Ann: Nexus & Santos Agree to Amend Longtom Gas Sa, page-12

re: Ann: Nexus & Santos Agree to Amend Longto... Thanks Russell
Still waiting and exercising disipline, dont think I will get them at 11c as are well supported at 13c. My price that I set is a personal thing more than valuation with a big margin for error - if I get set then so be it, if I miss out so be it as there are a handful of other stocks I follow in a similar position and offering same upside.
Sell in May and go away hasnt worked for me yet,"maybe" some Euro event will upset the macro in the next few weeks - been too quiet for a little while???, June tax loss selling???? - maybe just wishful thinking.
Dec balance sheet has a net asset value of 16c per share (excl tax assets) with LT at $137m and Crux at $219m, we all know that Crux in particular offers significant upside from that (whether you are in the $325m camp or the $750m camp or somewhere in between). Very little risk at company level now so I would be happy to invest my entire portfolio into NXS at 10 -11c (as is my strategy) and be able to sleep at night.
I dont believe that LT resumption will be a catalyst for significant sp movement, the 2 catalysts are a sell down of Crux and to a lesser extent jv or LT drilling success, NXS is an asset play.