Continuing to read the BS from Deloittes and more annoyed at...

Continuing to read the BS from Deloittes and more annoyed at every page.
Valuation appears to be determined by sum of parts and the parts valued by DCF. Anyone who knows anything about DCF knows that the NPV changes dramatically with time and rate.
Deloittes makes some sweeping assumptions around how long it will take to receive cash (NB bringing forward expense in nearly every possible instance and delaying revenue to the latest conceivable date).

Deloittes said they use management's cash flows and neglected to put these in print - negligent in my view - they take us for idiots. "the future cash flows have been described in Section 4 (P36 of IER). Please do not describe the cash flows - the numbers must be stated and detailed line by line, year by year! They assume revenue from Crux wouldn't be before 2028 yet in their discussion say that it could be much earlier with Prelude which I believe is before 2016! What is another 12 years when playing with numbers? Well we can't work this one out without the cash flows and cash flow assumptions. They take us for mushrooms.

Deloittes assume that we as shareholders should aspire to an after tax (and tax at 30%) discount rate of 12.5% to 13%. Wow! such a narrow range when there isn't a junior oiler on the ASX that pays a dividend so we shareholders are all happy to sit on zero return until pay day - stick that into your model Deloittes and then show us the NPV with 2016 revenue? And tax - well how many of the major shareholders in junior oilers are paying tax on this investment? So they included a range of rates to indicate the difference that they would make - of course not - that would be too transparent and open to criticism. No justification included nor discussion to justify - trust us we know! BS and more BS from the seemingly incompetent and not very independent authors.
NXS battle team Make my day - stitch SGH and Deloittes and NXS management up.....
I still don't like our chances as I remember we are a very small if vocal group on Hotcopper and this whole affair reeks of Aussie underarm but we have to try - this is really bad....