so why isnt the CEO putting his hands up for more shares, page-21

Just writing to verbalise and help me maintain calm in front of this MRM storm.

If MRM's "right price" is around $2 then the current market cap discount is more than $300 Million. This is approximately the whole value of any 1 of their 3 main businesses (original MMA fleet, Supply Base or Jaya).

MRM's share price was about $4 in April 2013. My recollection that that rise was primarily the result of increasing utilisation of Dampier supply base. It began to fall at that time as the Dampier base utilisation began to decline. Late Jan 2014, at $2.80 MRM announced the acquisition of Jaya. The dilution effect of the share issue resulted in equivalent SP around $2.4 - $2.5. The market didn't like the Jaya acquisition; paid too much with no synergies (all fail comments). SP falls to $1.8-ish! Machine trading and short selling drove the price to $1.55. AGM supports the price to $1.65. Oil price falls seem to be the current SP driver... but $1.14?

It should be recognised that the drop in oil price will, directionally, improve MRM's operating margin; bunkers are something like about 15 to 20% of total operating cost.

MRM supports large scale offshore LNG projects. The majority of the business is contracted forward. No doubt that some exploration activity will be curtailed...back to my comment above.... $300 Million discount seems a bit overdone.

One of the calcs I routinely do is a "Residual Strength Index". My RSI benchmark indicates that a stock is oversold at RSI of 30. MRM is currently less than 20.

...that makes me feel better... It looks oversold....

Cheers