Petrofac - new contract HPCL

[monabri]

21 March 2018

PETROFAC EXPANDS ACTIVITY IN INDIA WITH SECOND EPC CONTRACT IN 2018

Petrofac has been awarded a contract by Hindustan Petroleum Corporation Limited (HPCL) for its Sulphur Recovery Unit (SRU) Block Package for the Visakh Refinery Modernisation Project (VRMP), Visakhapatnam, Andhra Pradesh, India.

http://www.londonstockexchange.com/exch ... ml?lang=en


#nomorecontractsanymore

[Bouleversee]

Asfari has bought another £10m worth of shares. Up, up and away tomorrow.

[monabri]

I can only speculate why he is deciding to buy now! £10m is quite a chunk of change even for Asfari.

Is the Equador contract coming or is there the much rumoured bid?

[Bouleversee]

Or he might know that the SFO is dropping any charge so the s.p. should whizz back to somewhere round where it was before that blew up.

[Bouleversee]

Or he could be conning us to think that is the case so everyone piles in and the s.p. shoots up and then he sells. Quick way to make a few million. I wonder whose shares he bought. One would think everyone would be hanging on to them in view of recent increases.

[monabri]

I see that the CFO has also bought a few shares today (£116k approx). Not quite in the same league as Mr Asfari who had a "little top up" last week but it's encouraging to see director buys.

[Walrus]

Not sure this is a share I'd be selecting for my long term HYP. For me it definitely has value investing merits, but I'm trying to avoid using my HYP as a home for taking on pseudo trading positions so I will leave this one.