Member Info for Snapper10

What is there to acquire?.......
Loss Making contracts and Debt........
Orders?????? What orders........
Proven track record in EPC NOT.......
Assets????????Not a lot....
You could not give PFC away........
Its got nothing anyone wants......
And to top it all its been convicted of Fraudulent Trading.......
Its not a CEO thats needed its a Second Coming...........
And in EPC contracting that doesn't happen........

And his CV states.??????
Hes a Vice President Opperations at best.
PFC need someone who has turned companies around big style........
The new guy is a patsy being sold false promises and Jam tomorrow.......
Too Late by 10 years....

In May 2012 these shares were £17.35........ and since 2012 the have only went one way...........
And I know a lot of people still sitting on them who were employed by PFC who saw this as part of there retirement package........
they are sitting on a bag of Cr@p now.......

AS published BY PFC in there last accounts.....
PFC can not say anything because they have nothing to announce.......!!!!!!!!!
Sub contractors and Suppliers are now squeezing PFC on contracts wanting Cash Positive for any work........!!!!!!!!

Residual Contracts (State Of Play)
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........
If they say anything to the contrary the auditors will go ballistic......
And on existing Contracts do you think the Auditors will accept PFC self certification,They will have independent verification prior to sign off.!!!!!!!!
Prior to a award of any new EPC contract the client prior to his release of the 10% front payment will want a advance payment bond in place. Who today will write a Bond for PFC ????????
Its only a waiting game and the clock is fast approaching Mid Night.............

AS published BY PFC in there accounts.....
Residual Contracts
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........

A reminder........
As of the date Dec 22 what is the Balance of Contract work to complete ?????.......The last published Accounts Conclude Very little......Its common knowledge in EPC contracting the last 10% of Earned value costs the contractor money......Re-Work ect ect
Money tied up in Performance Bonds,Claims,
Hows this going to look NOW......10 times worse because work is running out,cash flow is suffering.......
And NO orders have been received of any Significance........
What is going to compound this is when a order is received it takes time to mobilise and ramp up a new project.......
Residual Contracts
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
Current Orders-
Algeria Mabrouk,
Oman Erawin,
Libya PC
Orlen, Lithuania
New Orders.......????????
Wheres the Pipeline of Work.......... No Work then very SOON Bye Bye PFC.......

A reminder........
As of the date Dec 22 what is the Balance of Contract work to complete ?????.......The forecasts say Very little......Its common knowledge in EPC contracting the last 10% of Earned value costs the contractor money......Re-Work ect ect
Money tied up in Performance Bonds,Claims,
Hows this going to look NOW......

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
Current Orders-
Algeria Mabrouk,
Oman Erawin,
Libya PC
Orlen, Lithuania
New Orders.......????????
Wheres the Pipeline of Work.......... No Work Bye Bye PFC.......

That's about 35% of the 10 billion Bidding pipeline gone already.........
Pressure is building to win work......

Xmas is coming early......
Petrofraud is in its Death Throws......
They Don't Listen or learn.......

Petrofraud Limited admitted that senior executives of the Petrofac Group paid GBP 32 million (USD 44 million) in bribes to corrupt the awarding of contracts worth approximately GBP 2.6 billion (USD 3.5 billion).
Nothing to do with Civil Servants or the SFO.......
Directors of Petrofraud authorised the use of £32million to make these payments.........
Theres always some one else to blame.....

Keep taking the tablets.........
try to get the doctor to look at your dosage.........
PFC are in dire straights and are currently laying people off .........
tuppence halfpenny fixed price contracts are high risk don't you know......
today the lowest share price ever for Petrofraud.......

Needless to say, a construction project depends for its success on the contractor performing its obligations under the construction contract.
Banks could be scared to provide newPerformance bonds and guarantees inhibiting PFC from winning additional work.....
What is the current availability on fresh Performance bonds and guarantees........
Petrofac don't exactly have a great record on Project Delivery on time....

Those figures are 12 months old.......What do you think they look like today.......In Real terms........
With no new revenue streams everything is cash burn.......Damage is Done over the Cliff and falling.......

