NXS 10.0% 13.5¢ next science limited

appropriate value? $1-68??, page-45

  1. 374 Posts.
    Reduced Crux drilling..
    Refer the Post 3845614 ... Nexus commits to drilling rig and major
    equipment packages for Crux development:
    The NOA for the Transocean Legend includes a minimum duration contract of 260 days to drill "FIVE" additional development wells and complete all "EIGHT" wells planned for the Crux development. The proposed contract will also include optional drilling slots for Nexus to drill additional appraisal, development or exploration wells around the Crux field, such as the Auriga-1 prospect.
    AND what is is in todays Financials Report:
    Well equipment will be delivered during early 2009 for the commencement of an initial "TWO" well drilling program scheduled for mid 2009. The initial drilling program is planned to include an exploration well in the Auriga structure adjacent to the Crux field. The reserves potential and likelihood of success at Auriga has been enhanced as a result of the success of the Libra-1 well in the adjacent AC/P41 exploration permit. Additional reserves at Auriga would significantly enhance the Crux liquids project economics and resilience to low oil price.

    Drilling the optional wells and not the development wells; someone else drilling the development wells?
    Just maybe we have sold the Operatorship?

    Reading between the lines..

    Good Luck..
    SharpE
    DYOR!!
 
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