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.

It looks more and more weakness coming very soon. SELL at 440p.

Closed at 380p today

true, but where will it open tomorrow? ..... a fair bit higher for sure, assuming Dow does indeed close to where it is as i write = 8837 = +304

it's very easy being the smartarse with hindsight (don't take that personally), but damn difficult working out exactly where one should buy/sell in real time

I really like this share. It does have big support around 380 ish but i've started feeling recently that the FTSE is just going for 3200 the low in2002 i think. Having said that, that is only a 20% fall from current levels so not that different.

More weakness occuring now...370p.

its quite expensive this share given current climate

This bloke don't think so GG -):


22 October 2008


Petrofac Limited
Director and Person Discharging Managerial Responsibility ('PDMR') Shareholding

In accordance with DTR 3.1.4, Petrofac Limited (the Company) was notified today that the following PDMR of the Company bought ordinary shares of US$0.025 each in the Company between 20 and 22 October 2008:


No. of shares bought
Total % of issued shares
bought
Average price per share
Total beneficial
holding following this notification
Total % holding of issued shares following this notification
Robin Pinchbeck
6,349
0.002%
3.9366
1,186,349
0.343%

...and there's more.

RNS Number : 9892G
Petrofac Limited
29 October 2008

Petrofac Limited

Directors/PDMR Shareholdings


In accordance with DTR 3.1.4, Petrofac Limited (the 'Company') was notified on 29 October 2008 that, Maroun Semaan, a director of the Company bought 500,000 ordinary shares of US$0.025 each in the Company on 28 and 29 October 2008 at an average price of 350.73 pence per share.

Following this notification, Mr Semaan currently has a beneficial interest in 30,568,799 shares, which represents 8.85% of the Company's issued share capital.

The Company has 345,434,858 shares in issue as at today's date and all shares have equal voting rights.

Contact for enquiries:

Mary Hitchon
Petrofac Limited
020 7811 4900

if i was brave (or stupid) i would buy PFC today on the basis that they have just landed yet another tasty contract but sp has dropped to it's year low at +/-330

cynic
no doubt about it, it is a good company.
i heard an interview on bloomberg last week discussing oil service companies in general.
it seems the worry is that with oil price currently low plus general market worries etc. many large projects are or may be cancelled/shelved/postponed, leading to surplus capacity being available. this in turn may lead to more aggressive competition along with both falling sales revenue and/or lower margins etc. these things generally take time to filter through and show themselves in results etc. maybe the market is just anticipating? as reflected by current share price.
i'm still fence sitting on this.i do come off it sometimes.
kind regards to you and all holders.
jkd

i am not a holder at the moment, but it is company that i follow ..... the concerns are correct but, along with a myriad of other quality companies, PFC is now probably undervalued

some others suddenly seem to think so too, with sp now +34

346p. A very nice low resistance level to rise from..especially when Opec cut their production levels again.

L&G slip below 5% holding today.

Good to see you interested here cyners.

Gone into these after viewing brokers reports over the last few days.

plenty of them issuing Buys and I suppose they cant all be wrong.

if I can lay my hands on the reports ILL post them.

More support for PFC...

Glance-STOCKS NEWS EUROPE-Amec falls with Wood Group; UBS downgrade
AFX


STOCKS NEWS Reuters Results diary

Stocks on the move Real-time Equity News



09:54GMT 17Dec2008-Amec falls with Wood Group; UBS downgrade

------------------------------------------------------------

Shares in Amec fall 3.7 percent reflecting oil services peer John

Wood Group's cautious trading update and after UBS cuts its rating for

Amec to 'neutral' from 'buy' on valuation grounds.

UBS says Amec has outperformed sharply since early October and acquisitions

moves are likely to be negative for the stock in the short term.

The broker says it prefers Wood Group and Petrofac to Amec.

UBS upgrades its rating for Petrofac to 'buy' from 'neutral' following a

site visit as it believe the risk of cost overruns for the group is lower than

it had previously assumed.

The broker also notes Petrofac shares have underperformed over the past few

months.

Petrofac shares lose 1.3 percent also impacted by the cautious Wood Group

statement. Wood Group shares are down 5.9 percent.

For more on Wood Group double click on

Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net

Solid update which reassures.....

RNS Number : 3514K
Petrofac Limited
18 December 2008









Thursday, 18 December 2008




PETROFAC LIMITED




TRADING UPDATE




Petrofac, the international oil & gas facilities service provider, issues the following pre-close trading update ahead of the announcement of its audited results for the year ending 31 December 2008, expected to be on 9 March 2009.




The group's good operational performance has continued in the second half of the year and the Board anticipates that, in the absence of unforeseen circumstances, the group's net profit for 2008 will be in line with current market expectations (see note below).