All From PFC Accounts Page 78.......
As of todays date Dec 22 what is the Balance of Contract work to complete ?????.......The forecasts say Very little......Its common knowledge in EPC contracting the last 10% of Earned value costs the contractor money......Re-Work ect ect

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
Current Orders-
Algeria Mabrouk,
Oman Erawin,
Libya PC
Orlen, Lithuania
New Orders.......????????
Wheres the Pipeline of Work.......... No Work Bye Bye PFC.......

Page 78.......2021 PFC Annual Accounts.
As of 31/12/21
According to the PFC annual Accounts the vast majority of the PFC workload is between 94/64%Complete....Including 4% on the Lithuanian Refinery the only EPC work they have of any significance....
We are 12 months further down the line and the majority of this must be Nearing 95% completion?????
Without NEW Contracts where is the replacement contracts to fill this void........
The writing is on the wall to see......
You could not make this up......
Are Investors Blind.....
Take time and READ Carefully it should be set explanatory......

The constant Drip Drip is not going to win Contracts.......
When you claim your innocent and your proven you lied.......
The question is when Do you tell the truth.....

29 April, 2022 | News Releases

The Serious Fraud Office (SFO) has recovered £567,466.53 from personal bank accounts linked to a former fixer for the Petrofac group.
The three bank accounts – all linked to the Basim Al Shaikh (now deceased) – were identified and then frozen by the SFO on 3rd February 2021, on suspicion of containing the proceeds of crime.

Mr Al Shaikh worked as an agent for Petrofac’s business in the United Arab Emirates and paid bribes to secure contracts for the Petrofac group. He used two United Arab Emirates companies, Gulf Development Marine Services (GDMS) and Northern Coast Construction Materials (NCCM) to launder these bribes.

Westminster Magistrates’ Court granted three account Forfeiture Orders on 28th April 2022 under the Proceeds of Crime Act 2002 and confirmed this money could be recovered by the SFO on behalf of the Government.

"PFC are just a tax dodging, money funneling body shop."
People are waking up.
No I was not sacked.......
I told PFC they would lose a fortune on Sullom Voe....... PFC Knew Better...... One of us was right.......ME the facts are out there........I left.......
End of Sad Story......
."PFC are just a tax dodging, money funneling body shop." using cheap Indian labour and charging UK rates for work done in Sharjah........Do you think Oil Majors want to be ripped off really ..........
Its not "Value For Money " that wins work,Not we speak Arabic......
Oh and I forgot in the Oil Industry UNLESS you are prepared to be into "Bribery and Corruption " you are wasting your time..........

"The Clean Fuels Project generated first steam in November 2018 and achieved completion in August 2020."
Clutching at Straws........
England won the World Cup in 1966.Is that similar past glories and all that......

A "Finished" Project.....
Also a consortium win......
Where is the new EPC awards TODAY........
???????????

Separation processes, such as distillation, dewaxing, and deasphalting make use of the differences in the physical properties of crude oil components to separate groups of hydrocarbon compounds or inorganic impurities, whereas conversion processes cause chemical changes in the hydrocarbon composition of crude oils. For example, Fluid Catalytic Cracking process breaks chemical bonds in long-chain alkanes to produce shorter chain alkanes to produce gasoline from higher boiling gas oil fractions. Finishing processes involve hydrotreating to remove heteroatoms (S, N, and metals) and product blending to produce fuels and materials with desired specifications and in compliance with environmental and government regulations. Finally, supporting processes provide the recovery of the removed heteroatoms or heteroatom compounds, production of the hydrogen necessary for conversion and hydrotreating processes, and effluent water treatment systems.
PFC have Not one Licenced Process in the Refining Market........The Middle East is that market do you think PFC has a advantage because someone speaks Arabic.........
Its back to basics a client wants to know what do you have on board TODAY to deliver his project.......
PFC response we can hire them.........
Client response ,,,,,,,,,Bye Bye Mr PFC............