Member Info for Snapper10

Read the Key Words for the Stupid........

"Update Strategic and Financial Options As part of the Group’s ongoing financial restructuring, an ad-hoc group of senior secured noteholders have made a proposal to provide further credit to the business of up to US$300 million, comprising US$200 million of new funds and US$100 million of credit support to help secure performance guarantees for certain of its existing contracts. This non-binding proposal is dependent upon, amongst other things, the Company securing these performance guarantees", ........

"a proposal"

"non-binding proposal "

"dependent upon,"

"Company securing these performance guarantees, "

Put them all together and what has PFC got.....NOTHING.....Its A "non-binding proposal "dependent upon,"Company securing these performance guarantees, "

Its called Fine Print......

Total PETROBUST.......

Ask the auditors what they thnk?

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We'll theres stupid......

Tells you something about PFC

Halliburton are a oilfield service provider and major service provider for US Government...

PFC PFC undertake 90% of there revenue on EPC contracts.....

Gary

Contractors will only work for PFC on a cash positive position....

But that aint going to happen......

That ship sailed.....

The accounts show losses....

On EPC contracting 10percent profits aint there....

10% Margins

PFC currently lose at least 15 to 30% on average on Historical contracts.....

Wheres this 10% margin going to come from......

The terms state PFC need to get Performance and Advance PaymentBonds in place to even get Agreement.....

They have been trying to obtain these Bonds for months....

If you're Bonds History is bad

Seriously think this is about to change.....

Maybe read the RNS properly would help

Its not conjecture

Its all contained in The Accounts

You need to know that PFC are Corruption personified....

If you have worked for PFC in a senior position and seen it up close and personal.....

Its not conjecture......

I worked for decent organisations and they did pay what would be considered Bribes....

A Holiday A Car....

But $50 million......

Thats PFC for you

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So you can dish abuse at myself....

Check your submission history....

And I have to sit back and accept the personal attack on me....

I was upfront about my agenda I never hid my personal hatred for PFC and BOD....

But I can say today and tomorrow I delight in seeing this Dis Honest organisation get it's due rewards.....

Its easy to say you should have listened....

But unfortunately you chose to believe the propaganda spouted by convicted criminals.....

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Tell it to someone who cares....

If you dish it out and can not take it then you should have listened....

I know that I been proven 100% correct....

Maybe you cant read the messages I put up.. or too stupid to understand

Happy days......

Petrofac share price plummets after admitting it cannot make bond payment

Contractor admits payment problem and delays filing annual report, as noteholders make credit offer and upstream asset sale in Malaysia progresses

It means if you cant meet your bills your already bust....

Doh

PFC are bust.....I take English is not a strong point... ...

Listen to Sand dancer...

"The reality is that the situation is deteriorating rapidly now - if they cant get this through - and bear in mind that this is only an agreement in principal and dependent on the company being able to obtain to obtain the required guarantees - this will go under.""The Company is in active discussions with credit providers to obtain the required guarantees, which would also release over US$200 million of collateral and retentions, and will provide an update on the outcome of those discussions as appropriate."

IF PFC CAN NOT GET THE PERFORMANCE AND ADVANCE PAYMENT GUARANTEES TODATE....

Then after the RNS announcement do people seriously think that PERFORMANCE AND ADVANCE PAYMENT GUARANTEES are even up or on discussion with potential Bond Issuers......

4th Dec 2023

95% of PFC EPC contracts and are on a fixed price basis........FACT there Accounts reflect this.......

The Legacy issues are because PFC have for years misled shareholders regarding the true status of this EPC work..........

Legacy work is in some cases 5 to 7 years old............

If the status of that was not true then PFC could close Performance Guarantees and the Various Associated Bonds supporting Legacy Contracts..........

This is a massive issue, WHY DO YOU THINK THEY THEY PFC HAVE OWNED UP TO THIS FACT.......

Previously it was not a issue.........Because they PFC buried this Issue don't you think considering the SFO and the associated criminality the auditors have trailed through everything only to protect the auditors........

DYOR

A subject I do declare I have had considerable experience of with EPC Contractors in the past...Including PFC...

"The Company is in active discussions with credit providers to obtain the required guarantees, which would also release over US$200 million of collateral and retentions, and will provide an update on the outcome of those discussions as appropriate."

IF PFC CAN NOT GET THE PERFORMANCE AND ADVANCE PAYMENT GUARANTEES TODATE....

Then after the RNS announcement do people seriously think that PERFORMANCE AND ADVANCE PAYMENT GUARANTEES are even up or on discussion with potential Bond Issuers......

The Black Hole in the Accounts which PFC try to disguise to the Auditors as "Legacy Work" and "Claims" that they PFC expect to settle have ran there course....The Auditors want all outstanding and existing contracts totally independently verified and signed and fully audited 100% prior to putting there name to anything.....

PFC have been found wanting and the idiots with whom decried my warnings (Holding Shares at approx. £8 when I came on this Forum deserve to be vilified for there stupidity in not listing to reality.......

Take what you can get today as come Wednesday this is GONE......

Total PETROTRASHED......

I actually think Administration this Week

Badvoc

The Blak Hole the auditors are aware of os 0ver £2 Billion.......This has went on for years and the Fat Lady sang at least 5 years ago......

• Loss in its E&C division of approximately US$130 million –-----------So what about 4 months this year ?? more losses,

• 31 December 2023 was US$583 million ------------– How much now??

PFC were convicted by the SFO.......

If Auditors accounts are covered with words stating "Financial Mismanagement" after getting convicted for Fraudulent Trading....... Do you think any serious lenders are willing to fund these Crooks........

Its not just 2023 Accounts that are late.......Even Management Accounts which the lenders will want will be at odds with the Draft Audited Accounts they are flogging like a Dead Horse will be conflicting the auditors....

They PFC know the problem......

And this morning Clients with whom PFC have Contracts will be preparing to issue Contract Cancelation Notices as we speak....

IMHO