Member Info for Slift

"Lincoln Plug and Abandon by July 2021."

Official data shows that PETROFAC are still listed as doing some works on Lincoln, though not approved.

PETROFAC FACILITIES MANAGEMENT LIMITED WIA/1027 Lincoln 205/26b 205/26b- 14
MoDU/Vessel Paul B. Loyd, Jnr Chemical Permit CP/2261/0 19th January 2021 1st April 2021 Submitted
PETROFAC FACILITIES MANAGEMENT LIMITED WIA/1027 Lincoln 205/26b 205/26b- 14
MoDU/Vessel Paul B. Loyd, Jnr Consent to Locate a Mobile Installation CL/1081/0 19th January 2021 1st April 2021 Submitted
PETROFAC FACILITIES MANAGEMENT LIMITED WIA/1027 Lincoln 205/26b 205/26b- 14
MoDU/Vessel Paul B. Loyd, Jnr Marine Licence ML/555/0 19th January 2021 1st April 2021 Submitted

This really is disappointing. But i'm sure there is a good reason for it.
Sometimes, better to be sure than to make a loss.

Having said that, Petrofac really needs a couple $1b+ orders in by HY21...
Good thing oil and gas CAPEX is slowly picking up.. now we just need to win some orders.

Agreed dannyred.

Outdated information.

Planty,

"Something must be happening with Lincoln in the background ... chaffe our finance wizard said 6 months ago and I quote “ we are making good progress with Spirit”"

Lincoln Plug and Abandon by July 2021.
Wonder what's really happening.. we'd know if the incompetent BOD actually communicated with the shareholders lol.

Better sell your properties to keep funding the dips then hahahaha

Another bad day for your portfolio of 30 stocks y11-shx?

4 if you don't include today.

Wonder if HUR will miss results/cpr targets

CHEATED...

As if they'd investigate public sector lol..
One rule of them, another for the private sector

So why are you gambling on 30 stocks then? :')

Okay, but don't gamble here.
Cba dealing with you here, maybe we can talk about real estate and properties on the HUR board?

Yo y11-shx,

Now that you know how much cash and debt HUR has..
How many barrels of reserves do they now have?

y11-shx

Hahaha, you're jokes.
Do you even read RNS' before you invest? or just gamble away?
Maybe if you read RNS' you'll know all about debt and cash balance!

"y11-shx
Posted in: HUR
Posts: 445
Price: 3.384
No Opinion
RE: CPR Delayed23 Mar 2021 15:30
Can somebody confirm how much debt hur actually has as it doesn’t seem very much."

"y11-shx
Posted in: HUR
Posts: 445
Price: 3.40
No Opinion
RE: It’s coming24 Mar 2021 11:08
Anyone like to guess how much cash we have in the bank? Last time I asked it upset a few people."

HeresHopinz,

Are you proud? :)

Paddy, I didn't say the awards will impact FY20 results.

But Petrofac will issue a Q1 update too, will they not?

"personally i see no reason for the numbers to be any worse than predicted in December 16th update."

If this was really the case for current trading numbers, we wouldn't have seen a drop in share price from ADNOC suspending awards...

Ofcourse there will be.
Further developments following David Lufkin's additional 3 charges.

I've accepted that there will likely be a fine when I invested here.
But I'd like PFCs balance sheet and finances to be strong for when that happens. If I'm wrong, then that's a double positive for my investment.

Better outlook and numbers please

The statement from Iskander?

The SFO matter is not in the hands of PFC. Any prosecution, charges, or even dropping the case etc. will be issued by SFO.
PFC cannot do anything about that and will not interfere. PFC interfered before in 2017 and SFO made aware that PFC was not co-operating. PFC will not make that mistake again.

However, the internal changes made by PFC satisfy ALL factors that will prevent this company from being prosecuted should there be any charges. DPA is the most likely result here.

But in the meantime, whilst SFO takes it's time, PFC really needs to focus on those numbers.

The armchair trader comments: "Given the detail in its December trading update, there shouldn’t be any nasty surprises in the April results either."

I've done some analysis, and whilst I agree with the comment that FY20 results won't have nasty surprises, I'm not too optimistic about current trading prospects and outlook for FY21. But, how much of it is priced in following ADNOC awards, I wonder?

My estimates for Petrofac's trading at YE20 (Dec 20):
Backlog: $5b
Net debt: Approx. $320m
Liquidity: Approx. $0.9 - 1.0b

My estimates for current trading prospects (March 21) - based on $500m order intake:
Backlog: $4.7b-4.8b
Net debt: $300-350m+
Liquidity: $1.2 - 1.3b

On a worse case scenario, net debt could be above $400m.
Petrofac really needs to start securing some big orders to offset ones that they have recently lost (ADNOC).
A $1b+ order between now and June would really help this company out in the first half of the year.

With oil prices now somewhat stabilised and outlook beginning to look positive (and with the help of Gov fossil fuel transformation incentives reported today), Petrofac will hopefully secure some orders in the next couple months.

LOL y11-shx,

You're simply a gambler as we have determined on the HUR board.
Please don't buy Petrofac shares as I'd rather not see you make gains here.

https://www.thearmchairtrader.com/petrofac-is-it-time-to-buy-into-this-battered-stock/