More pain to be felt for the oil and gas service sector, page-8

I don't wish to appear to be hogging the agenda , however if you would indulge me once more , as I feel a couple of important facts need to enter the debate . The present share asset valuation , that is unencumbered assets is $2.15 per share . The value of the business would be much higher and the normal calculations involve the present fiscal and future prospects of the business . At normal earnings ' which we hope to return to in the medium term ' $70ml NPAT . x 15 p.e around $3.00 . But normally after a severe downturn such as this the surviving businesses grow rapidly , thus giving a greater s.p. valuation . So a lot of upside here . Also MRM has been very loyal to its customers and as such should be rewarded once the o.p. rebalances . My fear is a predatory take over , once the fog clears . And thirdly MRM has traded admirably without hitting share holders or diluting its share base , or at least not yet . cheers