Ann: 2015 Half Year Results Investor Presentation, page-12

I am surprised, and shareholders should be encouraged, by the performance today. Not a catastrophic sell off and certainly not a belting to the shareprice. It did well all things considered.

Big worry for me, and hence my exit recently at significant loss, is increasing debt gearing with rapidly falling cash on hand. This combined with a bleak 2H outlook says to me cash will continue to burn.

The problem with being on the services side of oil and gas is that even if oil rallies from here, the material shot in the arm for MRM won't come until next year at the earliest in my opinion.

To be honest, I expect this to capitulate into early 20's today after reading the presentation. It didn't and that is a good thing for holders. Will watch for any shorts accumulating in coming weeks.