Member Info for Snapper10

Cuban_Cigar

Rubbish.......

If that was the case then PFC would not be issuing a RNS saying they can't get Bonds........

PFC are High risk so they would be 10% IMHO

"It costs from 1% to 10% of the Bond amount using a fixed rate "WTF....

PFC have convictions for Bribery as well......Bond and Bribery are not good Bed Partners....

If according to PFC the Bonds approved by the Banks is too the maximum $500m……. https://www.petrofac.com/media/news/petrofac-limited-results-for-the-six-months-ended-30-june-2021/

Explicitly around Performance Guarantees which are normally 10% of the EPC contract Value……. EPC Contracts with Performance Guarantees on contracts to the primary value of around £3billion.the cost to the PFC revolving credit facility would be £300million as that’s the irrevocable bonds in place due to failure to complete the EPC contract to its required Performance capabilities contained in the EPC contract…..

Therefore the maximum contracts PFC could fund at any one time amounts to $5billion…..You also consider that $5billion of work is spread over 3 years approx.……..It does not leave a lot in reserve to fund Advance Payment Bonds for a contract?

Therefore it would be safe to assume that PFC have facilities for $1.5billion a year in contracts….According to there current Banking Facility…..

It therefore makes a mockery of the PFC Propaganda about $40 billion Pipelines…or Bidding Pipelines ect

PFC don’t have the funding to undertake or support that Volume of work…Or deal with any Legacy Issues currently…….

So why are they PFC Misleading Investors…Please ask yourself………

PFC Revolving Credit facility of $550million is constrained to the bonds which are in the region of $300 to $400million giving them PFC access to working capital of $100 to $200 million in real terms…IMHO

Source-“PFC Group…. (US$550 million new debt facilities, comprising US$500 million bridge to bond and a US$50 million term loan; and

US$180 million revolving credit facility as of 26/10/2022)”

https://www.petrofac.com/media/news/petrofac-limited-results-for-the-six-months-ended-30-june-2021/

Feel Free to Rebuff my Points all welcome…..

DYOR

Heres the strange thing........

The so called expert investors were calling PFC for a RNS to be issued.....

I belive my points challenge that RNS........IMHO or are we to say nothing......

And I would say the markets are reacting to the RNS as well........

Thought a lSE BB on PFC was a open forum to discuss these issues......

DYOR

You need a lot of Cash to run a $5billion a year Business....IMHO

PFC Revolving Credit facility of $550million is constrained to the bonds which are in the region of $300 to $400million giving them PFC access to working capital of $100 to $200 million in real terms…IMHO

Source-“PFC Group…. (US$550 million new debt facilities, comprising US$500 million bridge to bond and a US$50 million term loan; and

US$180 million revolving credit facility as of 26/10/2022)”

https://www.petrofac.com/media/news/petrofac-limited-results-for-the-six-months-ended-30-june-2021/

This is to some degree will have been additional highlighted by the Auditors… “Auditors highlight that a risk level has increased…especially “Misstatement of financial information” ……..PFC Banking Facility’s currently are fully utilised…

I chatted last night and realised there is people on this BB who are going to lose a lot of Money…

This is is there last chance to retain something….

The Facts IMHO

Point. 1,

PFC Revolving Credit facility of $550million is constrained to the bonds which are in the region of $300 to $400million giving them PFC access to working capital of $100 to $200 million in real terms…IMHO

Source-“PFC Group…. (US$550 million new debt facilities, comprising US$500 million bridge to bond and a US$50 million term loan; and

US$180 million revolving credit facility as of 26/10/2022)”

https://www.petrofac.com/media/news/petrofac-limited-results-for-the-six-months-ended-30-june-2021/

This is to some degree will have been additional highlighted by the Auditors… “Auditors highlight that a risk level has increased…especially “Misstatement of financial information” ……..Banking Facility’s currently are fully utilised…

Point. 2,

TenneT have engaged a contract with PFC and are sedentary awaiting for PFC to put in place the required Performance Guarantees and Advance Payment Bonds for a contract?........Will TenneT delay for ever.........The Clients will go with Contractors who can Satisfy the "Contract Requirements" for Performance Guarantees and Advance Payment Bonds....... "

And in the Meantime...the clock is running......PFC are in a total INDETERMINATE STATE.......

Point 3

Until Legacy Contracts are complete the Banks will not issue any New Bonds for TenneT or other new Contracts… The PFC Banking Facility’s currently is fully utilised…Clients don’t release Bonds until the work is Finished on the Legacy Contracts, If they did it means they have to pay Twice for work…. The bond if it is called negates this problem for the client…

Without TenneT PFC are Finished because for years PFC have preached about the Bidding Pipeline…Unfortunately this Bidding Pipeline brings loss making Contracts….If a Bond was pulled everything will collapse in Days……Banks are Over Exposed Because of the Bonds……..

