Member Info for Snapper10

pfc can pick up contracts going forward........ but are these profitable contracts...........

but there past history has been proven that these contracts have been major loss makers........(due to underestimation at the bid stage and **** poor contract execution and contract strategy)

until they can show profits and returns for investors the price will stay low.......

in 2012 this was a £17 share......

pfc claimed to the market that they were profitable,this was false information in that they knew they were losing hand over fist on contracts........

they were caught and convicted for bribing clients for work which they expected in return that the clients would play ball when claims ect were submitted hence guaranteeing profitability...........that strategy backfired..........

now every bid and contract is under microscopic scrutiny.........

the legacy contracts are bleeding every dime from pfc to complete exasperating the current cash flow and creating a vast drain in expenditure on pfc to complete.....

and the possibility that pfc are continuing to be undercutting competitors through sheer desperation also will be causing concern.........

until pfc produce fully audited accounts stating the company is profitable then you can expect the share price to reflect its current market value........

however if the legacy contracts continue to increase then its inevitable what the outcome will be..........

just always remember this was a £17 share.........

Whnen Will the accounts tell you how much PFC lost this year??????..............

I wonder........

Residual Contracts (State Of Play)as of last year accounts.....

UAE Duqm Refinery, 94% @31-12-2021

Oman Tinrhert, Algeria 91% @31-12-2021

HKZ Alpha – Netherlands88% @31-12-2021

HPCL Visakh, India 88%@31-12-2021

Seagreen, United Kingdom 82%@31-12-2021

Majnoon CPF, Iraq 76% @31-12-2021

HKZ Beta, Netherlands Clean Fuels Project, 66% @31-12-2021

Thailand Ain Tsila, 66% @31-12-2021.......

the majority must be near 99% complete..........

PFC are burning there own Dime as they say in contracting when contracts overrun and are supposedly complete........

Actually they are burning the Shareholders Dime.............as this is lost money due to underestimation and Poor contract execution .......... something PFC excel at.............

Remember its PFC Dime thats burning to complete this work............

The contract value is gone on these works........

So to complete this work the cash burn is down to PFC plus additional lost Man Hours...........

At least 6 jobs just burning PFC cash with no returns currently...........

Its the History of PFC get 85% complete and the last 15% costs PFC a fortune.......

How many current contracts that have been won that will follow this Trait????............

During the Laggen Turmoil Days ...........PFC Share Price £17.........

PFC lied constantly about Progress and Reporting continually forecasting Profit........

And burnt a lot of the City People who invested in those lies...........

Is it not the case that people will not wait to see Profits and Dividends returning before believing in PFC..........

Which appear a long way off.........

There reporting reflects this observation........

Shareholders are looking for a return.....

No Profits No Dividends.......

The Share price reflects this......

And PFC have history They reported non existent profits on Laggen Turmoil........ which showed massive losses because there price was £600 million lower than the competitor .............

You can take a horse to water but you can't make it drink..........

if you buy work you need to be good to turn that work unto profit..........

And PFC aint good in fact they are are totaly hopeless and thats being kind............

Will the accounts tell you how much PFC lost this year??????
I wonder........
Residual Contracts (State Of Play)as of last year accounts.....
UAE Duqm Refinery, 94% @31-12-2021
Oman Tinrhert, Algeria 91% @31-12-2021
HKZ Alpha – Netherlands88% @31-12-2021
HPCL Visakh, India 88%@31-12-2021
Seagreen, United Kingdom 82%@31-12-2021
Majnoon CPF, Iraq 76% @31-12-2021
HKZ Beta, Netherlands Clean Fuels Project, 66% @31-12-2021
Thailand Ain Tsila, 66% @31-12-2021.......
the majority must be near 99% complete..........
PFC are burning there own Dime as they say in contracting when contracts overrun and are supposedly complete........

Contracts that make money are what builds a company......
PFC have had nothing but loss makers over the years.......
Lagen Tormore was a Billion Pound contract that cost PFC £500m in losses........Even though PFC was stating in there accounts it was on schedule and to budget.......
They have had nothing that made money hence no dividends to for the investors........
in the current accounts do you expect a second coming........No they are full of more losses..........
PFC have a £1billion order and whats going to say its not a £500m loss.........
The pattern is there for all to see..............You are only as good as your last job in this Industry and the accounts tell the story......
So wheres the chance of a good return....... Ah only if the share price goes up but PFC are now being scrutinised under the microscope and until theres a dividend on the horizon its not going anywhere........
Wake up and smell the coffee ..........

heading to the 30s

The PFC share price is falling at a constant Rate....
In Dec22 it was AV £0.92 today its less than £0.50
in about 12 weeks could be worth 0....
In the meantime PFC burn cash supporting loss making contracts and no new work to change the outlook......
Without new work you have Engineering and Procurement Staff costing you a fortune in overheads.......
Announce staff reduction in those areas and what would be the outcome......
Any CEO worth his salt would be reducing his overheads by this cost cutting ....but he can't because it mean the end....
its the ultimate in catch 22......

I am only reiterating what I have already stated.....
Putting everything together I put forward last week in one Post.......
its to offset some of the notions such as buy outs new orders ect ect...
its called reality

Value????
Minor Works......

