getting pummelled!, page-7

"Nobody knows the floor because nobody knows what the hell is going to happen"- You could say this about all things in general. Unless your're psychic instead of psychotic.

"Serious questions need to be asked such as ,......why havent NXS done a deal on CRUX? Many fish have sniffed the bait but they all wander away.There seems to be a common
view that the bait is on the nose so there is a serious disconnect between many up-ramping HC posters and the real world." NXS have stated that they are talking to various parties regarding a deal for CRUX. Firstly you lambast them for doing bad deals on Longtom and with Shell, now that they have the opportunity, now that they are cashed up, now that they can negotiate a deal on there own terms you criticise them. Which is it?

"The reality whether we like it or not is this.
* Management have seriously underperformed over the last two years, yet they are still there pulling in big bucks."
Management get paid. Occam, five years ago this was a small IT company in the NT. It has weathered a change of industry lead by very capable and competent management, it has navigated it's way through the GFC intact where others have fallen. Ceo's at publicly listed companies get paid. Your point?

"*Longtom is late and over budget and the net value to NXS is probably quite low. I wont even go into the lost Longtom deal with AEG."

Firstly it's AED, not AEG. Secondly they now own 100% of Longtom, and the revenues that it will now produce. Thirdly, they have stated that they might sell some of LT at a far better price if and when they see fit.

"* NXS did a dumb deal with Shell selling them Crux gas for a song and giving Shell control of NXS liquids if NXS cant develop the field."
NXS did a great deal with Shell. It brought in one of the biggest oil co's in the world as a partner, it also brought in OSAKA, it's farmed out risk with a view to farming out further risk. Now, this is where it will get complicated for you. If you lack understanding in petroleum geology and and reserve management. NXS will drain the well, or wells, dry well before the deadline. You argument is spurious.You are purely spreading fear without a basis of facts


"* We continue to hear the party line,.....interested companies are talking to us about a Crux deal.This
same line has been going on for a year and a half now."
Repetitive, see above.


"* Legal liabilities are clear and present but will be undefined until settlement or court decision."

I assume you are alluding to the Transocean fiasco.Like any prudent management they have allowed a provision for a liability. Secondly, under which jurisdiction will this be heard. American & Australian commercial law are two different beasts.There liability will be a fraction of their provision.

"None of us like to lose money but this is the reality. The
two new investor/board members must be having buyers remorse."
I have not lost money

"Incidentally, to all the brokers lapdogs and uprampers ......Give it a rest and face the reality."

There are two sides to every coin. I see the glass half full.
"Join the real investors and put some pressure on Board and management to lift their game and get us out of this mess."

They are well on their way. New board members. Fresh funds.Cash flow. Assets intact.

"Occam" reading over your remarks I get the impression that you don't realise the delicious irony of your handle.
You surely couldn't have named yourself after "Occam's Razor"! If you didn't I'll give tyou this little pearl,
"one should not increase, beyond what is necessary, the number of entities required to explain anything". Otherwise known as "Occam's Razor". For the simple minded, it means keep things simple, especially your thinking.

Have a pleasant evening.