Member Info for shamI89

Now we know why shareprice kept on falling and I suspect big boys knew about this throughout

Mug punters have been taken to cleaners.Tom Winnifirith was right throughout, these assets are worthless.

Has lost more than 90% of total value since BOD entered this "death spiral funding" , lower the price is more shares they have to dump to drive the price even lower.

They have been bang on money and share price has lost 80% of value since that "death spiral financing".

In background it has lost more than 50% in a month.

Funny thing is this company cant produce anything to "preeerve cash" and cant sell whatever it has produced either.But mug punters thing someone will pay billions for these assets.

These assets were acquired for few millions if I am not wrong .So why would someone pay billions for assets which were bought for peanuts?

Funny thing is this company had "interested parties" in 2019 and four years later them "interested parties" are still there but have not made an "offer".

Company will run out of cash soon, it is not producing anything and has produce which cant be sold and facing lawsuit.But some people are hopefull

I am surprised to see this fraud went on for three years, company paid a few millions for this assets and someone was willing to pay "billions" for this and not surprisingly that "bid" faiked to materialize.

In my opinion price of oil and gas tends to go up in time of uncertainty.In my opinion not all contracts petrofac has been getting were profitable but the way it has going is you win a profitable contract and that will cancel out any losses. Great if you can keep on getting new business but you are in deep trouble if you don't get new contracts fast enough and I think that is what has happened here. As far as shorters are concerned I do think they have spotted a weakness and have decided to exploit it.Bondholders are on top of priority list and when they are willing to take 50% loss that you should know that they have given up on the hope of getting their money back.

On top of that shorters tend to be highly knowledgeable and skilled professionals who open a short when they see a weakness. If they short the wrong company then they are stuffed.

How many times do I have to tell you that war but Israel and Hamas had nothing to do with petrofac share price. Opposite is true as if war escalates price of oil goes up and that bodes well for petrofac as sector has more money to spend and that means more business. I suspect after bribery and sfo faisco company failed to gain the business the way it used to. That has impacted cash flow as you can't incur these sort of losses in an year.

How is it looking Neil, did tell you that you have chosen wrong stock to "p&d" it is not of your usual illuquid microcaps.

They should have clarified if rights issue is not being considered.Shorts have gone up and bonds are trading at 50% and that indicates that market thinks equity is toast.

Equity wipeout in the form of rights issue.Having said that a lot of private investors failed to understand that and took speculative punts.

Private investors have been taken to cleaners by big buys.Always follow the money.

Hahaha Neil yes I remember ITS and think it is suspended but heyho there are lots of others too. You can bs your way out of them sort of stocks which get delisted eventually but you have chosen wrong stock to "p&d" as it is not tiny microcap "cash shell" which you can influence with your few hundred quids worth of buys. There has to be a reason and bod has not commented on it. In my opinion company has breached convenants

I have seen it with couple of other shares Horizonte minerals being one of them where share price kept on falling and retail investors came up with similar thoughts. In these sort of situations market always tend to be right. All you have to do it just follow the money and share price has lost 50% in a month and it can be "shorters" who are driving the price down. Another think to look at is bonds as bondholders tend to be really shrewd and long-term investors when they are willing to take 50% cut on their bonds then rest assured that they have a valid reason.

Price of oil has benefited from situation in middle east and that should have boded well for petrofac. Market knows something that we don't as don't private investors have these sort of shares. Not long to find out but my guess is that balance sheet needs strengthening and bondholders could be pushing bod for it.