my take on the quarterly...

1. Consistent with previous. Why can't they hire someone that can actually present what they have achieved and are working towards so that we don't have to second guess or make incorrect interpretations of what is really going on.

2. I believe the deal will go ahead. A misleading and deception law suit in the making if it doesn't as not only have they extended to HOA to end of May, which is better than end of June, but they "are now in the process of finalising detailed documentation". I suppose it aint going to be a couple of pages this agreement so I take finalising means that they are agreed in principle.

3. As much as I would have loved to see the early cashflows from liquids only start rolling in very soon, they will have a 17% stake in a very attractive asset.

4. Global energy parties are interested (pity we can't get them interested in Echuca Shoals!!!).

5. If this project does turn out to be highly attractive by international standards, then there's no way this 17% interest is going to be selling for $250m.

6. This is where I get lost. A guy like Lucio comes on board which I would guess is mainly to focus on CRUX. I cannot for the life of me see how Nexus Energy could raise either by debt or equity the money they would need to fund their interest in the project. We haven't even drilled Echuca Shoals so don't know what it has and Longtom aint going to cover it.

So basically I have no idea like most of us, but given I have been waiting for so long, it aint going to hurt to wait a little longer and see what they can deliver and just how interested some of these Global energy companies are!

I have no idea what this 17% stake is worth, but if they get this deal through it has to be worth a lot more than $250m even if we write off everything else.

There's been some good volumes and large crossings going through the market. Even though big lines are selling, there appear to be willing buyers to take those lines at the market prices, rather than the share price being smashed even further.

Just wish I had of bought in at these prices and not 4 times on average higher!!!

My 75% worth...

PS: Don't get too excited Rafish, might be ok for buyers at these prices, but most of us long-term holders held the expectation that we were going to be selling out at around $1.20 - $1.35 when CRUX liquids came on board. So even if they deliver, the team there have destroyed a lot of our money!!!