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.

"Among fallers, Petrofac lost 38.5p to 527.5p, as Merrill Lynch said its 2007 results were broadly in line but margins disappointed. Earlier, Ayman Asfari, CEO of the company, said the oil services group has not received any takeover approach."

Down 6.8% on treble the volume, seems overdone but agree with positive comments could be a very profitable recovery play...no stamp duty on this one of course.

LONDON (Thomson Financial) - Oil services group Petrofac Ltd said it has won a 291 mln eur contract from Syria's Hayan Petroleum Co to construct a gas treatment plant at the Jihar oil field, near Palmyra in Syria.

The company said it expects to complete the project in the first quarter of 2011.

tfn.newsdesk@thomson.com man/vlb



thought this might have given sp a shot up the backside, i presume the market had already counted this in???
Only on watchlist, but need to do some research here...

maybe just a freak, but PFC has suddenly shot up 38p having been pretty dormant earlier in the day ..... nothing out even on Reuters

volume quite heavy at just over 2m against whole day average of aboput 1.5m ...... will be interesting to see close of trading

Broker upgrade possibly ?

COULD be almost anything, though ideally a t/o approach, which is certainly not impossible in that sector

looks like about 5m traded in the end, but as there was a UT of 1.5m, is that not almost like double counting?

Do you mean market maker to market maker....sorry no 2nd level !

UT is somehow related to auction prices at the beginning and end of trading .... no doubt someone here will clarify properly

Up again so far !

so incidentally is WG. which i hope i suggested yesterday and also bought myself

Really flying this now...all time high soon ?

how very strange .... PFC is up 2p today, while WSM has been hammered (-170) for no obvious reason that i can see, and even WG. is down 9.5p

third time lucky perhaps for PFC to break into new all-time high ground ..... having started this thread, obviously i am a fan, so not entirely objective ..... however, very good to see sp continuing to tick up gently this morning .... i guess it's not impossible that a predator is sniffing, but don't buy on that basis

By the look of the chart we could have a spike up to just above the 600p mark !

annoyingly, sp still having probs holding above the 580 level, but this is one of my fave stocks and will hold

6 level here we come !

600 per se is unimportant apart from presenting the usual "round number" barrier .... sp is already in new high ground, and thus in uncharted territory.

for that matter, so is PMO which i would also bring to everyone's attention (again!)

Well cynic..!, PFC...TLW...JKX...DGO...all rocketing today !, quite incredible at the moment !

PFC only has peripheral connection to other 3 .... neither WG. or WSM, who are in the same field, have moved much

PFC has shot up (producer) and JKX also...at the moment banging on the 500p barrier..(these levels always seem to be barriers or supports).