Member Info for Sm66

Snapper
If PFC is a lost cause due lack of orders, why have azvalor and j o hambro purchased over 100million shares recently. Also why have shorts been reducing?

Good spot!
Of note, wood current sp £1.54, the board have rejected £2.30 as it’s too cheap?
I have to wonder if the vultures are circling above PFC and if so, what the bid might be?
More importantly, what size of bid may be acceptable to the board?
The very fact that 2 II’s have recently purchased 20% of PFC makes me wonder who are they buying for?

Systematica reduced 0.11% yesterday.
Total shorts now 2.27%

So, since January 23rd, 2 different institutional investors have purchased circa 20% of PFC, the shorts have reduced to 2.38% and the bots are in overdrive today. What are the odds we see the shorts reduce more today, won’t find out until Monday sadly. Feel for those that have given up and sold out. I haven’t but have been tempted once or twice. Obviously a nice juicy RNS of a deal with ADNOC or similar would be most welcome now. It’s been too low for too long.

With all the SFO issues now firmly in the past, what is going on?
The shorts have to close at some point which will drive the price up quickly but when, I’d love to know their target.
The latest news stream has been positive
Adnoc, shell, BP, tullow etc, etc.
Admittedly a small strike is understandable but not to this extent.
New CEO also not necessarily negative.
MCAP now 387m seems crazy cheap?
I’m not selling a carrot regardless of the price.
Sod the shorts and all their employed derampers.

https://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=PFC.L

https://oilreviewmiddleeast.com/industry/petrofac-wins-new-oman-business

Just as soon as enough people panic and sell a loss, in order for the institutional funds orders to be completely filled.
Who knows how long that may take but it will happen.

LILO
Good post, appears Tareq is very well connected and with a wealth of relevant experience.
It’s going to be interesting to see what the market reads into this RNS.
It’s possible that the shorters had wind of this move hence the timely reductions?

Agree to some extent but the entire market is down, the shorters have played this very well and I’m envious, however if I’d been clever enough to short PFC, I’d be closing it now.
The news feed for some months now has been all positive, regardless of oil and gas prices, the industry is being forced to grow due to Russian impact, even more so after yesterday's pipeline mysteriously blowing up?
The revenue is growing and gaining pace, whilst disappointed with the current SP, it’s a blip IMO driven by market sentiment throughout the world let alone this country.

Realit
The 2 are unrelated.
Serica energy are extracting gas from the North Sea, the other is in the Middle East, Oman.

Dan
I G is a trading platform, I use I G and Barclays but prefer I G as prices are live.

IG showing an RNS for a 3 year contract extension with serica energy.

BRIEF – Hartshead Resources Announces Deal With Shell For Phase I Development Gas Offtake Engineering Study
22 Aug 2022 11:31
Aug 22 (Reuters) – Hartshead Resources NL :
Agreement With Shell For Phase I Development Gas Offtake
Engineering Study
Agreement To Conduct Engineering Study For Preferred
Offtake
Route And Agreed Tie-in Option For Phase I Field Development
Engineering Study Will Be Conducted By Petrofac
Source text for Eikon: ...
Further company coverage: HHR.AX
© 2022 Thomson Reuters. Click for Restrictions.

Apologies, not an RNS although possibly will be soon, it’s news posted by Reuters.

RNS on IG posted at 11:31
Harstead resources will be using Petrofac for a phase 1 developement Gas off take engineering study deal with Shell.

Faith not required.
PFC was 370p range pre-pandemic, 1700p pre-investigation.
Former CEO personally has 89 million shares,
This sector is overdue a rise, the economic outlook is very good, clearly it takes time for such large contracts to go through the system but with potentially $50B over the next year or so, the outlook must be positive.
Regarding a takeover, I agree it looks like a target at these prices but someone would have to buy 5% plus to kick off and that would cause a frenzy?

The deal is for ADNOC drilling and it’s partners, PFC could well be involved?

I read that as in line with expectations and with healthy optimism for a strong few years ahead.

Current total short positions equate to 1.59%, not very much IMO, GLG reduced slightly on the 3rd august. Hope that helps.