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MRM - MMA Offshore

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LifeisShort

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20 November 2006
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Anyone following this stock. There was a breakout 2 weeks ago from low 90c to todays 1.23. It moved over 6% today. I like the company as it is in a niche market and it is in the process of merging with P & O creating a very nice company. IMO it has started to move as perhaps merger is close to completion and helf yearly results are due....
 
Re: MRM - Mermaid Marine

any MRM holders want to contribute their thoughts on todays article in AFR regarding possible future merger with NMS.
 
Re: MRM - Mermaid Marine

Ha! was just about to bump this one too SOBL!!
- regarding James Packer buying 7% stake in MRM back on Sept 17.
Have only just had a look at these guys now after a friend mentioned them.
... interesting. will keep digging on these guys...

- didn't see the article you refer to - got a link?? by any chance.
 
Re: MRM - Mermaid Marine

"NEPTUNE PREPARES TO DIVE INTO NORTH SEA SERVICES"

Oil and gas engineering company Neptune Marine is preparing to reveal its eighth bolt on acquisition in just over a year and observers increasingly beoieve a more ambitious union with fellow player Mermaid Marine is required to add true critical mass.

Neptune is shortly expected to announce its latest acquisition, a company servicing the oil and gas platforms of the North Sea. The latest buy is expected to have cost $20-30 million.

The global shopping spree initiated by managing director Christian Lange since he joined the company in February 2006 has resulted in the company add engineering and surveying arms to to its core underwater welding business, as well as establishing a foothold in North America.

The build-up has added dramatically to the company's income stream, with its September quarter revenue of $18.3million eclipsing the 2007 full-year result of $15.5 million.

Neptune's share price has tripled since the start of the year, with its market capitalisation now more than $200 million.

Both Neptune and Mermaid provide services to the oil and gas industry but they do not directly compete.

While Neptunes' core businesses are diving , engineering and surveying, Mermaid provides ships that help service offshore oil and gas operations.

Mr Lange acknowledged the synergies that might result from a union with Mermaid, he was reluctant to comment further.

Hartleys analys Helmut Engelhard said the services offered by Neptune and Mermaid were complementary but said Neptune would need to ensure its suite of acquisitions was properly integrated before making overtures to Mermaid.

"Mermaid would be a big step for them and I'm not sure whether Mermaid shareholders would agree that Neptune are the best ones to drive Mermaid's assets", he said. "I take my hat off to Neptune for what they have done so far, but they still need to prove that they can tie it all together and prove that the whole is worth more than its parts".

The rising oil price has been a particular boon to oil and gas companies specialising in maintenance and repair work, with the higher prices extending the lives of wells and increasing the need to keep ageing equipment maintained.

Mr Lange said he hoped to build Neptune into a service company that would fulfil roles now carried out by a range of competitors, with the Australian range of services ultimately to be offered from bases in North America and the North Sea.
 
Mermaid Marine MRM

I am a holder of MRM and I am considering the share rights issue at $1.45 per share closing 16 June. Any comments about MRM?
 
Re: MRM - Mermaid Marine

I have in front of me the copy of the three resolutions to be put forward at the 16 June MRM extraordinary meeting;
*resolution 1- sets out shares already paid for as of May 8.
*resolution 2- for 4,704,975 'shares will be to' at 1.45 to 'persons who are not related parties to the company'..
My question here is , As a share holder am I related to the company?
*resolution 3- Shares to board members
I've participated in two previous share holder issue's With MRM and been able to buy on market cheaper, at a later date, but they've always done well over the longer term. I've been a holder for over six years .
 
MRM Mermaid Marine

Hi.

I'm new here and admit that I don't know much about financial stuff. However, I do pretty well trading with common sense, (and guessing what people need).

If Gorgon gets the go-ahead - there's going to be a lot of modules / equipment going up to Barrow island in the next few years.

Mermaid Marine's looking pretty good to me.

They own a heap of tugs and barges in Dampier and it looks like their nearest competition is in Singapore.

Anyone else have some thoughts on this?
 
Re: MRM - Mermaid Marine

Hi Surf,

I don't know anything about the fundamentals but I posted a chart in another thread the other day.

The pattern is still intact and overall looks pretty bullish atm.
 
Re: MRM Mermaid Marine


I think these comments pretty much hit the nail on the head. I only wish I has bought MRM when it this was posted at about $1.50
Hit $3.00 today and trending upwards.
This Gorgon project is MASSIVE. Lookout for companies like MRM who already have contracts locked in to do well on the back of this. Interesting article in the West Australian this week that listed about 10-15 companies in such a position.
 
Re: MRM - Mermaid Marine

Thanks for that compliment.

MRM has been great to me.

A few yrs ago I made 40% profit in 3 months, (about the time that P&O were looking at them).......and I sold them all and bought a car.

I bought again this May - and last month I sold them all again, (doubled my money in about 3 months) and put a deposit on a house.

I don't hold MRM right now - and am wondering if I should push my luck one more time.
 
Re: MRM - Mermaid Marine

p.s.
I work in the oil and gas industry in Perth and am under the impression that the unions are (rightly) very territorial here in WA.

I'd be suprised if Asian vessel owners could do Gorgon without involving the locals, (i.e. Mermaid)........

That's my opinion.
 
Re: MRM - Mermaid Marine

I like this company a lot given it's prospects with Gorgon and run over the last 6 months. The secretary where I work of all people alerted me to it after she had a small punt on it about 6 months ago. Obviously trending up dramatically. I'll disclaim now that I don't own but intend to buy MRM on potential dips over the next little while, and for those who don't read Smart Investor Magazine (not that they are the gospel) MRM was recently given the big thumbs up. So disclaimer, just stating what is readily available and personal opinion.
 
Re: MRM - Mermaid Marine

There is no doubting that MRM is a solid company, however a bit too expensive at the moment, i'll be keeping a close eye on the P/E ratio and waiting for a major drop in the market to nab this one. It looks like the growth over the next few years has already been factored into the share price. In comparison, NMS's P/E is just over 6 times, and with the new aquisition of STS and the fleet of new ROV and support vessels, synergies will most likely kick in over the next half year, stealing mkt share from MRM.
 
Re: MRM - Mermaid Marine


NMS hasn't done well of late - any chance of a comeback?

if one would choose between the two I guess the choice is MRM - according to commsec PE is 13.5 - probably reasonable
 
Re: MRM - Mermaid Marine

Maybe or maybe not..ive been in this 1 for 2 weeks...they just aquired a new boat for service in the gulf .(big deal lo)..but it does look good.. got a stop at $3..
 
Re: MRM - Mermaid Marine

wombat40 said:
Maybe or maybe not..ive been in this 1 for 2 weeks...they just aquired a new boat for service in the gulf .(big deal lo)..but it does look good.. got a stop at $3..
Click to expand...

Time to move that stop north, sp has reached $4 today
 
Mermaid Marine

Mermaid Marine shares are sliding down, major share-holders are desserting.Any Reasons. Please respond?
 
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