Member Info for worraps

Having read through this SFO report, can anyone here explain why it’s thought that the case is likely to go kindly towards PFC? It seems to me that the sentencing hearing that was postponed to 21st June to be done instead as a Mention Hearing / Directions Hearing, is because of the change of circumstances due to the fact that Luftkin pleaded guilty to further charges? And therefore the case is likely to be ongoing after that?

I sincerely hope that I’m misconstruing this, as I’ve recently loaded up!

hTTps://www.sfo.gov.uk/cases/petrofac/

Sorry for triple posts to get it right, and it’s homebrewruss, that provided the link.

https://twitter.com/TouchstoneExp/status/1383060550033174528?s=19

hTTps://twitter.com/TouchstoneExp/status/1383060550033174528?s=19
Thanks to homebrewrush

Bully1985..........exactly! Canaccord Genuity are NOT saying it is a sell. Neither are any other brokers or analysists. There's a serious overreaction going on due to one blip, and the fear there may be others, which is what CG are alluding to. But, a target of 140p by them says it all for me. As you say....that's 62% higher (not 80%).

Mickey2, I feel it's more a case of the market FEARS that Cascadura Deep test is not going well. Rather than it actually is. The market thrives on fear and greed, as I said earlier. TXP shares are in fear mode at the moment as before that last RNS everyone thought that PB and his team and all the projects were 100% perfect. Nothing is I'm afraid.

tidd83, I totally agree. Those who have reviewed their assessments and risk profile of TXP seem to be omitting much of the ongoing positives that have already been established. Canaccord Genuity have today downgraded their views of things since the last RNS, and have now got TXP listed as a 'Speculative Buy (down from top pick), and price target of 140p (down from 185p). They have completely omitted that Coho is about to come onstream, and the Cascadura proof of concept. They describe the Chinook well test result as "disappointing and confusing", and go on to say that the result "confirmed geological complexities of this part of it's licence"

A very out of proportion and downbeat summary I feel. But then, I'm never sure if I'm wanting to feel that because of how much I am invested!

Agreed, aligator. Market manipulation at it's worst going on here. The news was really not as bad as a 50% drop! The bid is now 88p, down from 178p in February. Seriously crazy. It's like a vicious circle. Overinvested retail investors, many on extended settlement deals, go into panic and sell. Then others see all the sells, they also panic, and then they sell. Seriously a situation of follow the lemmings over the cliff top.

The overriding ruler of the markets these days is fear and greed. If we think we're onto a good thing, we get greedy and buy far too many as we get blinded by all the optimism and lack of emphasis on risk. And then, just one sign of things not going as we thought, and the fear kicks in, then panic, then selling. Rationality is destroyed, clear thinking seems impossible as we watch the share price plunge. Suddenly, all that optimism and euphoria about what wonderful prospects and riches we've got coming just disappear. The markets have become very oversensitive with the pendulum swinging wildly as the rampers and derampers take hold and command.

Along with all that going on, we've had the other two factors kicking the TXP share price. The IG Index debacle, and also the end of the tax year. I'm trying to stay rational, and hold on to the belief that just because Chinook was a blip, and a bit of a shock due to the consensus belief that PB and his team could do no wrong, it really is just a speed bump in the road. I cannot believe that all the remaining prospects will also be speed bumps. Plus, Coho is about to start producing lots of cash.

Yes, right down at $1.57 cad now, which is just 90p uk. It opened at $1.69 cad, which looked very cheery at the time.

hTTps://www.tradinghours.com/markets/tsx/holidays

Ditto!

sorry for double post, the first one went missing, then suddenly reappeared.

Thanks, homebrewruss, that link works fine. And well worth listening to!

Thanks, homebrewruss, that works fine. And well worth a listen I might add. Anyone hesitating whether to buy TXP today will have been greatly reassured and excited after hearing what PB had to say!

Sorry guys, I tried what usually works, but that didn't either! It's clickable on 'the other site', if anyone wants a read.

hTTps://www.***************************/touchstone-exploration-a-busy-year-with-plenty-of-upside-interview/412966908

hTTps;//www.proactiveinvestors.co.uk/pdf/create/news/details/943138

I noticed the same, j.w. I’ve mentioned it on the other site.

55018, yes you’re quite right. Just a breather before Chinook, Coho, etc. It’s just my exasperation at myself for getting over enthusiastic and buying a load at 172p. I can get carried away sometimes when I like something! But, in a few weeks I’m sure my current frustration will get blown away.