Member Info for Sm66

Shorts increased again

Helikon and Astaris

Total now 9.45%

However, the share price is being fairly stubborn which suggests a fair amount of buying and short pressure failing.

I could be wrong, 1 trading day to go

Snappy

Some of what you say makes sense however you do seem to be seeking the demise of the business.

The problem,as played out by yourself is:

PFC have won too many contracts and are struggling with the initial financing to commence work.

As stated by PFC management, this is a short term liquidity issue that they are addressing via various means and are actively bringing professionals onboard to assist in making the right decisions.

Legacy contracts and late collections have caused this.

5 of the 8 legacy contracts are expected to be completed late 2023 or early 2024. So we can assume the later. Hence the temporary cash flow situation, emphasis on temporary.

Https://www.petrofac.com/media/news/petrofac-secures-brownfield-epc-framework-with-totalenergies/

Good find paddy

A sensibly worded report, we can only speculate on what the various options might be but seems increasingly likely that shareholders and bondholders aren’t the scapegoats.

The hedge funds shorting PFC also have a responsibility to their investors. We may not be looking at the bottom? But more importantly we certainly aren’t looking at the top share price.

My gut is saying the trading update is likely to be exactly what it says on the tin with little or no resolution to the current issue.

We shall see, only 2 trading days left.

GLA

Https://www.forbes.com/uk/advisor/investing/2023/12/06/most-bought-and-sold-shares/

PFC are in the top 10 most bought

E-AL

Is it a coincidence that the O&M business in Aberdeen employs 3000 people and petrofac have just reportedly increased their headcount by 3000?

Grow up

According to PFC website

Asfari, Azvalor, Schroders and Hambro are holding 239,143,241 shares out of 552m

My thinking is

After the update, if the business has a decent future then directors will have the opportunity to buy.

The pressure on shorts will be tremendous if they’re still holding.

Shorts increasing is keeping the pressure on and holding the price down as we’ve seen more recently.

We’ve also seen a 30% rise when Astaris reduced.

It’s possible the shorts reduce to force an increase to encourage PI’s to jump in then increase again,force the SP down and frighten PI’s into selling a loss.

Find it difficult to believe that derampers spend all day posting negatively because they are disgruntled employees or PI’s who have lost money. Most likely they are payed derampers trying to scare PI’s into selling a loss.

It’s becoming more and more transparent as the days progress.

Just hope my opinion and many others who post on here are correct and the business is turning a corner and heading for better things.

The order book is immense, the business is transitioning into alternative energy and given the funding should evolve admirably.

GLALTH

Janbo

It would appear they are playing a risky game or are privy to inside information.

The later is illegal however.

If they’re still with us on Tuesday night then I’ll be much more concerned.

I am too deep to bail out now. As are our institutional investors who are still holding which gives some comfort.

Everything I’ve read about shorts is they are usually right, however they got caught in March so not always!

Noise from the company is of a bright future so that’s all we have to go on.

Fitch are clearly clueless as were JP Morgan when they put a 75p target on RR.

We know there are issues with cash flow and the business has claimed it can resolve these issues via various means which at the very least suggests there will be a future.

I really hope so as it’s also common for management to blag it until the point of failure.

Onwards

Thanks for your response

I also enjoy your posts.

Indeed next week will be interesting also the remaining short positions disclosed after today’s close.

All the best

SM

Onwards

I do understand pal.

I’m down considerably and thought that collective organized buying would show solidarity and perhaps if enough people subscribed, some movement.

So, the phrase poor show simply refers to the 1000 shares buys on the hour.

Onwards

Sorry but a very poor showing for what was a reasonable idea.

I’m just going to sit on the sidelines for now .

All the best

1000, 20.906 at 11:00.01

Dancuk

Insults not required, I thought it was a good idea, not mine and was disappointed with the numbers that saw it through.

Hence my post, last chance at 11:00

I’ll go again, out of interest.

Let’s face it 1000 shares is peanuts, I’m holding 352,000 now

It’s an experiment, nothing more!

Play nicely

1000 shares at 11:00 on the dot.

To show solidarity

If we can get this going it will atleast prove who is willing to put their money where their mouth is.

Has to be 1000 shares initially for proof!

How many agreed to buy a1000 shares at 10:00 on the dot and failed

Shame!

Correction price was 21.214

Done

1000 shares at 21.22 @ 10:00.01

I’m in for that

Looking at the volume yesterday and today, appears the shorts are reducing. How are they keeping it so low? Cat will be out of the bag after the close today when we see the reported short positions above 0.5%. I suspect it’ll be a fair few % below 9?

If that’s the case, then Monday will be the scramble.