Hi GPASAS, Yes MRM clearly seems like a hold at these levels. Its fortunes are indeed connected to the oil price , yet its earnings are more related to the care and maintenance and building of major gas projects in W.A. Waiting for the oil price to rebalance is a very tricky business with lots of moving parts. Not withstanding the massive losses sustained by oil producers all over the world, I believe one and a half trillion and counting, massive hedge payouts from banks who hedged at $80 U.S.; B of A has warned Saudi Arabia to either cut production or face a currency rout. S & P has downgraded 8 Saudi banks and now a number of U.A.E banks as well , so the collateral damage is coming home to roost. And the worlds financial system is on full alert. Most non Arab OPEC countries are broke and locked out of bond and credit markets and are doing oil for loan deals at basement prices..... one could go on and on and still miss the mark, but this is now a Financial crisis between the World Banks and the Saudis, Im backing the Banks. cheers
MRM Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held
