spec buy at 53c from baillues today Recommendation: SPECULATIVE BUY
Nexus's second production test in the Longtom gas appraisal well in the
offshore Gippsland Basin has disappointed, with failure of gas to flow from
the upper intervals of the Emperor Formation, further drilling will be
undertaken. Regardless of the outcome the high daily flow rates from the
lower Emperor Formation of 18-19 million cubic feet per day through a
one-inch choke suggests that Longtom has sufficient recoverable gas to
sustain a small commercial gas field. We believe that the current share
price captures the risk with regard to Longtom's reserves and severely
discounts the upside potential of Grayling. We recommend Nexus as a
speculative buy for investors with a high risk tolerance.
So whether this test is a flop or not NXS looks to have commercial gas.
Should provide a floor for share price then we move to the big one Grayling next week.
spec buy at 53c from baillues today Recommendation: SPECULATIVE...
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Last
24.0¢ |
Change
0.005(2.13%) |
Mkt cap ! $70.11M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 24.0¢ | 23.3¢ | $3.257K | 13.57K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6601 | 24.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.0¢ | 145820 | 2 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| NXS (ASX) Chart |