mermaid marine will get a speeding ticket from

With the announcement of a further 60 million dollar win from WOODSIDE

With the announcement of a FID from SHELL on PRELUDE

Wirh 3 other big projects ready to be sanctioned with a FID - namely

Woodside's Pluto 2 Project

Chevron's Wheastone Project

Inpex's Ichthys Project



in the second half on calender 2011


With two other projects to be given sanction status in 2012 - namely


East Timor Sunrise Project

Browse Hub Project


With all these projects getting the go ahead in the next 18 months

With the value of work on these projects values close to 150 Billion Dollars

With other "small" jobs that Mermaid Marine Australia will receive

With it being the number one supply base and marine service provider to the offshore oil and gas sector in Australia

I can say the following

Every new large project that is sanctioned will add another $1 to the share price of Mermaid Marine Australia. If you do the maths $3 plus $3 equals $6 (this assumes that 3 projects will be sanctioned this calender year).

So why has the share price gone backwards from a high of $3.45 reached a month ago. Why has the share price stagnated at the $3.00 mark for the last 2 years. My calculation had it at $5.00 by the end of this financial year. Three weeks from now. Funny how the number 3 keeps on popping up

The sanction of PRELUDE should have sent the share price soaring


It does not take an Einstein to see the this company is way undervalued

BTW what relationship does Mermaid Marine has with the major players off the coast of Western Australia

To check the answer to this question you will have to do your own research. I however will give you a hint. There is not one major player in the oil and gas industry in Australia that is not doing business with Mermaid Marine