I think that for those who were certain that this was the end of NXS Riv39 has hit the nail on the head with his observation :
"after all. if all hope was lost, they wouldn't have bothered with the sedco arrangement"
$30m is an awful big penalty to remove this claim and all the uncertainty that goes with it and I wish we/NXS could realistically sue/put someone in jail for the negligence that caused this, - BUT (subject to requirement for sale detailed in the announcement) with SEDCO out of the way that is a very significant element of uncertainty gone.
It also importantly removes a significant barrier to a potential total acquirer for NXS and given the conditionality of the settlement being on :
"Nexus executing a binding asset or
corporate sale transaction by 2 April 2014"
it seems to me this is really one announcement forshaddowing the upcoming more critical "sale" announcement - and we are now seeing the "real deal" being slowly revealed to us in the bleechers
( do I hear 7 horses hidden backstage begining to chomp at the bit ?)
And at least Longtom 4 is back producing - some cashflow is better than no cashflow !
....the game is afoot and it seems we are in for some fairly dramatic announcements coming upto the April 2 deadline.
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Price($) | Vol. | No. |
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