Some good points about the oil price. Sentiment is clearly not with MCE, while the oil price is falling. But the bigger question is in Flemster's post - will the low oil price lead to deferral of new contract awards and margin squeeze ?
I think the answer to both is almost certainly yes. But :
- MCE should be insulated for the next 18 months by existing work;
- the falling dollar should help them win a bigger share of new work, and protect margins to some degree;
- not all their business is new exploration, there is a large maintenance market;
- they are also developing products for new markets;
- arguably, at half net asset value, the deteriorating outlook is in the price;
- the big shareholders, including the founder, will most likely engineer a takeover if things get too grim.
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Last
36.5¢ |
Change
0.023(6.57%) |
Mkt cap ! $80.13M |
Open | High | Low | Value | Volume |
35.0¢ | 36.5¢ | 35.0¢ | $61.06K | 172.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12000 | 36.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
36.5¢ | 64306 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 12000 | 0.360 |
1 | 11000 | 0.355 |
3 | 123390 | 0.350 |
2 | 4897 | 0.340 |
1 | 8958 | 0.335 |
Price($) | Vol. | No. |
---|---|---|
0.365 | 64306 | 1 |
0.370 | 56000 | 1 |
0.375 | 120000 | 2 |
0.380 | 212661 | 2 |
0.385 | 100000 | 1 |
Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
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