Out of interest if anyone is prepared to divulge where is your average buy at?
I first bought in 2007 and have like others averaged down to a point where it was no longer viable to participate.
I'm at .69 and I'm buggered if I can touch it again.
A scenario....
1. Total Net Debt is $135M per FY13 accounts 2. Sell 10% of Crux interest for circa $250-300M - we are not going to get a multiple of what we got for the 2% 3. Payout all existing obligations 4. Retain 5% of Crux Interest and redploy capital on alternative prospects/existing interests (ES etc) 5. Keep longtom for cashflow 6. New chairman.
Pie in sky.....we all get excited about these things but bloody announcement is probably about a dilutive capital raising to pay for Sedco. Either that or a vulture fund that is charging 15% over LIBOR for some working capital.
For all that have suffered I sincerely hope we at least get something or a bid smokes out a few to generate some interest.
Holding cause I have to.
T
NXS Price at posting:
7.7¢ Sentiment: Hold Disclosure: Held
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