Member Info for Sm66

Currently 74 bid 80 offer, back to where it was when the share price was north of 120p.

I think the SP has a way to go yet?

Theory on the preferred bidder situation.

Tenet deal for €7B wasn’t part of the $4.5B

So far we’ve had

ADNOC $700m

Algeria $1.5B of which $1B was PFC share

Therefore total so far awarded $1.7B out of the $4.5.

More in the pipeline me thinks?

GLA

Amazing how 4.66 million shares bought at 81p has no impact but a few thousand AT sells drives it down 3%? Shows whos in control of the SP.

Whatever games are being played, the rerate is coming IMO. Constant stream of contract wins including the largest ever won by PFC and still the shorts appear to be in control?

Shocking.

Someone got a deal!

4.644 million shares purchased before the close, approximately 16:18!

Shorts running or large buyer?

So, the brains at Barclays have had a 200p target on PFC all through the turmoil of covid and the SFO saga. Now when the business is clearly making headway, they cut the forecast to 90p, really? Screams of Jp Morgan cutting rolls Royce to 75p weeks before it took off to 150p. Muppets!

Seems I got carried away there?

The processing plant is part of the pipeline extension award!

Sorry guys!

Sorry, to clarify

Last weeks RNS $700m for a processing plant.

Todays announcement $1.5B shared for gas pipeline.

I think on closer inspection that todays announcement is for a gas pipeline, not related to last weeks RNS. Todays is a shared contract worth $1.5B, last weeks $700m!

Expect another RNS from PFC imminently!

Https://www.petrofac.com/media/news/petrofac-extends-relationship-with-neo-energy-to-optimise-life-of-field/

Indeed Bobwinner, good spot!

Another $250m worth of work!

Maverick,

My money is on ADNOC for the next contract win, oilandgas Middle East.com have stated that bidding is ramping up, we know that PFC are actively bidding and expanding employment in the UAE. It’s only a matter of time!

Https://www.oilandgasmiddleeast.com/news/uae-petrofac-hiring-for-272-vacancies-as-contract-activity-ramps-up

Anyone else looked on the PFC website at the internships being offered to UAE students?

This looks to be a very well timed development in the UAE. Also, those students won’t be wanting to travel abroad for their internships.

Could this mean we have news of a new contract in the UAE to be announced soon?

GLA

Not that PFC have been subject to windfall tax directly, however it has caused a lack of investment in the industry. If the government lift the tax today, one would imagine a decent uptick in the share price. Could even be sufficient to spook the dreaded shorts?

Good post maverickD

Thought I’d add a link for the nay sayers.

https://www.forbes.com/sites/johnbuckingham/2023/06/06/ai-for-value-investors-megacap-tech-etn--dlr/?sh=1f729bae3a89

Perhaps the $Billion question.

The report does claim to be the largest hydrogen plant in Europe.

Astaris reduced their short on Friday.

Total short positions now 2.84%

Clearview

Agreed, also nice to see the bond price increasing.

There’s a play of sorts here, are the shorters increasing their long positions whilst driving it down. Who knows but this is crazy cheap. I’m holding firm.

Https://uk.advfn.com/stock-market/london/petrofac-PFC/trades

Over 1m shares purchased after the close, not shown on LSE but are on ADVFN.

Either shorts clearing out or someone building g a position?