Chart has short term potential, page-424

Hi V_H.

Agree with the sentiment of waiting for the dust to settle.

Today's announcement was needed IMO in the sense it was overdue. The SP was trading higher on the hopes of oil price recovery, not company news.

From today's update there was good news re the new builds going to work. I'm very glad these nice new high spec boats have found some work.

However one thing continues to stick out to me, and that is asset impairment, today's Ann I think precludes this a bit.

As is the general trend in the industry, lower day rates, lower utilisation, and higher stacking, it's likely that sensitivities that will trigger impairments are in the wind. Given that MRM haven't been able to sell their projected asset target is kind of proof in the pudding re this.

The impairments themselves will obviously reduce the NTA per share and this may be of concern to the banking syndicate.

I'd imagine MRM are indeed in active discussions with their bankers and in time more news re impairment and banking facility will come to light.

Capital raising IMO will def need to be discussed....

I think it's going to be a bumpy ride on the share price for the next couple of months.

Having sold out my substantial holdings (for me) recently at 46 to 47 I'm happy to watch on the sidelines as well for the moment while this all goes on...