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12:11
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Originally posted by suzanmb
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It is hard to get a positive handle on todays action, the negative part of the announcement has been known since earlier this year. Low oil prices, forcing lower contract prices and lower utilisation of fleet, profits down as in all oil and gas related companies. However the company is still making profits all be it under tight conditions. EBITA of $75 to $85 million is very solid in these trying conditions. Very similar results last financial year showed a NPAT of $55 million. If one were to look at its peers, it out performs the market. Saci has posted that MRM traded at around .30c 04 - 05 before reaching $4.00. and this is true. However at this time MRM is the play toy of market manipulators, and in what is now the wild west, no rules, no holds bared market, regardless of what its real value is, they can and will make it any price they want.The up side is Oil prices will rise, the 4 to 5 new gas projects will be built in NW WA and eventually markets will rebalance. But no one wants to wait !! everyone wants it now. But for those who do wait, well we should know the answer, because we se it in he monthly charts. Look for yourself.
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I thought there update was ok and for a company to actually make money in this environment is not bad at all! I thought 40c was a bargain but at around 24c.. wow... I would not mind getting more but do not want to go to top heavy.
