Some good points downside ,we could all be right and still have differing points of view. The oil industry has many moving parts and things could move against us in the short term that is possible , but so many , in fact all oil producers are hemorrhaging massive amounts of money and it cant last . Where capex is concerned , the $40 ml burn, in cash reserves was not used to prop up the company , but for the new shipping to take up the INPEX contracts , which will generate income and profits , but by the same token , excess shipping is being sold down , along with the unwanted parts of JAYA that do not fit the MRM model. Also $50 ml of debt was paid down in the first half and still a small profit was squeezed out . Not a bad effort I thought . The company is now meaner and leaner and still generating high revenues . Before the rout the company was generating less than $600ml and making $70ml NPAT , now we have a much bigger revenue base , being JAYA and the N.W. shelf of W.A . also the business has grown in Saudi Arabia . So what we need is higher O.P. and higher day rates to follow the O.P. Now I admit all will be revealed in the FYFR. However this is also priced in , what is really important is the future . Will MRM post bigger profits on higher O.P. and higher day rates ? I think we would all think and indeed hope so .......We have had a good rally , which should soon turn into a trend , but it's still the long game here ..... cheers
MRM Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
