Member Info for Snapper10

"I have just searched all three and there are no such articles.

All 3 would have shown you the headlines in any case and the Guardians access is free.

Report to the bulletin board police and FCA. They can do the rest."

It sums up the Propaganda on here....They are even Reporting the PFC Plus Propaganda......

FEAR FEAR its the worst nightmare......

The Sign of Dripping "P"

Why would PFC sell of its biggest Moneymaker.... Cash Cow??????

From 2021

"Private-equity backed 3t Energy Group has inked the deal which includes Petrofac’s survival and marine, health and safety, fire and major emergency management capability and facilities.

A total of 104 Petrofac employees will transfer to 3t, which is funded by Blue Water Energy.

The acquisition, which should go through in the next two months, is not expected to result in any redundancies."

Why becase of the need for Cash?????

19.45p close....

And currently PFC are being sued in the High Court by institutional Investors....... Will the Institutional investors have cashed In....or still holding....I would Imagine Cashed in ...As they would have to Define Loss.....or can other Investors Join The claim?

What will make this worse is...

Its Squeaky Bum time for the auditors already when that case gets going........ The black Hole Deepens????.......

I can see the PFC defence .......LOL......

It was 2 big boys that done it m,laud.......Then they run away......

Or it was rogue senior managers acting without the knowledge of the Directors......

Oh silly me they used that one the last time......... It didn't work then.....

And the real rub being that the auditors stated in the Annual Accounts that the highest risk associated with PFC is Financial Management......... And then there is the Bit about Going Concern.....

Maybe he needs to trawl through the "Directors Shares Buy" and see when the BOD actually purchased Shares.......?????? and not the quarterly share awards.....

Collections on Legacy contracts are never easy......

Especially when you get the Engineering wrong.....The knock on effect is that client become pedantic and starts looking at the project through a microscope......Throughout PFC history Legacy Contracts have been its Achilles heel......And PFC then will try to blame things like Weather in Shetland or Brexit or the Unions or suppliers or covid.....Ect Ect thats why Fixed Price EPC contracts are horrendous and 95% of PFC are fixed price.....

What compounds this further is......The Scope Risk for PFC on TenneT is massive in that they PFC don't own the Key elements......

Heavy Lift -Fab Yard -Transportation Sub Contract..... A Specialist Sub Contractor will not take a High risk.....In Fact I would Imagine any sub contracts coming out from PFC the sub contractor will only accept on a Cash positive basis.......Also upfront mobilisation costs being met by PFC further impacting Cash flow at PFC is considered industry norm when dealing with PFC.....

If that Supply chain is broken due to for instance to delays such as Late Payments and a weather window is missed.......Disaster........ Liquidated Damages kick in.....

PFC have tried hard to manipulate the TenneT work as its biggest contract win, throwing out contract values as $13.5 billion ........

TenneT as a client is not going to rush up front EPC contract payments without guarantees from PFC on these funds......Considering the Share Price its highly unlikely TenneT are not asking very serious questions on PFC viability to deliver........

TenneT are looking at project support from the Dutch and German Governments .......

The Dutch are not going to be ecstatic about contracts going overseas and Non Dutch contractors.....

PFC have made the TenneT contract and cash as wonderful business for PFC to the markets ........

The Question is it a Reality or Utter Desperation on the part of PFC.......

The Auditors did say in the Accounts that PFC biggest risk is still "Financial Misrepresentation....

"Mystic powers are afoot inPFC......

Now when they take that route......."

Will they see the Receiver Cometh............Or are the Receivers hidden in the Smoking Mirrors.....

LOL....

I see Nurse Ratchet has had a day off....

The Delusional did not get there Meds this morning........

And PFC have increased those booking to Job No 666 to pump out absolute last gasp propaganda about legacy contracts that are close to completion..... wheres the RNS????......Josef Goebells would be Proud

Financial Mismanagement is not words auditors' state for errors in the accounts.....its really Bad....Its beyond Bad.......And todays only Wednesday......

Good luck

Good Day and the bonus Celik gets thumped.........

Its called profile on LSE when you register.....your Name and your e mail address ....I know my profile is correct......

I also know that I have never been convicted in UK court for Bribery and Corruption......

The truth will out........

Hapless Harry

My posts refer to PFC accounts issued by PFC and there Accountants.....

If you think they are in any way misleading....

Try referring it to the BOD at PFC.......if the accounts dont state things like PFC highest risk is "Financial mismanagement ".....

Well that's not a red flag.......I must be a Dutch man.........

Ayman Asfari 84,998,664 Shares @ £!7,34 .....2012

Ayman Asfari 84,998,664 Shares @ £0.27.....today

It sums up PFC Smoking Mirrors.......And Thats Fact..........

Clungeseeker

The shares I got from PFC were at £!7.34..........And since that day the Shares have only went one way......

Down and Down in 2012......I know I Was right since then.....

I have seen real crooks at work in FWEL Simon Carves Carillon Inter Swerve but my eyes were opened when I Joined PFC....It was on a different level......It was obvious in 2012 it would end badly what surprises me is that it has taken so long to fully out the Criminality....

PFC Vetran

And Since the SFO Etc Etc .....everyone who started the bliding obvious was a liar a Drunk Sacked embittered employee...Etc Etc.....

When the Receiver goes into the PFC building then I know I was right........and only then......

And it will not be long now by the way.....then the Champagne Corks will pop big style .....

I believe some one may already have sounded a Receiver ......IMHO but that may only be someone winding me up......LOL

Https://www.petrofac.com/media/i4khgz50/hy23-group-accounts_final.pdf

If there is no Black Hole.......But there IS.......

There would not be a Problem because PFC would continue to Fleece The Banks and Shareholders...... and Totally gullible investors with promises of Jam tomorrow.....

The Black Hole stops any returns and exposes the Bankers to bigger losses whose fall back was always the over inflated Security of the pledged Shares....thats why this will now fail........

The Pledged Shares are Penny Shares....

And the Auditors realise that the Black Hole will potentially get bigger..........December trading Update will have been compiled So Auditors will have had there say........... and the Trading update will reflect this......So something has leaked along the way......IMO

DYOR

ELO.....

Propaganda,,,,,,,

Its all in the Accounts or can't you read Accounts..........

+ the Big Black Hole of 1.2 Billion

Plus ernst young saying The Biggest Risk is PFC and financial Mismanagement.......

Converting the order book into cash is the problem .......

The order book is propaganda......

CLUNGE

PFC work is 95% EPC Fixed price....

Carrilion was 95% cost recoverable but on tiny margins.....

Carillion was robbed by Crooks.....

PFC are Crooks as the courts confirmed when convicted

Plonkerchips

And all the rest....

Black Hole of 1.2billion....

Legacy Contracts ....Performance Bonds.....

It all adds up and goes down as debt.....

Its PFC after all Financial mismanagement is a by word.....

It's all in the accounts........