Hi SharpE
Spot on with yr observation!!
It likely 2b the Octans-1 well in AC/P41 drilled, by Shell with the SV, to test the continuity of Crux (Montara Sands) southwards from NXS's AC/P23 into AC/P41.
As per the map from the Libra announcements by NXS, Octans is to the west of Libra & South west of Crux.
NXS said in their Dec 08 update that a second well in Q2-'09 was planned in AC/P41, following success at Libra.
Back then NXS had a 15% stake in this block, not any more though. So shouldn't mean much for NXS shareholders!!
Wonder what Shell's strategy would be, if Octans is a success? Would they possibly take up a position in AC/P23 i.e. the greater Crux block or are they just happy to sit with AC/P41? I dont know, we'll just have to wait.
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SilentPartner,
I dont know if the decision to terminate TOL's contract was to do with the rig owners or Nexus/Shell or NXS's finanacial situation!!
What we do know is, that NXS has $65m in cash, with US$12m due by June end to Viking. This will leave them with apprx A$53m with some more to come from possible Crux farm-out. Commitment to drill Auriga for 90 days was USD40m in rig hire only. Very tight situation, IMO.
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I'd like to know who the interested parties are that have approached NXS for a position in Crux block.
For the time being, I guess I'll have to do my own research to find the answers, b4 IanT fills us up, with details!!
cheers
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