Member Info for worraps

Two posters on ADVFN, herman007, and che7win, have both received confirmation from TXP and PB himself, that there is no placing planned. PB is said to have come across as buoyant during the contact that was made.

Yes, $2.48 = 147p. Currently. Just 10 minutes to close.

Yes, I agree. But I still see it as a sign of activity and anticipated growth in the sector.

https://www.offshore-energy.biz/petrofac-extends-contract-with-enermech-by-three-years/

https://www.marketscreener.com/quote/stock/PETROFAC-LIMITED-4005555/news/Petrofac-Continuing-to-support-communities-affected-by-Oman-s-Cyclone-Shaheen-37100200/

The Moneyweek article was originally posted by wallywoo on another board. So thanks to him, I brought it over here.
I’ll be very pleased when the share price shenanigans sorts itself out, and ADNOC welcome Petrofac back!

Scroll down to find the write up about Petrofac. About 2/3 down. A very good summary.

https://moneyweek.com/investments/investment-strategy/value-investing/604021/andrew-hunt-a-great-time-to-be-a-value-investor?amp

“long term £2”……..make that short term £2.

How short sighted of those aggrieved investors. Instead of lining those lawyer’s pockets for what could take years and end in no gain, if they put that money into Petrofac now, at this crazy low price, they could actually make big gains instead!

Yes, you're right, DB. The only problem is, the drills aren't doing much talking, and neither are the pipelines that are the result of previous drill talks!

Yes, the institutions will be quick to grab them at that price. And to think 200p a share was being forecasted !!

I cannot believe the fund raise is at only 120p! That’s less than the price before the SFO court case verdict.

https://news.sky.com/story/petrofac-in-180m-cash-call-to-fund-sfo-bribery-settlement-12444559

Actually, the final Canada figure was $1.85 = 108.6p = 14.75% drop. Happened very suddenly. Just as I thought we were entering exciting days with Royston testing! TXP never fails to surprise, and I don’t want another Chinook surprise!

I bought two lots today, and they both went through as sells

Yes, Warthog4, it's enough to make me think the whole market and it's accomplices are totally rigged. I think it's despicable that a company can go through four years of hell, do the right and humble thing by pleading guilty to the relatively minor misdeed of failing to prevent bribery, and yet a supposedly respectable publication such as the Financial Times, comes along and writes garbage like that! Petrofac have completely sterilised the company, any doubtful employees have been got rid of, they have paid a big price already, and yet they are still to be plagued by being labelled as disreputable.

The Financial Times should hang it's head in shame! Petrofac are going forward as a completely different company, and can hold their heads high!

So, even the FT are clinging on to something that is now resolved and concluded. They pleaded guilty to get the SFO to conclude the case, and get a lighter sentence. The whole company has been overhauled and revised, and any corrupt employees are long gone. Any lingering suspicions about Asfari will be closely monitored, and once things are stable he may quietly go anyway.

Petrofac are a different company now, they have paid the price for any wrongdoing. If they were dirty, they are now clean. The FT need to move on!

It has been officially declared that any continuing investigation is not into the affairs of Petrofac. It is into long gone, no longer employed, previous, employees. As Petrofac's case is now officially concluded, finished, over, done with, they will not be investigated in any way from now on. Have you got that now, silly Snapper10?

You are seriously making a fool of yourself, cluttering up the board with nonsense. Treating other posters as fools. Back on the filter for you!

I have had a reply from a Libby Bundock at IR Petrofac this morning. It reads:- "As stated in our RNS, the penalty concludes the Serious Fraud Office's investigation into the company. The SFO can continue to investigate relevant individuals, however none of these work for Petrofac."

Once again, directly confirmed from Petrofac themselves, the investigation is OVER!

Yes, I contacted the SFO too today. But in their general information about enquiries, I think it said replies can take up to
20 days! So I won't hold my breath. I haven't heard back from Petrofac either yet. But another poster who emailed the head of Investor Relations did get a reply confirming the case was definately concluded, and the issue would be clarified, or words to that effect. So, I wouldn't be surprised if we get another RNS sooner or later, or maybe some sort of confirmation and clarity in the half year results which are due any time this month.
I feel that there are many games being played at the moment, caused by somewhat of a surprise verdict and penalty. Unexpectedly lenient. It has taken the market by surprise somewhat, and I think we are seeing a lot of investors trying to sort their financial mess out.
I'm expecting things to settle soon, and be back on an upwards trajectory.