Member Info for Warthog4

If it wasn't for the SFO busybodies Petrofac would be well placed to bid for any remedial work needed in Saudi.
Government Depts. are a pain in the proverbial- a load of smug holier than thou parasites.

"blond buffoon".Possibly he is but would you prefer Comrade Corbo as PM and the erudite Abbott of Hackney as Home Secretary?
What a grisly prospect

Bit of a savage week for the SP especially today.
Anyone have any idea why

Well, that was a faint hope-down 3%!!

Brent up:
DJI up 373 points.
Let's hope we benefit.

Another Q. springs to mind. Did they carry out a Due Dili. exercise on Sierra before they
jumped into bed with them or was it a straw grasping exercise?

No doubt the AGM will be about the week before Christmas but I for one am quite happy to ditch the Christmas shopping for one day (the Memsahib will heave a sigh of relief-she HATES taking me shopping) and travel to see how these jokers try to bluff their way out of this one. ("This one" being appalling PR: ignoring shareholders who have posed legitimate questions: lack of info. on future strategy rather than just vague references to "seeking partners"). This is just a few I'm sure.

I reiterate
Civil Servants= zero accountability.
The National Audit Office rattles its sabre from time to time but nowt ever happens apart from incompetents being promoted to get them out of the way.
Try reading this to see how incompetence works in Government
https://www.taxpayersalliance.com/tpa_exposes_17bn_of_overruns_on_major_government_projects

This is YOUR money they are p.....g up the wall my friends

This was a part of a letter to a national newspaper a couple of years ago:-

"I do wish that the various regulatory bodies and indeed far too many journalists were not quite so gleeful when they impose massive fines on companies. They are not in fact punishing the company's directors and managers for misconduct or misfeasance they are actually punishing the shareholders including many pension funds and individuals.
There should be a more effective way for the Serious Fraud Office and other people to hold to account those individuals who are actually responsible rather than the corporate entity who they have brought down or will bring down because of the size of the fine. In reality, these fines are just another form of taxation by the Government."

Sums it up neatly I think.
Acknowledgements to the reader whoever he or she may have been.

at it again-sudden 7% fall. Grubby little ...........s

"This community – this extended criminal justice community – full well understands the nature of the destruction caused by those who defraud our citizens"
What about the nature of the gradual destruction of our share price due to the SFO's intransigent attitude

Bit of a hammering today-because of slump in the black stuff perhaps??

Celtic,
As Sareum seems to be a bit of a Mickey Mouse outfit the "Disney type finish" might just happen.

The concept of a "legal crime" is fascinating!!
On the back of the rather mediocre results, especially the stagnant order book, I have written to the SFO to register my total disquiet with the way they are p.....g about with this investigation.
Much good may it do me but if many of us did the same thing the knowledge that there are many thousand hacked off/angry shareholders might penetrate their thick skulls.

What a week though!!! Down at 374 at one stage and now at 418 although no doubt there will be the usual Friday afternoon retrenchment.
GLA-HAGW

'fraid not-usual retrenchment as soon as any improvement rears its head. The market has its claws into this company for reasons unknown, apart from the fact that Asfari doesn't play cricket dontcha know, what.(Joke by the way!)

"....And UBS's Amy Wong saw net debt coming in at roughly $1.0bn"
I will resist the temptation to make the obvious jokey comment, but she really did didn't she?

"SFO INVESTIGATION

No charges have been brought against Petrofac, or any officers or current employees. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate. We are focused on bringing this matter to closure as quickly as possible and believe this is in the best interests of all stakeholders."

Pity the SFO don't share their enthusiasm.

12 month low-the market obviously rather jaundiced about management probs. and the prospect of more of the integration problems with companies taken over that Aviva has suffered over the years, should the much rumoured merger with the Pru take place. Chaos will reign supreme

Agree completely.
Despite their feeble protestations they don't give a toss about us shareholders.
As I have said before they are civil servants, totally oblivious to the fact that beyond their luxurious offices there is a hard competitive world of which they have little or no experience.
High time for some draconian rules re accountability to be introduced but I suppose that will happen when hell freezes over.

Agreed,but consider the debt levels the company was carrying not so long ago (30.6.17-$1.1bn) compared with today