Member Info for Warthog4

"I wonder if petrofac is found innocent and the SFO drop the case, would Petrofac have grounds to pursue legal damages against the SFO for impacting its credibility?"
The SFO's Boo Boo record is not good. Google "Serious Fraud Office blunders" for a good read. If such incompetence occurred in a Private Sector company the BoD would be sacked immediately. However this is the Civil Service where such sanctions are unknown.
As for Petrofac taking action I think it would be a surefire certainty. I don't think Asfari would take it on the chin nor would the Institutional Shareholders and Pension Funds who are down many hundreds of millions.
Consider also the fact that even if Petrofac came away unscathed it would take time to rebuild its order book.
I've written to Osofsky again today registering a formal complaint about the length of time their muckraking is taking.
Much good may it do me but one has to try

"....is a buying opportunity for those who believe......"
They must be few and far between now. I would not put another penny into this appallingly managed company which, IMO,
has an extremely fragile future.
No doubt one of the remaining optimists who use this BB will correct me in no uncertain terms.

Agreed. The big fly in the ointment is the falling backlog and as we all know this will not be resolved until the Civil Servants stop sodding around attempting to justify their increasingly fragile future.
Probably why the SP has been hammered this morning.

Agreed.Much as I would like to be a fly on the wall to witness any bloodletting,a 400 mile round trip on the offchance that there will be astounding revelations is just too much.
One favour though please. Can someone ask Parker what he actually does as a part timer to justify a fee of over £1,100 a week.
Ta!

....then back to 392 in a very short time!

".....for some reason interactive investor wouldn't let me sell when this was around 420 so got shafted between 403-407."
All a part of the City "Club" keeping the small investor in his place I'm afraid. Whichever way you look at it today's disgraceful and blatant price manipulation should be investigated by the FCA or whatever acronym they use nowadays.
Sorry, when what freezes over??

"If we can close in the 40x and hold that range......"
Already below 400 with 3+hours to go-as DogTyred correctly surmised b...dy shorters pulling the rug again.
'Tis the Season of good will etc."-not where they are concerned -a pox on all their Houses!!
(Apols.- feeling a bit liverish at present prob. as a result of writing a zillion Christmas Cards-the bonhomie starts to pall a little after the first 50)

One lives in hope but I suspect BoJo has more important fish to fry at the moment-I need not elaborate I'm sure

Nice rise to 420ish then usual gradual fall probably finishing up today back to where we started.
Few bods taking profits presumably but we are still under the cosh of SFO which in turn is hindering the acquisition of substantial new business

SP sliding rapidly now-down 24% since Monday open. Reality rearing its ugly head??

"Unles this is good news Wait for raise be .25 in a instance crap compnwy"
Pardon?

Glencore down by 9%. When the investigation into Petrofac was announced the SP fell, ultimately,by 62%!!

"........in order to remove the dead wood a week on Tuesday....."
RMT Union action permitting. Are they in cahoots with Parker do you think?

Now up 43% with about 2.5 hours to go.

Mmm not sure about Parker grasping my parts.
Brings to mind story-young boy swallows a pound coin in the street-crowd gathers-woman rushes forward- grabs young lad by the cojones- squeezes, squeezes and squeezes until the boy suddenly coughs mightily and the coin flies out.Crowd applauds and woman is asked if she is a Doctor-"No" she replies " I work for HMRC".
Oh suit yourselves- I thought it was amusing

So, five days after the fact and we are still at the level we sank to following publication of that little s....'s article-I despair of ever seeing again investors using their own judgement rather than listening to the outpourings of a second rate Fleet Street hack.

Sierra down 12%-what the devil is going on?

Parker Irrelevant?? Call me old fashioned if you like but when the shareholders are paying some bloke eleven hundred quid a week are they not entitled to expect some evidence that he is actually earning it or are they quite happy to see their money just disappearing down the drain?
On the other side of the coin as you say Coldfish Mitchell and Reader appointed Parker and should be giving him a jab where it hurts: it seems all three warrant our angst?

We've all been asking the same question since he was piped on board
to great acclaim. Just another company hopper picking up big bucks and then moving on to the next bunch of suckers.
Obviously good at selling himself but not the company he "works" for.

"Whichever way it goes i want the sar bod to make decisions based on pi's interests.."
Dream on my friend-they've forgotten we even exist, apart from as a source of chunky salaries etc. to be tapped as and when required.