long tom upside or why you'd keep 100% , page-4

haasko old chap... something you like to use a lot..? lol

anyway I wasn't digging them in wrt your posts but I had done a heap of research years ago on LT for someone else... and re-checked it a couple of weeks ago so I posted a reply to your questions without posting stuff I shouldn't.

You're right on the project risk being an issue this close to tie in/commissioning etc, but with the weak market, and the usual sell half prior to "news" in explorers what's happening now isn't I think because they've discovered there's suddenly no gas lol.

I would think with the number of parties involved down at LT if there was a serious concern just days out we'd know. Likewise if there wasn't a little nervousness 3 days from commissioning after 5+ years of exploration/development I'd really be nervous.

AED/Sinopec did due diligence and clearly were satisfied sufficiently enough to offer up cash for half.
(And I suggest in part because they were also Very confident of a big future reserve upgrade.)

Likewise Apache's re-entry rights were just way too expensive at 6x so that didn't fall over due to project risk either.

So I'm happy to hold expecting that this really is the last hurdle for NXS to once and for all prove that they can deliver project completion satisfactorily. Even if it is only a project likely to deliver 100% of "just" $70m/yr