Point.4

With regard to the Asset Business…

Anything with value was predisposed last Shares Dilution…

The Banks will hold anything of Significance as Security at this stage of proceedings and will not consent to their Security Position to be undermined…

DYOR

Failure of PFC is down to PFC......

But if they failed ....its a champagne celebration.........

I would be pleasantly pleased......

But investors I genuinely feel you have been duped......By PFC with promises of Jam for all.......a fantasy.....

ignored my posts re sfo....

ignored my posts on performance bonds and advanced payments....

its cost a lot of people a lot of money.....

it's all in pfc accounts.......

pfc are run by some really bad people.....

who's experience you could write on the back of *** packet.....

and unfortunately a lot of people will get hurt.....

i was involved with carillion.....but in my opinion pfc are in a different league.......

I think you already know that's not going to happen........Sorry

You need 36 to break even?

I ain't a clown.....

But I genuinely feel if you've lost 700k....

Clunge

700k at today's price?

No University.....Trained with Mcalpines......

Left School at 16.......

And my health is first class.....

If you noticed I dont comment or complain about anything other than PFC......

You might say PFC is my specialist subject.....

i have been described in the past as inhuman......

a animal springs to mind.....

it's a old adage that maybe pfc chose to **** with wrong person......

it was there mistake......

I exist.......

PFC know I exist too.....

I've been in EPC contracting for over 40 years......

And I don't need to create any false information........

Remember who was done for Bribery......

I just know that in PFC a lot of people will suffer.....Its PFC doing......

Try reading PFC accounts.....

If you dont understand what's in the accounts......You should seek financial advice from a professional......

Its called Risk and PFC are one massive Risk....

IMHO......

1.With regard to the Asset Business…

Anything with value was predisposed last Shares Dilution…

The Banks will hold anything of Significance as Security at this stage of proceedings and will not consent to their Security Position to be undermined…

2.PFC Revolving Credit facility of $550million is constrained to the bonds which are in the region of $300 to $400million giving them PFC access to working capital of $100 to $200 million in real terms…….IMHO

Source-“PFC Group…. (US$550 million new debt facilities, comprising US$500 million bridge to bond and a US$50 million term loan; and

US$180 million revolving credit facility as of 26/10/2022)”

https://www.petrofac.com/media/news/petrofac-limited-results-for-the-six-months-ended-30-june-2021/

This is to some degree will have been additional highlighted by the Auditors… “Auditors highlight that a risk level has increased…especially “Misstatement of financial information” ……..

EmeraldCarrots

GMB and Unite shop stewards committee responded to the press release issued by Petrofac on Laggan-Tormore Project in the Shetland Islands. See notes to editors for copy of press release by Petrofac on April 20th 2015.

EmeraldCarrots

http://oilandgaspeople.com/news/story/petrofac-accused-of-poor-planning-and-mismanagement-over-shetland-gas-plant

Http://oilandgaspeople.com/news/story/petrofac-accused-of-poor-planning-and-mismanagement-over-shetland-gas-plant

If apparently PFC have more than 3 outstanding Legacy contacts then this they would be in a Agamemnon scenario…….FOR ALL…….

Furthermore the EPC clients can convert the Performance Bonds to recover liquidated damages under the contract…If the Plant constructed is not meeting its Performance requirements as stated in the EPC contract….. Liquidated damages are frequently capped at 10% of the contract value and a impact to that would result in a supplementary substantial total loss of the £300 million to PFC…..

Over the years the Legacy work PFC have had is well documented in the accounts….Its only a case of looking but the banks will also have noted this and here embodies the reason pressure is now put out on PFC by the banks of around there exposure under the Performance Guarantees and Advance Payment Bonds…….

PFC Revolving Credit facility of $550million is constrained to the bonds which are in the region of $300 to $400million giving them PFC access to working capital of $100 to $200 million in real terms…….IMHO

Source-“PFC Group…. (US$550 million new debt facilities, comprising US$500 million bridge to bond and a US$50 million term loan; and

US$180 million revolving credit facility as of 26/10/2022)”

https://www.petrofac.com/media/news/petrofac-limited-results-for-the-six-months-ended-30-june-2021/

With regard to the Asset Business…

Anything with value was predisposed last Shares Dilution…

The Banks will hold anything of Significance as Security at this stage of proceedings and will not consent to their Security Position to be undermined…IMHO

DYOR

IMHO