Member Info for Thunder2040

A few points for people that can't understand the share price dip. If it was valued at cash but a large portion of that was about to incur 32.5% dividend tax, you would sell it now before that happens. By not setting a tender price they have gone and undone what the tender was meant to do - stop shareholders selling to avoid the tax hit. Yes some PIs are holding in ISAs but IIs are not.

Second, they are hanging on to a big wadge of the cash, and have issued no guidance in earnings. They keep drilling dusters and are ploughing money into Egypt - we don't even know if there will be a return.

Well, looking at the net margins, they have imploded the past 4 or 5 years. Petrofac just made very little profit, so unless they sort the pipeline out and get the margin jacked up I think the market will continue to batter this. What is starting to **** me off is that the like of Schlumberger et al in America are all gunning it because the Americans back their energy industry, on the other hand in the country we cripple ours! The government needs to incentivise concrete energy production capacity ASAP - sick of them thinking they know best..look at our situation now with Russia!

Fool living up to their name, pretty sure the Abu Dhabi contract was 2020! But still, it is inconceivable that this is in a worse position than before settlement of the legal case - expect after results and people can see under the bonnet a re rate will ensue

If petrofac cannot thrive in the current oil price environment then it is done. Its fully funded, oil north of $130 and massive tilt to new energy plays is required - for the life of me do not understand why it has not rerated further, should be north of £2 now IMO

Following on from that article I have been wondering what could be defined as 'shortly' with respect to a fresh potential bid for the company being made. I note that management joined the suitor group around 20th Feb so they have been on board over 2 weeks. I anticipate the formulation of the projected pay off might take another week or so, so perhaps a bid might be made by the end of the month? As someone posted previously, I think results are due to be published and might have been pushed back, so it could be fairly imminent. In order to keep the newer investors happy who bought in after the initial 680p bid, I suspect the offer could be in the region of 800p. Anyone else got any thoughts? DYOR

Last part of my rant is, why didn't the directors buy back those shares that they sold when they were initially going to do a special dividend and sold for tax purposes...I mean if they are not putting the money back in why would we?

The problem with the business model and board is that they don't issue guidance, they don't communicate properly. They just expect people to trust them with their money and it will all come good in the end. I mean, they banged on about spending loads in Egypt, but neglect to say what the profit will be - please tell me I have overlooked something here.

I had a quick read this morning, but could not see that they had given any earnings guidance from continued operations for next year - have I missed something?

https://www.ft.com/content/58555630-ce2d-4fe5-9c79-7704de0ec94c

Cash bid in excess of 680p to be made shortly...make of that what you will

Share price just jumped 5% in the blink of an eye

Does beg the question why the hell did this sink below 600p - they bought that last 1m tranche at 640 odd.

I have had a very small nibble at this today, far smaller position than previously held but I think the change in energy dynamic and defence situation is going to lead to a lot more spending in many of James Fisher, Petrofac etcs key markets

https://www.reuters.com/business/russia-faces-major-disruptions-oil-commodities-flows-without-swift-2022-02-27/

I expect oil to hit well over $110 next week on the swift sanctions, you can't settle Russian oil purchases in the short term without a system of confirm - so we shall see, BP could finish the week a lot higher.

Smartie - are you capable of doing simple maths? Its already come down 16% from recent high after the FY results. Also its been widely covered by analysts who have said a $5 oil price increase covers the whole Rosneft dividends to BP in increased profits from other ops. If you don't think oil is going to go a lot higher tomorrow you must be mad!

Finally, congrats to all holders..great news on that front.

Yeah first and foremost this escalation is terrible news for the people of Ukraine and the world. Agree, this is like owning a sovereign bond so even if it does tank later bet off holding as its due to redeem

Bloomberg Law
https://news.bloomberglaw.com/tech-and-telecom-law/india-to-refund-taxes-to-cairn-vodafone-by-march-official-says

'The government will refund 79 billion rupees ($1b) to Cairn this month, Revenue Secretary Tarun Bajaj said in an interview Monday' published Feb. 7, 2022, 12:11 PM

Be under no illusions, the cash is incoming and with the current oil and gas price this is about to re rate considerably I feel. Gentlemen start you engines....

3 trading days left this month. It's the final countdown. I topped up again today so I am now very overweight Capricorn Energy- expecting the RNS to confirm receipt of Indian tax rebate imminently inline with what their finance minister announced that it would be settled end of the month..It is put your money where your mouth is time now! I can't wait to have a drink champagne and celebrate the end of this investment chapter. Good luck to all holders here, we need a final push of positivity to get us over the line now I feel.

Didnt even fill the form out properly! So we can't see the price paid. Also they have been sat on the form since 14th Feb, you are correct it does stink! At least we know that when they bid its getting accepted. I assume they will bid the same amount as the failed bidder did as well 680p

Just 4 trading days remain, or 6 days total for payment to be made, else its back to the courts for this lot...