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.

Contract wins http://www.moneyam.com/action/news/showArticle?id=5174059

Trading Update http://www.moneyam.com/action/news/showArticle?id=5174849

Petrofac's engineering, construction, operations & maintenance (ECOM) division has already logged orders of $8.8bn (£5.8bn) for the year. The company released a trading update on Tuesday ahead of its full year results due out in February next year, showing backlog in the division stood at record levels of US$18.5bn on 30 November 2015 and the company said operationally, its portfolio continues to perform in line with expectations.

Broker cuts it's price target.. for what it's worth -): http://www.moneyam.com/action/news/showArticle?id=5176162

Right Alf here's another question and I think you may be able to answer this one, is this a buy or sell?
http://www.moneyam.com/action/news/showArticle?id=5194017

i have kept a few in my sipp but sold those on cfd a couple of days back

Yes but what about the link.

your money, not mine
i've told you what i've done so draw your own conclusions ....... doubt i'ld be a new buyer in today's climate

I didn't ask you for your opinion as to a buy or sell for PFC just what the link stated I.E have they gone above or below that stated 6%.

What is up with you today? -):

sorry - they have increased their holding by 2m shares

thought you were asking whether PFC was a buy or a sell

That's all right.. your apologies are excepted -):

2M eh, interesting.

With PFC having interests in the Middle East, Operational centres in the UAE, with projects and support in Kuwait, Oman, Qatar, Saudi Arabia and Iraq is it feasible that they may feel it advantageous to venture into Iran now at some stage?

That Deutsche Bank purchase came before the Iran news of an agreement, I wonder if DB may have had a tip off.

Come on Alf your supposed be our Oil expert around here.. so what do you think about the above?

TTT for Alf.. now that he's finally crawled out of bed.

iran
it did cross my mind over w/e that PFC's expertise might well be in demand in iran
however, it will remain a very difficult place in which to trade/work for a good while yet, not least because iran will be very short of hard currency

personally, i am disinclined to buy into any stocks in the present climate, which i do not see improving much if at all during 2016

Thanks, Thats my thinking but with one caveat I did hear that Iran have a lot of money tied up abroad that was frozen.

So if that's true and that money can be released in an early timeframe then PFC might well be in there if the obvious difficulties become manageable.

But again I very much agree with your last sentence about the outlook for 2016, my only positive thought though was that purchase by D B.

safer haven is perhaps BATS or IMT

with regard to iran, i am talking to some contacts of mine to see what business we might be able to do there ..... however, even if we get the offer of any contracts, we'll certainly be making doubly sure that we will get paid

Absolutely, and that you can get out safely I would have thought.

Might be sensible to start with pro-forma terms before offering credit. Can't see any way of getting your money if they default in any way!

we're a leasing company, so much more tricky
selling is easy! ...... i've got it; you want it; give me the money and you can have it!

Back to my original point, DB buying 2m shares (I know it's small beer to them) but could that be that they may know something that the market does not?

Also I am assuming that PFC are nothing to do with leasing in Iran if indeed they did commit to doing work in that country?