Chart has short term potential, page-277

Hi All.

I agree that the price of oil might be likely to be going up... And possibly a real lot if shortages pop up in the future.

But that doesn't mean MRM will go up.

As shareholders we have not heard from MRM for some time.

From the article I posted this morning, observations include:

- There are heaps of oversupply of vessels.
- Asset values very challenged.
- Banks lending the service providers may be in trouble re exposure.
- The real opportunities here are for new investors that are prepared to re capitalise service provider companies where they see some future value in the assets.

I worry that risks abound for existing shareholders in the sector and it might be the new shareholders that re capitalise the company that do better.

I am damn near certain that MRM are going to need to write off a fair bit of the value of their fleet of boats and we will see that write off (impairment) in the next month or 2. Probably 2.

Perhaps the feather that MRM has in its cap is the supply base real estate and its sale, with proceeds used to fund retirement of the debt (mainly because of the boats..). That has to be better than a re capitalisation...