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Marathon Oil Corporation Message Board

  • gasnoilup gasnoilup Nov 21, 2008 6:51 AM Flag

    MRO selling below book value

    Mro buy back your shares - put on hold all
    refi expansion - drilling - and buy other co's
    who are selling at these crazy levels.-
    those co's that can buy out other E&P players
    will win big time and share holders will benefit is the time to change direction
    and grab as much reserves as they can.
    if mro does not they may be the one taken out at much too low a price.

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    • Do they have the capital for buy outs? Will be tough to get financing if they don't. No mergers and buy outs happening right now.

    • book value for an eerngy company with reserves in the ground can be deceiving. It can be worth more or less than book value depending on underlying asset values. All of these companies were worth far more last summer based on PV-10 values than they would be now. I am long MRO but suffering along with others. Wonder if low energy prices at year end will require companies to take impairments of book value if their PV-10 is low enough based on what might have been spent in recent years when oil / NG were trading higher than current. Do you experts on this board know whether studies have been made to determine which companies are more insulated from impairment of reserves at year end.

    • Alot of companies are. This market will dip even further, dragging MRO down with it. Its unreal what bargains are out there, but if there are no buyers, we cant go anywhere. You can blindly pick a stock and chances are (as long as its not a bank stock) its a bargain. But, investors are hording cash, and will not get back in until it looks like we have bottomed. We are in the middle of a real meltdown. Everyone is going broke and our financial system cant stabalize. Is oil worth more than 50/barrel? Yes. Is gas at 1.80/gallon rediculous? Yes. But, every stock on the board is getting trashed. No place to hide folks. This is a global ass-kicking. And we have ourselves to blame. Overleveraged and spending money we didnt have will eventually get you. Here we are.


      • 1 Reply to dalester28
      • "And we have ourselves to blame. Overleveraged and spending money we didnt have will eventually get you. Here we are."
        I am sorry but I am not over leveraged nor do I have debt. perhaps you mean government spending
        and debt??
        This is a "created mess "that just happened to occur before an election..the gov inflammed the
        media with the very fear that got this ball rolling, wonder why? remember tarp had to pass
        now or all was doom..the fed and sec and paulson
        got this going and maybe the train ran off the tracks..things are not as bad as the press and
        gov are making it..a crisis for a purpose.

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