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.

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.

Have been watching this one, looks like a longer term winner

have updated the charts on page 1

my only (short term) concern is that sp is having trouble piercing and holding above 25/50 dma ..... but still a damn good stock for any portfolio

now that's what i call a break-out with impetus! ...... next Q to be asked is whether or not sp can forge through the all time high, which is exactly where sp currently sits

Really got some go this one, Robbie Burns been tipping this one for some time now.

so has this acerbic old fart! ..... confess Rabbi Burns (anglicised Berenowski) is unknown to me, except as a learned contributor to the debates within the Talmud.

don't know why the marker line i put in has moved .... was actually set at about 531 which was the old all-time high ..... that potential resistance has now been well and truly exploded!

new contract

Robbie Burns see www.nakedtrader.co.uk, well worth a read as he has loads of
experience.

so do i .... especially in how to make a small fortune (from a large one)

i am currently neutral to slightly o'weight here, but am very tempted to add ..... if you want to wait for a bad day or two before buying then look for a level of 515/530 .... chart shows why

i should have done, but that would have been quite greedy ...... this one is flying, probably just through the realisation that this top class company is almost certain to pick up swathes more business as (more) marginal wells become economic once more .... or just possibly, though unlikely, someone has targetted PFC for t/o

Me too. Always the way when there's momentum behind it - but probably still cheap.

when i bought at 519 i was already slightly o'weight, so buying more is a questionable move

From the Sunday Times article, 25 Ways to make a profit:

"While many analysts think the surge above $100 will be shortlived, oil company projections are still based on crude at $50 � and some small exploration firms look to be a particularly good bet... Gavin Oldham at The Share Centre, a stockbroker, backs Petrofac which designs, builds and operates oil and gas facilities."

Full article (which also includes reference to Aminex, as already posted on that thread):
25 Ways to Make a Profit - from The Sunday Times

Why the big drop today ?

downgrade by Merrill ...... if you are a fan of this company, then this is arguably a good time to buy ..... risk is in the general market conditions