Member Info for Warthog4

Fri, 12th Apr 2019 08:43

** Brokerage RBC says oil field services co Petrofac's strong backlog, award of material contracts starting this year could lift its estimates and confidence

** RBC raises PT to 640p from 630p, maintains "sector perform" rating

** Says PFC's cautious outlook weighs on 2020 expectations and sees Q2 as an important quarter for contract awards

** Petrofac provided cautious growth outlook as some customers are undertaking greater diligence following an investigation from Serious Fraud Office

** Broker says it expect an ongoing investigation by Britain's SFO to take some time, and anticipates a resolution with no findings of wrong-doing to materially boost co's share price

** RBC says management highlighted a higher degree of uncertainty in winning contracts in 2019 due to SFO announcement , that a former employee had admitted offences contrary to the UK Bribery Act 2010

** So far this year, PFC gained ~10 pct in line with the ~11 pct rise in the FTSE350 Oil & Gas Index (Reporting By Geetha Panchaksharam)

Para 4 sounds promising.

Belhus.
Trying to obtain responses from anybody at Pampisford is a waste of time. Parker is not even talking to the Institutions as it was trumpeted when he first came on board, so you as a mere SI, like the rest of us, stands no chance of the courtesy of a reply.
An AIM BoD-says it all.

I was just about to have a mental bitch about the strengthening pound vis a vis our upcoming divi. when I had a look at last year's exchange rate which was $1.3658 as against today's rate of around $1.30. It is about another three weeks before Petrofac announce the rate to be used so I suppose anything can happen to the rate in view of the ongoing Brexit debacle.

On ex-div day, 5.4.18, the sp dropped by only 5p against the 19p divi due the following month, but by 21st May had climbed nearly 14% to 552p. In view of the rather chequered fortunes of the company over the last several months I doubt that will happen again.
We shall see.

C'mon chaps-calm down-slagging each other off in the middle of the night achieves nothing apart from raising already Brexit ravaged blood pressure even further.
Also please do not slag off Lincoln-it has a a magnificent Cathedral which is one heck of a climb "Uphill" from the main part of the town, and is surrounded by buildings steeped in history, including the newly renovated Castle which houses Magna Charta. The views from the ramparts are quite stunning.

Petrofac shares closed 0.4% higher on Friday "at 502.23 pence each".?
Presumably this is based upon the numerous after hours sales? The last pre-closing sale was 515.00 or thereabouts.
Today's opening SP should be interesting

Wild assumption JonBell-have never shorted in my life.
You obviously get upset and bored very easily-pity 'cos most of your posts
seem quite sensible.

Mmmm. Why did the SP slump 6% I wonder (couldn't access the link provided)

Yes, why has Gosden waited over a month since the Annual Report was issued to write such a damning article.(I haven't seen it so can only rely on your assessment MarkBell)
Perhaps her chums in the City have told her the SP is getting far too high??

The other aspect which puzzles me is as the Annual Report mentions the SFO impact 29 times then why, on page 198 do they state quite clearly:-
"The SFO investigation is ongoing. The existence of any possible future financial obligations (such as fines or
penalties), or other consequences, is unable to be determined at this time"
"IS UNABLE TO BE DETERMINED AT THIS TIME" so why are we now being lambasted with a doom and gloom scenario based surely on pure speculation.

Petrofac seem to enjoy shooting themselves in the foot (remember the Feb.2018 RNS which kicked the SP into touch??)

The technical achievements of Tim and his colleague are not disputed but they have brought on board three others who seem to be sitting on their hands, especially Parker who arrived with a fanfare of trumpets,and is costing us £55k per annum and for what I ask (again)
As for the 2 other NED's they came with glowing credentials but what exactly are they doing/supposed to be doing and at what cost?
In the absence of tangible proof that these three are "producing" or are going to produce and start earning their (our) money then I stand by my label of "pathetic"

Nice hike to 85 then usual swoop back to 71.Always jam tomorrow except tomorrow never comes

This really is becoming a pathetic ongoing farce aided and abetted by an equally pathetic BoD who seem incapable
of doing anything apart from hanging around Sierra's table hoping to hoover up a few crumbs.

Am I cynical?? Too right I am and will remains so until I see the BoD getting a grip on its PR and the company image.

Bobtree-what everybody is thinking but hasn't put into words.
Sierra never mention Sareum's involvement and surely this is what the BoD should now be working on big time, getting Sareum's name included in these reports rather than sitting on their backsides doing nothing but still collecting fat pay cheques.
I feel a letter to TM coming on although if his past performance is anything to go by it will be ignored

Spot on Utah. The market has seen so may of these "encouraging" RNS's over the years that they now produce little or
no improvement just temporary small rises.Cash is the mover.

Sierra down nearly 7% at one stage today before recovering to finish just under 4% down.
Bit fierce for one day-reasons???

Yep-somebody keeping it back.No prizes for guessing

Thanks Seawolf.
I still live in hope after 8 years but my patience wears a bit thin sometimes (like many other LTH's I suspect!!)

I see the Gaffer has spent half a million bucks on more shares.
Granted half a mill is tea money to him but still a step in the right direction

Hope so but SP just slumped by nearly 6%- 7538 to sell

"With so many adjustments and new measurements, full-year 2018 results did indeed appear messy, a view compounded by a reported loss of $7.6bn,........."
In reality it was $7.6m but let's not quibble over a few noughts.

I wonder if, at the next General Election, there will be cries of anger at the outcome and another march to demand a second bite at the cherry.
These folk just do not grasp the basics of democracy (what's left of it that is) do they?