Member Info for Swimmer2026

Lets focus on waiting for the refinancing deal to be announced. I doubt there is a buy out until the debt is stablised. I believe that the equity for debt swap price will be around the 30 pence mark. Re-opening trading today means that the BOD can say that everyone had a fair chance to take part.

If the bond holders can cooperate then at least they get something in return rather than receive nothing, so I still believe it is possible to have a positive outcome for all stakeholders. Remember there is a deal on offer. Better the listing stays closed until the deal is brokered in full.

Wood Group have an EV of 2.2B and a MC of 1.2B, Petrofac had an EV of 1B so potentially could justify a MC of ~400M. If half of the bonds (~300M) are converted to equity, that could leave a partial MC (for existing equity) of £100M which is ~20 pence per share, which would explain the level it had gone down to.. there is hope.

-The recovery analysis assumes that Petrofac would be reorganised as a going-concern (GC) in bankruptcy rather than liquidated. It mainly reflects Petrofac's strong market position, engineering capabilities, customer relationships and asset-light business model, following disposals in the integrated energy services division

Fitch expects this proposed debt restructuring would be implemented to avoid insolvency and would result in a material reduction in terms for creditors...

https://tinyurl.com/3yk8f536

I’m hoping for a re-open around 30-50p

Double bottom on the daily chart, should see short positions reduce now.

If ABDN try thinking they are smart and buy anything remotely bitcoin related i’m out before any stupid dividends get chance to land. Worlds gone mad.

£25 million spent on buying 5% of Boku a mobile payments system app. MC £550M. Turnover £80M. Profit £9M.

Not sure ABDN got a cheap buy in price.. unless I got it wrong.. maybe I am too old fashioned

Have just bought in small here first time, 1500 shares.. bailed out of EPL Enquest :(

Ed has got more important things to do like rip out our dual carriageway to build a single bottle neck allowing room for a green cycle track in Mexborough (Doncaster) thats his next major project as our MP, even though we all don’t want it. Its called levelling up.

The other major project we want Ed to sort out is our airport shut by Peel Holdings, they reported it unprofitable during the last ten years but really Peel are just closing shop to evade some other dodgy deals. The compulsory purchase money is in place but corrupt Donny council won’t release the cash until Labour win election making them look good.

Donny council should be placed under special measures to oversee the years of waste. Highly paid WFH wasters. Streets full of rubbish. Roads with potholes. Staff hiding behind emails and computer says no.

My interest has always been North Sea oil but the Energy Levy has taken the shine off that so just looking for alternative options. I hope nobody minds me joining in here with these low prices?

I got same exactly reply from James (IR) so added some more.

34p close??

Yes i saw that ftsefan, could be partial covering the shorts, either way it’s upwards pressure.

Rising from 31p, maybe 31p was the low point

Answer for Ed regarding short theory..

Borrowing 5% of the allocated shares is about 25M shares.

During a normal trading hour there is maybe only 100,000 shares available to be sold for cash.

After each 100,000 shares are flushed out the Market Makers move their own block say 3% lower.

Some longs (say another 25M) join the sell side which adds to the order book becoming exhausted.

25M or 50M shares being sold over a few weeks creates this situation.

That is how a 5% position can override the 90% who just sit there.

Snorters close on fridays to buy the cocacola

Thanks for your updates Ron, quietly reading and watching... going to saw some logs up (by hand), while the sun is out...

Keep laughing at me. there is something very wrong with the political direction and has been since tony blair, well even thatcher went too far getting police men to beat miners who just wanted to put dinner on the table. Gordon Brown spent £50B buying half of natwest that even now is only worth £20B. Don’t trust the governments with our money and effort. Look at how much each MP spends on an office, some spend like £4k a month. Crazy money grabbing control freaks who get everything wrong on purpose. Lockdown has made everything unaffordable and the ignored BREXIT completely even though half of europe wants out. EU has two parliaments and sends a train between each one to move the documents. Meanwhile Rushi is having meetings about AI and people are homeless and worried about heating costs, it’s beyond ridiculous.