Don't know much about the North Sea there but Australia's North Shelf where MRM operates and, from memory, is one of the leading player... the region is only starting to bring those reserves/discoveries online.
I think it's more useful to follow Buffett, and Graham's, advice to focus on the company and ignore the macro-economics. There are just way too many factors that could or would not affect any given company.
How much of an affect on the industry; how much could MRM or others make use of the opportunities and withstand the challenges... it all depends on the company, its resources and management.
With MRM at its current prices... an investor either see value in it within a few minutes, or they don't.
If we were to speculate macro and outside influences, it can't just be oil and oil production for MRM to have value.
There's the possible hostile takeover that would quickly bring its stock at half or same as NTA; possible merger or acquisition with big international operators; the possible purchase or new contracts from countries in SE Asia wanting to build man-made islands and other offshore frontier to stake their claims against Chinese expansion; then of course oil coming back after a year or two more of maxing out existing wells and reserves.
Anyway, I see MRM as one of those opportunity of a lifetime. I've gone as far into it as I think is sensible from a diversification perspective. Hope it works out. I wouldn't have done it any other way. Been saying that even when it drop from my 40 to 22 in a couple of weeks before.
MRM Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
