Member Info for Walttortoise

Thanks RB apreciate the reply. Onwards and upwards! :)

Hey Alto your advice is wasted when it comes to an old fart like me mate. I was merely asking whether along with the completely incomprehensible calculation you put up at the start of this post, you had noted the level of debt in the recent results publication and the need to service this debt. This will go some way to explaining what many believe shoud have been a more significat pick up over the last month or so. I take Paddy's point but prices can change rapidly as a result of external events and market/sector sentiment, not just the winning of contracts. Paddy also right in saying you buy, you sell, you make your own calls but dont whinge when it doesnt all come up roses!

Hmmm, a non answer I'm afraid Ant. We've watched this stock stagnate and fall disappointingly low for too long now hence my deliberations, should I stay or should I go. We've seen predictions of all sorts but the question for me is why this stock hasnt picked up a lot more than we're seeing. My own view that during increased tendering expected in this sector, interest rates are likely to continue to rise in an attempt to curb inflation. This wil be happening during the key times when Petrofac would be expected to deliver on projects whilst carrying a high debt burden as we noted in recent dispatches.

Alto, in these calculations you've displayed, do they account for inflation, cost of borrowing and management of debt? Same qusetion to the colonel in terms of looking forward to the week ahead, are things we just dont want to talk about?

Ian C I think most folk already gave you a C- for your schoolboy essays on Scottish independence. In terms of petofac the SNP are doing absolutely nothing to lobby the UK government, promote or re-inivigorate offshore oil production because of their general incompetence and self serving ties with the Scottish Greens.

I sulute you Ant if you've called it right on the low point, so will these institutions and the rest of us who stumped up the cash at 115 and bought fresh bait for our hooks! :)

Hey Ant you're a bt like a diver we've dropped off a boat saying you're at the bottom. We all hope you're right but the boat's still drifting.
As said yesterday I think the debt is the main issue. If anyone on the board pays Dun nad Bradsteet sunscription at their company you could maybe look up Petrofac's rating? This is a measure most customers/clents look at carefully before awarding contracts. If it looks OK for petrofac let us know, if not then maybe dont tell us!
We all knew this would take time but it's stating to remind me of going fishing with my old man. Waiting all day for a bite and getting colder mean time!! Good luck all.

Granted maybe too many eggs in the puding given the efforts of our teachers but I'll tell who's a puding, Sturgeon!
Where are the efforts to help with fishing or off shore oil indistry, Petrofac included? Disappeared in a self seeking coalition with the goody goody greens! :)

Thanks Ian-C for the short 3rd former essay on why Scotland should be independent, it's a dead duck! Scotland had the chance and didnt take it and now letting the rest of the UK down. The leaders have turned out to be self serving ineffectual muppets. Our health and education services are way inferior with no one being held to accountable, we have much higher tax than England and nothing to show for it and the longer it goes on the happier the tories are with the best divide and rule platform they've ever had. Scottish parliament vasty over budget and overpopulated, corrupt Island Ferries fiasco heading for massive overspend and diasterous for island ecomomies.
Bur re Petrofac :) ...as I said in an ealier post it comes down to ambition and intentions. The most poignant aspect of the results fo me is the level of debt. It's getting more difficult to servcice and also key facet when clents are assigning new contracts. Obviously a huge amount of tendering is underway but clients dont pay up front, they pay on delivery. Petrofac needs to find ways of financing the projects it tenders for and borrowing may also be an issue. A take-over might become the way forward.

Well well, wise after the event as ever Paddy. Asfari didnt blow the SFO away, the SFO issued a smaller than expected fine once theyd left it long enough for the trail to go cold on their friends/bosses in government who'd been lobbying ADNOC on behalf of pertofac at the time of the so called bribes. Some of us mugs coughed up the cash to pay the fine and I'll bet there wasnt a thanks to the shareholders who took up the rights issue along with the results? Nope and why would there be. It's now that same goverment lobbying, largely as a result Putin invading Ukraine which has re-opened the door at ADNOC.

Not quite agreeing as results do reflect performance and hence do have some bearing on future plans but I'm in broad agreement with colonel's considered view. Personally I'm looking for evidence of how ambitious Pertofac are right now. I agree with those who feel we should have seen a more significant shift given ADNOC news and events over the last month, Boris even lent a hand!. Looking back, there was a big emphasis on "pivot" towards renewables in the company's most recent dispatches and a pivot might not now be the best thing. This may go some way to explaining the lack of significant pick up given the ship needs to turn yet again. I dont want to make any predictions, this board is a graveyard for people doing just that! I did make a statement that things should be better in the new year when we were on a real downer though and I stand by it. I'm glad I'm still in and topping up along with others, we may yet feel the wind beneath our wings! :).

...we are. Actaully 35% up on where we were a year ago, 40 % up on where we were six months ago. Clearly generally on the up so in the words of the song time to look on the bright side ...always!

....and over 115 we go, from being back at penny share erlier this week but tinged with genuine sorrow for those displaced from their homes in Ukraine. Folk who have barely food and blankets never mind a share portfolio. :(

Agreed re petofac's role in a rapidly changing global picture. Challenges remain in funding debt and new projects, keeping in mind that oil compnies are paid at delivery stages when we talk about the vast amout of project activity out there.
In the mean time lets get over 115p so those of us who were feeling like mugs for taking up the 115p rights issue can feel so much better...:)

...you really are. Given your mention of your backside, I wish someone would take a cane to it a lash it endlessly! There are serious serious difficulties for the people in the Ukraine and all you can do is cry over your pitiful investmnt! You've lost bigtime becasue you didnt spread your risk over other stocks. Go away for good and leave us in peace!

I have a bottle of Ted Baker aftershave in the cabinet but I dont use it Q as it doesnt have the desired effect with my wife, she says it's awaful! If only you'd got out when we suggeted, you could have gone on Ted Baker and you'd be smelling of roses or indeed riding the crypto currency roller coaster. That's the real problem Q, you dont take good advice when offered and you've lost a load of cash as a result! Good luck going forward :)

Quetta we advised you to get out earlier this week at over £1.50? You're losing cash rapidly and you came in at too high a start point. In you're particular case you should have taken our advice and sold up!

Not a chance of me selling Denby, all I'm suggesting to Q is, if you cant stand the heat, get out of the kitchen!

Quetta we warned you re what was going to happen and as usual you didnt listen. You're losing cash with this amatuer unmanaged approach to your investment, as usual. You even failed to take your own advice and get out and onto something better.

I'm with you JG, what does tanking mean anyway?
At some point last year, which is now a long time ago, someone made the comment that the city dont like this stock. Bit of a sweeping statement but some truth in it at the time. You just need to look at the 5 year chart to see why some fund managers and brokers might have reached the point that they didnt like the stock, it having been one they'd previously have eyed for their portfolios. Things have changed though. The steep falls which occurred in 2017 when allegations fist emerged or the ADNOC announcement are well in the past. Us lot are small fish, microorgaisms even but signs are that brokers and fund managers are interested again hence I agree with you, we will see continued progeress.