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Hi Bello, no worries mate.

IMO, there's more then 1 way to skin a mongoose & thats what NXS are doing, i.e, complete sell/partial sell/cap raise/go-solo.

At LTom, they are going solo & played the cards allright by finding STO as a buyer so revenue is locked in.

AWE comes to my mind here, having agreed to sell 300PJ/ 15years to Origin from their Yolla Gasfield in the Bass Strait, I dont know the agreed transction metric there as its kept confidential. However NXS did good with STO deal, i.e, 350PJ/ 10years for $1b.

With Crux we are looking at deeper waters (250m+) & higher costs, hence the need to have a bigger player onboard to share the journey.

Think, they have lived in Shell's shadow for a while & Shell being Shell probably wants to drive at bargain prices, not acceptable to Nexus's board, hence the stalemate IMO. But thats ok, look term POO looks good & Crux is modelled at $40/bbl to stay cash positive according Hartleys. Crux is a proved reserve as is Echuca & thats the main thing any buyer needs to look at.

Now, where are the Chinese, when u seriously need them!!

cheers