Member Info for worraps

hTTps://www.marketscreener.com/quote/stock/PETROFAC-LIMITED-4005555/news/Petrofac-Dr-Khalid-Al-Jahwari-joins-Petrofac-as-Country-Manager-Oman-36253414/

Yes, it's a bit of a woolly area that I'm not really au fait with. But whatever the regulations are, I'm still getting the vibe that something is brewing.

Would that theory still apply due to the fact that PFC are registered in Jersey, who have their own self, independent government from the UK., and with their own different rules and regulations?

I couldn’t comment…..A nice rational summary of possibilities! There has to be an easing of SFO news release restrictions soon I would think.

Interactive Investor have yesterday down as the day for PFC's half yearly results, but nothing arrived. I think the quarterlies were delayed last time too.

I find that news regarding Schroders very interesting! They are obviously not short of confidence in the future of PFC!

https://www.sfo.gov.uk/2021/07/20/sfo-secures-two-dpas-with-companies-for-bribery-act-offences/
It was thought at the time that the two companies details didn't tally with what we know about PFC's case. I find the whole scenario surrounding the case quite baffling, and considering the massive impact these SFO cases have on companies, it's completely unacceptable for them to continue their investigations for four to five years. The damage caused by that time span is unjustified, and more than covers any punishment the SFO feels is due. And to not even update investors in the company of the latest situation and developments is also unacceptable.

The need by Snapper10 to repeatedly post news that is over four years old to try and create negativity, is pathetic.

Snapper10, you've just posted facts that have been fully known about, fully discussed, totally aired, since May 2017. Well over four years. Anyone who has PFC shares, or is about to buy PFC shares, would be fully aware of the company's circumstances. Therefore your posting such old news now is very suspect.

The charges against David Lufkin were first brought by the SFO on 12th May 2017. The share price has since dropped by nearly 90%. As far as I am concerned the market has more than punished the share price by far more than the SFO will punish the company. When matters are finally settled, which could be any day, I am anticipating a major recovery. The share price has become irrational.

Here's the link:- https://www.sfo.gov.uk/2021/07/20/sfo-secures-two-dpas-with-companies-for-bribery-act-offences/

Thanks for that bit of information, AD66. I can't help but be a bit nervous / excited, as PFC have waited so long for a resolution and conclusion.

Oh yes, any excuse!

No, still no mention of any September hearing. The 21st June hearing was always stated in the Lufkin/Petrofac update. All very odd.

hTTps://www.halliburton.com/en/about-us/press-release/petrofac-decisionspace-contract

As I have mentioned elsewhere, if there is a hearing in September, why is it not mentioned or listed in the schedules of the SFO, as the June 21st hearing was? Why have PFC not updated the market about the revised date in September, or an explanation of why it was deferred to September? It is so deafeningly quiet on the news front, I can't help but speculate that it is because there are things happening behind the scenes which have not yet concluded. I repeat, the supposed September hearing is not listed with the SFO as previous hearings were.

I totally agree with the previous posts. ALLEGED legal offences should have been my choice of words of course. The fact that Lufkin is the only named person who has been charged, and that four years or more has now elapsed without any charges being brought against PFC as a company, makes the whole affair totally scandalous. And accentuates my frustration and perplexity as to why shareholders are not being kept informed. I would have thought it would have been in the company's interests from a business point of view to do that.

I can't understand why something as serious as a SFO hearing, that has been adjourned / postponed yet again for another 3 months, isn't clarified or explained by either the SFO or PFC themselves. As far as I'm concerned, it is as consequential to the financial health of the company as a loss of contract, or the winning of a contract, and warrants an RNS to investors to update them on events. My only comfort is the fact that as both parties are so eerily quiet on how things are progressing, it might imply that talks to resolve the legal offences and consequences thereof, are being discreetly negotiated behind the scenes.

A comforting little message from the directors I think?

Canada closed at $1.33 cad / 77p UK. It’s becoming insane!