AHS, I most certainly hear you, and agree ..... MRM is very high...

AHS,

I most certainly hear you, and agree ..... MRM is very high risk ........

however, for the lenders to get their money back requires one (or more) of the following:

1. recap prior to end of debt moratorium,
2. inc in both utilisation rates and day rates (to enable debt to be repaid out of op c/flows)
3 OR - some sort of merger with a better capitalised entity......

programmed / unlisted / other aussie offshore co (one has a very solid bal sheet) / sing co ..........

or a combination thereof ........

having said that - I am interested in how this plays out ........

rgds
V_H