Offshore wind farm made up 1% of my reply dude. Other opportunities include carting rocks and sand up some creek.
I haven't looked at other offshore operators so I don't know what to make of their situation. As to MRM... I thought it's pretty clear that the bankers will leave them alone after this coming payment?
The only way for MRM to go broke, or to raise massive new equity, is to pay the bankers their due right now, right? Since the bankers says they'll give MRM until sept 2019, two years away... Why are we still talking about its bankruptcy or restructure? Shouldn't we leave that to new development and announcements?
Anyway, if the sky's all clear and oil is all stabilised and up, MRM won't be 17cents.
For my money though, oil is going to do another dive soon. It's smart oiler's way of shaking the trees and killing wildcats.
Just read that there's quite a large number of US shalers not bothering to hedge their oil recently. They're expecting oil to remain at this level where they can make a profit by "flooding" in.
One big shake and watch how those guys will shut down for good. Watch how hard it'd be for them to convince their bankers the tide is about to turn, again.
MRM Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
