Ann: New Contract Awards, page-8

Hi Croasian.

Things are okay in general though I’m finding it difficult to pick any good stocks at the moment. Seems at the moment to be difficult to find things with the clarity that we had 18 months or so ago.

You have certainly done well with your STO purchase and you still got by your guns in the hard times with that one I recall. I did not follow you into STO which I regret!

In relation to MRM the situation remains difficult. VH has covered off some positives and negative’s in another thread that I tend to concur with. Overall the moment it seems that MRM will be struggling to maintain its cash position although it possibly will do so. As VH indicated that seems a possibility at least the MRM and will do another capital raising in the future.

While things are looking up for oil and some comments out of Saudi Arabia are positive today, it seems dramatic oversupply still in this boat business is really is capping both rates and utilisation and that problem hasn’t started to go away just yet. The new contract wins that they have had while positive for utilisation I dare suggest are at breakeven rates or there about.

Nonetheless MRM might be a positive play should conditions improve however it does remain not without significant risks.

Otherwise re stock ideas I haven’t actually got that many at the moment as I said before. I am building my position in stock MOC. Mortgage choice has certain risk’s and headwinds at the moment however there arguments both ways in relation to it and if nothing else at least at the moment it does have a bloody good dividend yield.

Cheers.