oilers on the move, page-6

watching NXS closely.

Very rarely would one find a Company trading at 50% below NTA of $0.55. Fundamentally it has always been a long term buy. Our nearest producing asset being CRUX have already have all necessary permits in place with production permits already granted indefinitely and with FEED completed and millions already spent on CRUX.

Big money is in the Oil and Gas industry. Been studying the South Korea, China and India Oil and Gas Reports and I am confident to say forecast for LNG demand will look to stay strong in Asia. Demand will continue to grow with major economies all having increased deficit gas supplies and require imports to sustain. 2010 demand and supply looks fair, with supply outstripping demand, but is unlikely to remain the case from 2011-2014 onwards when demand will start to outstrip supply further tightening oil and gas prices.

In regards to LNG growth, look at the news this morning; look at how battered AOE prices were? And out of the blue Shell proposed a $3.3 billion plus bid for AOE pricing the share at around $4.50. Immediately the market reacted, SP rose 45% to $5.00 plus. Sometimes companies cannot be valued on present value but needs to consider future valuations as our limited energy supplies trend up. Supply may overshadow demand in 2010, but how about 2011, 2012, 2013, 2020? Shell wanted to capitalise on the Queensland LNG boom!

Surely these are indications that Crux LNG dream can be lived. Take for example Santos latest presentation; check out the gap of LNG contracts yet to be contracted pass 2013 onwards?

NXS Share price is at all time lows. Proven assets, high potential exploration assets, a producer with $70m revenue per year base on the 25PJ forecast which is possible to attain at current rates, in addition Winter Season is around the corner, and Melbourne in Autumn is already receiving hail storms? Freaky weather! Perhaps an early indication of gas consumption to come to supply the Melbourne and Sydney gas grids.

All the best to all holders

LM