Petrofac Limited

[BullDog]

Moderator Message:
Split off from here . - Chris

I don't see any RNS today. No idea what sent the shares down nearly 16% today. I don't hold but lost money buying at the "bargain" price of 400p. A once decent company seemingly destroyed. I had thought it would be bid for. But it seems the competition has played the long game and just picking off contracts that once would have dropped into PFC's lap now going elsewhere.

[daveh]

I don't see any RNS today. No idea what sent the shares down nearly 16% today. I don't hold but lost money buying at the "bargain" price of 400p. A once decent company seemingly destroyed. I had thought it would be bid for. But it seems the competition has played the long game and just picking off contracts that once would have dropped into PFC's lap now going elsewhere.

Same here. Bought at 400. Decided to sell when they were around 100, but thought they were worth and would get back to 150ish so was waiting for a higher price. Eventually sold out at 65 as it looked like it was just getting worse and I was wrong about them being worth more. Glad I'm out.

[BullDog]

I don't see any RNS today. No idea what sent the shares down nearly 16% today. I don't hold but lost money buying at the "bargain" price of 400p. A once decent company seemingly destroyed. I had thought it would be bid for. But it seems the competition has played the long game and just picking off contracts that once would have dropped into PFC's lap now going elsewhere.

Same here. Bought at 400. Decided to sell when they were around 100, but thought they were worth and would get back to 150ish so was waiting for a higher price. Eventually sold out at 65 as it looked like it was just getting worse and I was wrong about them being worth more. Glad I'm out.

Seems to be rumours about a capital raise from shareholders. If that's true they must be in dire straights. The competition are about to be rewarded for their patience it would seem. Someone will have to pick up the pieces of contracts if Petrofac does fail.

[Tedx]

Yep, move on. Don't look back (apart from today obvs )

....or go on to ADVFN, artificially inflate your losses by a factor of 10,000, lament your losses with other fellow mourners, then pop up 2 weeks later and spin a story about how you'd sold out of 'that dog' then reinvested in <insert name of dodgy penny share here> and made your money back and then some.

Then sit back and revel in your pretend genius and accolades from fellow shareholders.

Those were the days when I used to read words like 'deramp' and 'marketmakers shaking the tree'

Right, time to reinvest in a penny share. PFC looks like a good bet ....

[BullDog]

And now 22p...... still no apparent reason that is obvious to me.

[Bouleversee]

I and other members of my family are losing a lot of money (almost all of our stakes) in this company. I simply don't understand why they are not saying anything about this dramatic loss and the press isn't commenting either. I got the impression from various announcements in the past year or so that they had picked up quite a few valuable contracts.

[BullDog]

And now 22p...... still no apparent reason that is obvious to me.

And the rot continues. Still no news.

It's a jolly good job capital value doesn't matter......

[Bouleversee]

Thanks, Daveh. Sounds reasonably reassuring though still a long way to go before the s.p. gets back to what I paid. MY PFC shares are in ISAs and I don't get any info from the on-line brokers unless I am required to take some action. I can't see any way of signing up for such announcements on PFC's website. Is there any other way of getting them?

[Bouleversee]

I haven't received this directly but this is on PFC's website today:

https://www.petrofac.com/media/news/tra ... mber-2023/

Sounds somewhat reassuring but still a long way to go before the s.p. gets anywhere near what I paid quite a long time ago.

[daveh]

Thanks, Daveh. Sounds reasonably reassuring though still a long way to go before the s.p. gets back to what I paid. MY PFC shares are in ISAs and I don't get any info from the on-line brokers unless I am required to take some action. I can't see any way of signing up for such announcements on PFC's website. Is there any other way of getting them?

I'm using https://www.investegate.co.uk/ and have set up a list so theoretically the announcements on my list are emailed to me. But I used my work email to do it (as that was all I had at the time) and the emails aren't getting through. I should just go and change the email address but can't be bothered. I just log on to investegate every morning and view announcements filtered by mylist.

[Bouleversee]

Thanks again. I'm afraid I don't have time to do that but I'll contact Investigate direct.

[Rhinocol]

This is one for the gamblers and Dell boys. If you look at the London South East website forum the rampers / de rampers are always at each others throat predicting gloom or the next" 10 bagger" if you follow my drift.

[Rhinocol]

Bouleversee, I use the London S outh East website and have this on my watchlist with them. The forum section is always alive with chatter and updates .See my earlier post today on the Fools other PFC discussion. Maybe the moderators can pull these 2 threads into 1.

[Bouleversee]

Bouleversee, I use the London S outh East website and have this on my watchlist with them. The forum section is always alive with chatter and updates .See my earlier post today on the Fools other PFC discussion. Maybe the moderators can pull these 2 threads into 1.

I'll continue on the other one before I get a ticking off.

[Bouleversee]

This is one for the gamblers and Dell boys. If you look at the London South East website forum the rampers / de rampers are always at each others throat predicting gloom or the next" 10 bagger" if you follow my drift.

I've been watching the ADVFN forum on this and it's a waste of time, just a lot of self-serving, repetitive obscene comments from people I wouldn't trust an inch so can't be bothered with it. All I want is information from the company and any reliable press comments, plus anything on here which our mods have let through. I know they or other members wouldn't stand for obscene rubbish. I should have liked to listen to the conference call but by the time I heard about it it was too late. I am just sitting on my hands and hoping for the best. I haven't seen any explanation from the company as to why they have allowed this predicament to arise.

[kempiejon]

I've been watching the ADVFN forum on this and it's a waste of time, just a lot of self-serving, repetitive obscene comments from people I wouldn't trust an inch so can't be bothered with it.

First time on ADVFN? I've not visited for years but that was my experience.

All I want is information from the company and any reliable press comments, plus anything on here which our mods have let through. I know they or other members wouldn't stand for obscene rubbish. I should have liked to listen to the conference call but by the time I heard about it it was too late. I am just sitting on my hands and hoping for the best. I haven't seen any explanation from the company as to why they have allowed this predicament to arise.

You might get over whelmed but there is a sign up here https://www.petrofac.com/investors/regulatory-news/
actually here https://www.petrofac.com/investors/regu ... ews-alert/

[Bouleversee]

Thanks, Kempiejohn, but who is Euroland and why do they need my phone number? How I hate cookies! Edit: I can't think I missed that info. I combed the PFC site under Investors twice looking for an option to sign up for announcements

[kempiejon]

Sorry, no idea, why they want ta number - could you invent one? Euroland I guess are who Petrofac farm the job out to. No idea about cookies either I'm afraid.

[spiderbill]

I was checking dividend forecasts today. I know Sharecast have been a little odd with their forecast yields in the last couple of months but this one is straight out of the Oink Oink Flap dept - they're suggesting that Petrofac will have a 3.3% yield this year!?

Odd increase in the share price today - up nearly 13% - and no-one seems to know why. I doubt the two things are connected though

cheers
Spiderbill (a mere 96% down on them)

[Bouleversee]

I was checking dividend forecasts today. I know Sharecast have been a little odd with their forecast yields in the last couple of months but this one is straight out of the Oink Oink Flap dept - they're suggesting that Petrofac will have a 3.3% yield this year!?

Odd increase in the share price today - up nearly 13% - and no-one seems to know why. I doubt the two things are connected though

cheers
Spiderbill (a mere 96% down on them)

3.3% of what, though?

I have a similar % loss to yours on an unusually large (for me) investment, having topped up several times, again unusual for me (can't remember what inspired me to do that) and inherited my husband's similar sized holding. I just hope today's rise is indicative of better things to come. The PFC management isn't very forthcoming, is it?