On 3rd July PFC announced that it was trading well ahead of expectations. Not surprisingly, sp jumped but has now fallen back pretty much to the same level as before the announcement.

While perhaps not as exciting as finding the next Cairn, remember that in the goldrush days, it was rarely the prospectors who made the money, but rather the suppliers of the spades and tents and stuff - e.g. Levis if memory serves me aright.

great performance today as with so many other stocks .... just a word of caution all round, as (trust me!) the world has suddenly not turned all rosy and a sharp correction, even if temporary, after these huge rises must surely be due soon.

Your not kidding -):

Nice little divi (2.44p) coming this Tuesday if I'm not mistaken.

Just out,

"Petrofac says director sells 1 mln shares, cutting stake to 0.61 pct
AFX

LONDON (Thomson Financial) - Petrofac PLC said its director Keith Roberts sold 1 mln shares in the company at 468 pence, cutting his stake to 2.12 mln shares or 0.61 pct.

Whoops spoke to soon, need to do a re-think now.

makes no real odds .... he still holds 2m shares anyway

yep. he only sold approx 1/3 of his holdings. cant blame him, just under 5 mil should secure his and his families future.
i wonder where he is going to invest it?
im still watching and looking for an opportunity to buy back in, still like the company, but hope this director sale aint similar to that of Vog's.
regards
jkd

how can you mention VOG and PFC in the same breath?

Cynic ta
so sorry, i agree with you, but at the time it didnt seem so improbable either,
who knows whats around the corner? not i, and thats for sure.
todays darlings are tomorrows heartaches.
best regards to you
jkd

PFC has quality and a track record behind it ...... buying at the current level is prob not wrong either though there is a chance it will come back a bit .... look at the chart on page 1

Nicely down 7.5p on non Company Oil news, and with some biggish trades in the auction there's a fair chance of the expected small ex. divi drop tomorrow to be short. In and out with divi and no capital loss is the idea.

PFC is one of only 3-4 stocks that i expect to hold long term .... another is assuredly SCHE

Only long time holds that I've got are short term trades that went wrong -):

Out +8 and +5 with the divi already banked...nice share to trade this one ie No stamp Duty and a less risky sector at the moment IMHO.

Another solid performer this morning.

Something's up. Spiked up to 530 for a while and now returning to around 500 mark. News leaked ?

think that 530 mark was a freak of some kind - no news

good to see sp now galloping into new all-time high ground

Contract win announced this morning: http://www.moneyam.com/action/news/showArticle?id=2463156

No real price reaction so far at around 497p.

Cynic,
Know there are some in posts further down in the thread but can you put a chart in the header please? saves flicking back when time is important , thanks.

if you go to page 1, you'll find a pretty good chart there ..... if you would like something else, let me know

an excellent trading update ...... yet again!

Petrofac Ltd, the oil and gas services provider, said it expects net profit for the full year to exceed market expectations.

The buoyant oil market has boosted the group's order backlog which is expected to reach 4.4 bln usd at end-December, up from 4.2 bln usd a year ago.

'The board anticipates that .... net profit for 2007 will be ahead of the top end of current market expectations,' Petrofac said in a trading statement.

Analysts had expected net profit of between 155.4-173 mln usd.

Both the company's key Engineering & Construction and Operations Services divisions achieved steady growth in revenue and net margins, with their full year order backlog expected to total 2.5 bln usd and 1.9 bln usd, respectively.

The Operations Services unit assumed full turnkey responsibility for Dubai Petroleum's offshore oil and gas assets in April. This is the division's largest contract and is proceeding 'positively and in accordance with expectations,' Petrofac said.

The Energy Developments division delivered a strong performance in 2007 and has been active on a number of projects.

The Cendor field in Malaysia is expected to have produced an average of over 14,000 barrels of oil per day and has benefited from high oil prices, while the Chergui field in Tunisia is expected to be on stream in the first quarter of 2008.

'We are performing well on our contract portfolio and with the new awards secured during the year, the commencement of the Dubai Petroleum contract, a buoyant outlook in terms of business development opportunities in our core markets and the anticipated start-up of Chergui; we expect another year of strong growth in 2008,' said chief executive Ayman Asfari.