I believe oil services are about to enter the biggest downturn of the past 30 years and Mermaid will feel the full impact. And contrary to consensus, the oil price will not bounce back quickly. It could take years, according to Michael Hintz of CQS.
Schlumberger announced 9,000 job losses overnight, Woodside is about to slash capex, global E&P players are in retreat.
50c price target for MRM.
50c price target
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