for now, as it is back in the spotlight again.

from august 2020

https://www.oedigital.com/news/480806-petrofac-socar-jv-win-bp-contract-in-azerbaijan

A joint venture between Petrofac and the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured a contract to provide BP Azerbaijan with international payroll and personnel support services including training services.

The five-year contract, worth around $100 million to the JV, will support the provision of international payroll and personnel support services, including support of company personnel attending training courses inside and outside of Azerbaijan.

ithaca still have confidence in the company's future - from september 2020

https://www.oedigital.com/news/481676-ithaca-energy-awards-petrofac-a-5-year-north-sea-services-contract

The North Sea-focused oil company Ithaca Energy has signed a 5-year Integrated Services Contract with oilfield services provider Petrofac.

get the sentencing out of the way and that is about it.

stock is being trashed everywhere - they want you out of this.

buy it at these lows, go long, strong, scale in and ride it back up.

thanks boyobach