It's still wait and see for me as with some others here. I will...

It's still wait and see for me as with some others here. I will be interested in the 2H 16 cashflows and any possible writedowns as they will clarify for me that earnings are sufficient at the bottom of the cycle and that the balance sheet is still strong or any actions required.
It's laughable to say WOR directors said no raising is needed, that's what they all say right before they raise capital. At least MMA directors are more honest and in a much stronger position than WOR IMHO.
I watched with interest the ascent from 20c to 40c, didn't make a lot of sense as the price of oil needs to get higher before activity starts picking up.
Still there is value here for long term investors. It's impossible to know when sentiment will bottom out.
I am holding STO rather than MMA as I think it's earnings recovery with the oil price will be immediate, MMA will take a little time to ramp up again. Watching developments with interest though.