Member Info for YorkshireBlues

No worries Janbo. Hopefully they'll reduce soon.

Link please Janbo?

I think so too. Fingers crossed.

Hopefully others will follow Ducati

Small reduction in shorts.

taking the **** isn't adding balance eurofil. give it a rest.

I've found if you ignore trolls they tend to disappear all by themselves.

We should see a shorts reduction COP tomorrow. 1.2m seemingly bought back FrIday evening. Curious thing to do if shorters are are anticipating a D4E.

900k bought at the end of play today.

Not a massive amount but always a good sign.

With the level of debt IAG has let's hope the noises coming from across the pond regarding rate cuts come to fruition.

Still holding for £2.50!

Snapper, what needs to be reported to the SFO is how shorters began piling in to PFC last October in record numbers without any shred of inormation from the company that they were in financial difficulty. In fact just the opposite. The RNS in July indicated that 2023 would be broadly cash neutral.

A bit of both but still afloat (just).

Pointless debate. Anyone who believes the risk reward is worth remaining invested is still invested and those who do not have long since sold. In a few weeks/months we'll all know who was right and who was wrong.

In terms of tangible assets Petrofac doesn't possess a huge deal but it's value lies in its ability to deliver expertise, guidance and consultancy on major projects in the energy sector from concept to completion. That's why they have a pipeline of over 8bn in contracts. They've had a tough few years due to self inflicted wounds, bad luck and the pandemic. If they can get through this existential crisis then there is potentially a very profitable business. Just remains to be seen though if they'll survive.

They have assets including PM304 based in Malaysia which they're looking to flog. A sale could be finalised in Q3 2024 and should net the company approximately $2-300M.

But they haven't Snapper which means there is a reason why they haven't if they were able to do so.

It's a reasonably positive RNS suggesting debt holders have been provided assurances from PFC that there is a chance they'll get their money. Problem for shareholders is what kind of assurance has been provided and whether that involves a D4E. Additionally, I think talk of a takeover has also been put to bed unless someone makes a bid in the next few weeks.

GLA LTH!

Hope so Ivor. Fingers crossed they survive this.

"A spokesperson for the company declined to say whether Petrofac had missed a 16 June deadline for posting a performance guarantee that would secure a major contract. “Failure to do so… would have a detrimental impact on the liquidity of the group and the group’s ability to proceed with the financial restructure,” the company said on 31 May" - from Investor Chronicle today.

Surely, if they had missed the payments, this would need to be reported?