Where to ...supply base?, page-53

Haha just read this.
Yeah, it's different what the two experienced OSV operators are doing with MRM v.s. you Dang. If the company needs capital they will have a seat at the table and presumably the readies to underwrite a raising.
An example of this happening now is at EHL, though of course the circumstances are very different.
They haven't stepped up though which is strange but what you have to realize is that people with a lot of money are not always right just regular people.
Yes I would watch their actions but you should have your own well thought out reasons for buying.
Which you clearly don't have beyond the fact that the price of oil will rise. It's has to rise fast enough, and be sustained long enough for CAPEX decisions to flow to revenue - that's the big difference between this and STO.
Santos has raised a lot of capital which is great for holders today - they absolutely did the right thing there (though they shouldn't have got into that mess).
It's much larger then MRM, conservatively financed, presently cashflow positive and paying down debt (rather than cashflow negative and selling off "non-core" assets).
Those are the things the real value investors look for, they mean I can take an aggressive position safe in the knowledge that it's very unlikely I will lose money.
Not impossible but very unlikely and even more unlikely that I would lose the lot.
MRM still has a good upside from 22c but the uncertainty surrounding it's existence coupled with the fact that it is presently losing money and cannibalizing its future earnings potential makes it a sad case study.