MRM 0.00% 33.0¢ mma offshore limited

I hate to be the bearer of bad news, and hope Suzan doesn't drop...

  1. 914 Posts.
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    I hate to be the bearer of bad news, and hope Suzan doesn't drop her bundle because I've turned negative on MRM for the short term, but I just randomly took a phone call from a guy who used to work in the oil services industry as a diver and advanced rigger who is now looking for a job on the roads.

    I asked if he had worked for MRM before and while he said he hadn't, he knew of them and had been on their ships a few times.

    He said it is as quiet as he's ever seen it (no surprise) and that for the last 10-15 years he has always had work lined up at the completion of each contract.

    Unfortunately, all the jobs he has done recently have been de-commissioning jobs and now even those have dried up.

    He called $70 oil price before any work starts up again, and he's going to be holding a lollipop stick at the side of the road until it does.

    I've sold my remaining shares (in my super account) now and will wait and see what happens in the next company report before I get back in.

    It might backfire, but I'm just being honest as someone who was very bullish on this stock previously.
 
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Currently unlisted public company.

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