announcement - longtom resv, ceo&crux updates, page-14

Hi Rafish,

Great post. That was the first thing I picked up as well.

Is there really any value in NXS holding a passive interest in CRUX which will only give the company a return in 10 years time but probably still require some large capital investment.

I do agree that they need to sort out the current lease which I think is a foregone conclusion given Ferguson put the deal together.

I'd say the whole board will be looking for a new job in November if they don't get that share price above 35c by mid year. You can't take an annual pay packet of $2m and watch the value of a world class disappear. Well, actually Fowler has...

I've sent my thoughts into the board and made it very clear that I invested in this company around 4-5 years ago to see CRUX deliver great cashflows within 5-7 years. These guys are supposed to represent our interests and there's no way in hell I was going to wait another 10 years because they couldn't commercialise the asset.

I requested they sell the whole 17% off and make a capital return to shareholders. Now if that is now their intention I agree that selling a stake in the Prelude project suddently looks more enticing to the global petroleum players.

Could any of us have imagined that the share price would be 19-20 cents at this time??? Blech is spot on with why it is there. I've made my thoughts known about Fowler here and to the board of directors.

I still believe that if RC had of been voted in at the AGM we would have seen the cashflows from CRUX and probably a deal with Echuca Shoals. I can't wait to see this great quality candidate. I bet he or she is going to come with a nice premium price tag with a great parachute, because that's the only way I'd join the company as CEO!