takeover target, page-8

The trading activity from 13th to 20th Aug, saw about 135 million shares been churned. The initial run for the SP was hard, but it did stabilise at 39c.

Now, lets assume that 10-20% of the stock (i.e 135 mil) was churned by day-traders, the rest must have come from Insto's or someone with specific instructions to accumulate, i.e. with deeper pockets (Dutch, Chinese, Aliens??). The SP appeared capped, rather then let-loose upwards. Its time we saw their Top 20 shareholder list.

Had noticed late last month, SingPet's subsidiaries (i.e Petrochina) creep onto CUE's list (#2 in the ranking), mainly for CUE's stake in MEO's Artemis block, wonder if with NXS, we just witnessed the perfect storm.

Whether the mkt is factoring in a farm-out at Crux or Echuca Shoals, remains to b seem. I'd say a double-whopper value deal would b great, so that NXS can get some money & develop Crux & break this grid-lock.

There's a proved 64 mmboe + another 64 mmboe (at Auriga & Caelum) just waiting to b harnessed & apprx 2.2 tcf & 135 mmbls at Echuca.

The hard yards have been done one would think, its time NXS's fearless leader (Ian-T) locked in a deal, going forwards. In hindsight, was good to see the Dow close in the green on friday, hope to see that sentiment reflect on the ASX.