Member Info for wolfhound

Better still write to Boris and Rishi Sunak and tell them it is time to drain the swamp - starting with the incompetent SFO

I am hoping for a nice bounce in sp, an upbeat statement from the CEO re pipeline wins and i think we will start to move higher , several weeks in and the prosecution (SFO) are still fishing and will soon need to explain why they dropped case against founders of Unaoil but continuing to go after small fish.

Alto- the one thing that always seems to predicate a DPA is a charge against the company - and no charge has been laid against PFC - cos two years in and SFO have ..."sfa" and hence are on a fishing trip and it seems it is leaks to the Guardian gets used to sling the mud and hope some sticks ( with HF managinging to decide to short the stock before news breaks), SFO really do not seem to care about holding the moral high ground in how they go about things and nor will they until such time as they are held to account. Time for Boris to drain the swamp

PC - cheers I read their website aas thier own propaganda machine but worth noting the wording.....
Per website :
"These offences relate to the making of corrupt offers....."
I am not entirely sure they have proven that they were made based on that wording.... not that that stopped them regurgitating Lufkins admission and may also explain why more than a year has passed and no date set for sentencing....... clearly he hasn't offered up any tangible evidence that they can corroborate IMHO

I beleive what they are trying to do is create a "chain of evidence" by having the former Unaoil employees convicted......

The twist here that may come back to bite them is that they have dropped charges against Unaoil founders.....(go figure - did someone have a word in their shell like?)

So lets see where the defence team go with the fact they dropped the case against Unaoil- a dismissal, a put up or shut up demand...... who knows

Suspecting it and proving it are two very different things as the SFO have been reminded embarrassingly too many times.

As reported in the Guardian 1 yr ago ( Feb 19) , and as far as I am aware - SFO accused posthumously the deceased former president Maroun Semann in court filings im Feb 2019 at the time of Lutkin case, accusing him of taking part in scheme to award oil contracts

Per the guardian article Lufkin "admitted offering to make corrupt payments to try" to secure contracts .....

the subtely of the wording.... "offering to make' , indicates intent but not follow through...... the Unaoil case is their holy grail, fail and SFO might be looking for new jobs... if Boris does a Donald :)

I suspect the contract win will not have escaped the bulls and the more the shorters attack the more interesting the recovery play to bulls - a potential epic battle ahead me thinks :)

I am taking a longer term view, lets see where we are in say 6 months time, hopefully with a few more wins like this under the belt and this former empliyees of unaoil trial done and dusted. I can see this break up through the resistemce levels of 380, 400 and 460 (approx) and onwatd starting with results announcement in coming weeks. GLA

and so begins the fightback,

Very positive.... in effect calling the bottom....... regardless of the reason this is the sentiment

Polar just about halved their short to a new level of 0.5%.... a drop of 0.67%.... overalll pfc short now at 4.7%

...maybe they think sfo have heard you ... :)

Hi Warthog......I don't believe there is anything stopping PFC bidding for the necessary repair work..... I suspect Saudi will have higher priority than SFO to get things back on line once the scale is known.....PFC given its expertise is likely to be in high demand...

...either way assuming the issues are fairly substancial ( given fires etc...) I would suspect that this will be big fee repair work and capacity in the system will be removed...with all the positives that can bring...let alobe those from a rising oil price due to uncertainty....

Hey BN56, ...... you kniw how it is....the excitement of it all...........just waiting for Lisa to HTFU ??
...or I might be travelling

.Thanks for the link Hey_Arnold...very interesting......my take for what it is worth........sound like the ground work is being framed for some closure of unwinnable cases....watch this space

Sales up, profits up, debt paid down........

An approach by a predator is IMHO a strong possisble now that financial results have shown resilience and improvement despite SFO attention of last 2.5 yrs with little if anything to show for it..... a healthy premium to sp could be offered and still they would be getting it cheap

Clearly there was one self proclaimed bad apple -Lufkin, SFO in two years have not been able to find any others and have likewise dropped case against the 3 Unaoil family members. They sound just move forward to sentencing Lufkin and close this fiasco.
The sooner they admit same and draw a line under this fiasco the better it will be for them, they must be threading very close to a lawsuit by investors where they have caused loss or potential paper losses by their negligence in closing this matter in a timely fashion. If one or two big institutional investors were to instruct their solicitors to set the wheels in motion it might just focus the idiots at SFO to either put up or shut up.... nice strategy for a big player.

Interesting to note that post RR 3 staff being found guilty in Nov 2017 and arrival of new head of SFO in Aug 2018 - RR payed a fine (believe it is called a DSA) case against RR dropped in Feb 2019.....

With Unaoil's 3 Ashani investigation now being dropped, Lufkin having plead guilty more than 6 months ago........
....want this space for a SFO announcement of dropping case .... maybe on a big news day ...boris as pm, general election call, brexit delayed again....etc......take your pick

Lufkin is now a side show and a spent force in many respects.....

SFO has allegedly dropped the charges against the Asantis - without comment. So make of it what you will - either they had nothing and anything Lufkin had said didn't stack, on the flip side some very senior recepients were named with clise ties to ruling elite in a certain part of middle east and that was going to be politically embarrasing so SFO were informed it would be in their best interests to drop it....... and they did, either way just a case of waiting ut out now til this goes away.......

Lufkin could already have a new identity for all we know.... but for more than 6 months to have passed without sentencing says it all.... IMHO

Guessing as PFC are net debt positive.....nothing for Moody's ...who rate debt......

News about to break I wonder?

...and directors buying....news afoot ?