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.

Wish KENZ would move .

in what has become a sea of red, PFC (and HAWK) stands out like a welcoming beacon ..... volume at this juncture is unexceptional, though there may be some incomplete significant buys to be logged ..... rationalisation suggests possible t/o approach, but that may be more my wishful thinking

I think PFC produces as well though that is not it's main source of income !

PS ; doing rather well !

I am holding for the bid...750p anyone.

I am holding for the bid....750p..?

volume still not showing as exceptional, but sp movement sure am very tasty! .... no news either, though if there is any, that could come after hours

Watching this since early this morning and the price has just kept rising through out the day..if a bid is on its way I belive it will be for at least 750p even 900p.

no idea .... a company is worth what someone else is prepared to pay .... slightly easier with a real company rather than a proprietray one, but true nevertheless ..... of course, it may just be somebody building a strategic stake without intend to make a full bid ..... no doubt there will some announcement, even if the usual "know no reason"

A "Know no reason" would be fine..

it seems that the bid for Expro is to be contested ..... it is likely that that influenced friday's move with PFC - i.e. its perceived value has increased - even so, volumes were about double norm, so just conceivably there is something interesting in the offing

PFC doing well today.

More living expensives -):

http://moneyam.uk-wire.com/cgi-bin/articles/200804231400149579S.html

SP. price not affected.

From today's Times:

Deal of the day
Ayman Asfari, chief executive of Petrofac, the builder of drilling rigs, revealed that he had sold shares worth 34.4 million at 615p each on Tuesday. The Syrian-born entrepreneur cashed in 56 million at the 2005 float. His stake comes down to 18.5 per cent of the company. Petrofac shares, buoyed by the record oil price, rose 3p to 620p.

unless i am much mistaken, UBS or similar put out a sell note a couple of days ago ...... not one their best calls was it!!

One of the more safer trading outfits are PFC.IMHO.

I see we are rising again.

Superb increase this morning !

Aye, however I feel someone knows something we don't. Let's see if anything surfaces.

OK, here is an update, courtesy of 'Bangers' on ADV...

Petrofac Ltd. (PFC LN) advanced 31 pence, or 4.9 percent, to 669. Goldman Sachs raised the U.K. oil services provider with projects in the Middle East, the North Sea and Kazakhstan to ``buy'' and added the stock to its ``conviction buy'' list.

``We believe Petrofac is very attractively positioned in its core businesses, and that it is 12 months away from a substantial lift in earnings from Energy Developments, a division that we see as undervalued,'' Goldman wrote in a research note dated June 6.