Ozzie bob good points all. One of the other things to consider IMHO is that bidding into the NW shelf for work with vessels usually means bidding as a subcontractor to a construction company who is contracted to an oil major, and winning a bid and executing the job with the levels of company management, safety management, labour supply and IR management systems required to effectively produce results and build upon the opportunity takes an enormous amount of experience and company infrastructure to be successful. As MMA have DIRECT vessel and supply base relationships and long term contracts with all the oil and gas majors in the NW shelf, many of them won over the last 6 years, and further successful contracts in long term production this year, they have proven their ability as a company to perform at a high level of compliance with the majors and the Australian regulatory environment. I am not positive but it looks as though from the announcements and growth MMA have achieved in the industry, that whilst competition and availability of vessels to fill it has shifted somewhat during the GFC as per the MD's comments at the AGM which BP use as their caution, the proof of this WA company as a performer who is trusted by its clients will hold it in good stead.
MRM Price at posting:
$2.62 Sentiment: Buy Disclosure: Held