In the Engineering & Construction division the execution of projects in-hand is progressing well. Notwithstanding increased market uncertainty following the recent rapid fall in the oil price, the division's bidding activity continues at a high level. At the time of the group's Interim Results in August we referred to a bidding pipeline in excess of US$10 billion. Of these prospects, the division has secured a US$543 million contract with the Kuwait Oil Company for the engineering, procurement and construction of a gas pipeline to the Mina Al-Ahmadi refinery. All the other prospects referred to at the time of the Interim Results are still being actively pursued, as are a number of new bids. The outlook for the bidding pipeline for 2009 continues to be promising.




The Operations Services division continues to deliver sound operational performance across its portfolio of UKCS and international contracts although its financial performance has been impacted by the recent weakness of Sterling (with around three-quarters of the division's revenues being Sterling denominated) and slower than anticipated build-up in activity in some of the new training centres opened during the year. The acquisition of Eclipse Petroleum Technology Limited and Caltec Limited during the second half of the year has enhanced the group's ability to deliver solutions to customers to improve production, particularly for mature fields.




In the Energy Developments division, the Cendor field, offshore Peninsular Malaysia, has produced, on average, in excess of 14,000 barrels per day during the year to date. Development of the conceptual design work for the second phase of the Cendor field is progressing, with a final investment decision expected during the second half of 2009 and the recent appraisal drilling programme has yielded promising results. In Tunisia, the commercial export of gas from the Chergui gas plant commenced in August and the facility is now processing near its capacity of 20 million standard cubic feet per day (mmscfd). Work is underway to increase the capacity of the plant to 25 mmscfd. Significant progress was made during the year in developing the West Don and Don Southwest fields in the UK North Sea where first oil is expected to be achieved during the first half of 2009. The Northern Producer floating production facility is now on location and most of the subsea construction work has been completed. The development of the Don facilities is on budget and on schedule and the drilling programme has commenced with final completion operations underway on the first production well on West Don. As announced in April, the division has been evaluating taking a ten per cent equity interest in the Ebla development in Syria. After a thorough review of the opportunity the division has decided not to invest in the development.




As at 31 December 2008, total backlog is expected to be approximately US$4.0 billion (31 December 2007: US$4.4 billion) comprising approximately US$2.4 billion from the Engineering & Construction division (31 December 2007: US$2.5 billion) and approximately US$1.6 billion from the Operations Services division (31 December 2007: US$1.9 billion). The majority of the Operations Services division's backlog is denominated in Sterling and on a constant currency basis (at 31 December 2007 exchange rates) increased marginally to US$2.0 billion. The group expects its gross cash balances at the end of the year to be around US$600 million.



Ayman Asfari, group chief executive of Petrofac, commented:




'We are very pleased with the performance of the group over the year which has delivered record revenue and profits.




While we recognise that there will be some pressure on discretionary spending by some of our customers, our backlog gives us good revenue visibility. Furthermore, our Engineering & Construction division's focus on onshore developments in the Middle East and North Africa and our effective cost structure gives us a strong competitive position. This, together with the strength of our bidding pipeline, gives us confidence in the outlook for 2009 and beyond.




The group has a strong balance sheet and we are well positioned to take advantage of any opportunities that may arise from current market conditions.'







Note:

The current market expectations for Petrofacs net profit for the year ending 31 December 2008, referred to earlier in this announcement, are based on forecasts provided to Petrofac by 13 equity analysts since publication of the groups Interim Results in August 2008. The average of those forecasts is US$259.6 million.



Ends







Conference call




A telephone conference call for analysts will be held at 9am today (please contact Bell Pottinger for details).




For further information, please contact:




Petrofac Limited +44 (0) 20 7811 4900

a synopsis of the BUY recommendation in today's telegraph following yesterday's outstanding results ..... I have been out of these for a good while, but have just bought back in .....


Questor says BUY
managed to beat expectations in its full-year results ..... around 6pc ahead of consensus ....... Gross cash balances at the end of 2008 stood at $694.4m, an increase of $112.8m over the year ...... very little debt, which means its net cash position stands at $551.8m ..... net margins in 2009 would be in line with recent levels, implying margins of 9pc to 10pc.

The shares are trading on a 2009 prospective multiple of 7.8 times, falling to 6.3 times in 2010. This is historically very low and the shares will almost certainly be re-rated when the oil price eventually gets moving again.

The company expects to post further growth this year and the company's backlog has increased the certainty of earnings all the way out 2011.

PFC putting in another strong performance today on the back of yet another juicy contract landed ...... next challenge is 200 dma at 500 exactly, so almost a double hurdle ...... fingers crossed

Solid outfit in a liquid sector, what more can we ask?