Who cares how many extra million of barrels are added. Unless it in the billions of extra barrel, it's not adding to any "glut".
Last year hwen I check, the world consumes about 110M barrel a day. The glut was an oversupply of about 1.8M a day. That's less than 2%.
How many days of that 1.8M extra glut would be consume by the world in one day? 55 days?
Don't know about you but if I have to save up 3 months' worth of food and all it take is one day to consume them, I didn't save very much at all.
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I know right, comparing STO to MRM.
I also own STO. Bought in a bit too early as it turned out. But that's alright. Can't win them all.
How many times has STO did a cap raising? Twice.
How much does STO owes? About $4B?
How much does MRM need to raise to stay solvent? Before the latest deal with its banker, it was about $170M.
Now that the bankers's debt have been reduced by $45M [once the sales goes thru], they are are fine with the deferment to Sept. 2019, we're still worried about MRM's demise?
That's not to say another curve ball won't come about - such as OPEC getting back to its price wars - but if we can predict these movements and timing... well, we can't predict them.
Anyway, my speculations and blah blah aside, two experienced OSV operators putting some $20M into MRM might suggest that they see something of value and are not gambling.
Maybe don't take my words, take theirs. Or we know better than those operators?
MRM Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
