Sold out of around 100,000 shares today. Been a long term holder...

Sold out of around 100,000 shares today. Been a long term holder since the $3 days when the fundamentals looked so attractive (not my average price ... its OK). Had oil and gas not fallen so spectacularly this would be a $10 stock by now.

Absolutely amazed how it unfolded to where it sits now. I don't see much catalyst for change, I see an oil price continuing to tank each day, I see oil and gas producers doing the same, and I know that it takes time for those in the industry that service oil and gas to really hit rock bottom and the worst is yet to come.

I was happy to sit it out, tuck them away in the bottom drawer with the other duds, but the opportunity cost with the rest of the ASX falling to pieces was too great. So I got out completely today.

I think we all know there won't be much good news in the upcoming half yearly. I suspect the thin trading volumes are an indication that many are waiting to see what damage that does to the SP. I just have not seen enough contracts announced to keep going like this whilst the oil and gas prices moderate.

I believe that MRM will be taken over, perhaps by private equity, but only when the oil and gas outlook vastly improves. Until then, I will take my chances and put the proceeds of today to better use.

You watch ..... a takeover bid will be announced before the open in the morning now I'm out. Hahaha, but sincerely, best of luck to those holding on.