Do you think any client is going to commit a large Project to PFC........If so then as Investors in PFC you are delusional........ and too far in to see reality......
When any client reviews his Pre Contract Award "Risk Register" alarm bells will ring so loud they will deafen all around and it will be like being hit by Tsunami........
PFC and liquidity going forward will be too much for any client to risk a Contract with PFC........
Bearing in mind that if they chose to ignore the obvious signs then its there neck on the line.......
Reflection of the management of PFC CEO Ayman Asfari
To all the Nay Sayers the figures are 100 % Factual and don't lie......
Ayman Asfari Equity Value:
05-Jan-23 to 04-Jan-23 Ayman Asfari 84,979,097 @£0.55 = £46,738,503.35 approx Todays Value.........
Was Jan-2012 04-Jan-23 Ayman Asfari 84,979,097 @£17.45 =£1,482,885,242.65 Starting Value
He has run PFC into the Ground..........I think I would be asking big questions if I had lost over £1.4 Billion.......
The SFO Saga
"Petrofac Limited’s conviction and sentencing brings to a conclusion the investigation into suspected bribery and corruption as far as the corporate entity (and its subsidiaries) is concerned. The investigation into the conduct of individual suspects continues."
Why don't they the SFO or PFC name these individuals or are they current or EX PFC??????.........

What Strikes they were settled .............. Nonsense nothing was settled...........
Contracts ,Orders?????? What orders........Nothing to announce......Because any Client worth there salt knows a contractor needs to cash to survive........PFC needs to refinance,and thats not going to happen easily.......
Takeover.......What is there to acquire?.......Nothing but Loss Making contracts and Debt........
Proven track record in EPC NOT.......Disaster after a Disaster since 2012.....
Assets????????Not a lot....Most have been sold that were profitable…
You could not give PFC away........
Its got nothing anyone wants......
And to top it all its been convicted of Fraudulent Trading.......
A CEO thats not a CEO..... PFC its got chaos written all over it.......
These shares are TOXIC.......

PFC are renting there office Space....... so theres not a asset there and it would appear PFC are downsizing which also does not appear theres confidence within PFC.......
Especially when on your front Door its says Offices To Rent......

One of Aberdeen's largest office development has been sold in a £59.9 million deal.(This 2012)
Bridge View and Consort House, comprising nearly 160,000 sq. ft over six floors, has been sold by Northern Irish property firm Ulster Estates to Gatehouse Bank, a wholesale Shariah compliant investment bank based in the City of London.

Bridge View, constructed in 1998, and Consort House, a purpose built extension developed in 2006, is currently fully let, mostly to oil and gas service provider Petrofac for its North Sea headquarters.

The sale represents a net initial yield of 7.15 per cent.

Blackcube Asset Management advised Ulster Estates and Gatehouse were advised by Nightingale Partners on the deal.

I the case of PFC is there working capital is being diluted by the fact they are losing money on existing contracts........
Also they are supporting overheads themselves because of lack of new contracts to book against......
eg. the Reception Canteen and Health centre in Bridgegate House are now back with the owners of the building.......
Thats a bad sign in itself .......... trying to cut costs..... but thats desperation

Pokerchips
Another problem is the Short Term Gearing PFC 57% then look at WG 28%.......
PFC are in a bad way liquidity and clients will see that..........
Thats why from a clients point of view they will incur unnecessary risk......

Do you think any client is going to commit a large Project to PFC........If so then as Investor in PFC you are delusional........ and too far in to see reality......
When any client reviews his Pre Contract Award "Risk Register" alarm bells will ring so loud they will deafen all around and it will be like being hit by Tsunami........
PFC and liquidity going forward will be too much for any client to risk a Contract with PFC........
Bearing in mind that if they chose to ignore the obvious signs then its there neck on the line.......
Sorry its Good Night Vienna.........

If these figure are reflected in institutional investors they are also very quite about the mismanagement of PFC considering they are possibly exposed to a £2to £3 billion losses.........If they were original investors.......

RSI18 & Knicker licker
*******s
Do your own Homework See PFC Accounts page 116......
"Share plan interests awarded during the financial year
Performance Share Plan awards
As detailed in our remuneration policy, PSP awards are granted over Petrofac shares representing an opportunity to receive ordinary shares if performance conditions are met over the relevant three-year period. The number of shares under award is determined by reference to a percentage of base salary. Details of the actual number of shares granted are set out on page 113. The following table provides details of the awards made under the PSP on 6 March 2020. Performance for these awards is measured over the three financial years from 1 January 2020 to 31 December 2022.
?Type of award
Ayman Asfari Performance Alastair Cochran shares
Face value
£1,421,397
£908,398
Face value (% of salary)
200%
200%
Threshold vesting (% of face value)
25%
Maximum vesting (% of face value)
100%
End of performance period
31 Dec 22"

RSI18
They never bought any shares in PFC........
This is part of there renumeration package for being a Director in PFC.......
The shareholders paid for them..........

Reflection of the management of PFC CEO Ayman Asfari
To all the Nay Sayers the figures are 100 % Factual and don't lie......
Ayman Asfari Equity Value:
05-Jan-23 04-Jan-23 Ayman Asfari 72.02 84,979,097 @£0.55 = £46,738,503.35 Todays Value.........
Was Jan-2012 04-Jan-23 Ayman Asfari 72.02 84,979,097 @£17.45 =£1,482,885,242.65 Starting Value
He has run PFC into the Ground..........I think I would be asking big questions if I had lost over £1.4 Billion.......
He's silent it tells you something........