cba, page-2

I think CBA will upgrade that valuation very soon as will SC (see below).
SCS have upgraded valuation to 74c on the 26th November and I fully expect a further upgrade when the pending announcement re crux is released very soon imo. Note this is not shown on the Nexus site atm.

Nexus Energy (NXS); Buy, $0.74 TP
NXS and Shell announce a win-win deal on Crux. NXS can now proceed with the
final feasibility and funding work on the project as well as selling some equity to a
partner. Shell can book the Crux gas reserves and therefore commit to their important
Prelude FLNG project. Clarity of Cruxs future puts them on the corporate radar; where
they have the ability to sell up to 85% of the liquid stripping project. At the companys
AGM held in Melbourne yesterday MD Richard Cottee said several companies were
doing due diligence on the project and that Nexus was keen, but not desperate, to sell
down its 85 per cent stake in Crux to somewhere between 40- 70% if the price was
right. Removing the uncertainties over Crux we have increased our valuation to
$0.74/share, at a MCAP of <$500m we regard NXS as undervalued. Reiterate our
buy.

With significant upward pressure on energy prices, immanent news on Crux and Richard Cottee (this guy is impressive and highly intelligent) drive things now I would say NXS is looking very good.