The bar has being raised for NXS. Chk out ORG's purchase of...

The bar has being raised for NXS.

Chk out ORG's purchase of WPL's Otway basin assets.

The deal is for $712.5m for Woodside's 51.55% interest Thylacine & Geographe fields in that project. The gas is piped to Otway at rate of 205 TJ/day (75 PJ/yr).

By my calcs, after std. conversions et al, WPL's net share of reserves amount to ~88 mmboe or 512 PJ reserves which was sold at a metric of $8.10/boe (or $1.39/GJ) to ORG, for $712.5m. (eg ~88 mmboe * $8.1 = $712.5m)

This metric is much higher then the proposed AED-NXS transction for LT at A$4.8/boe or A$0.833/GJ for A$310m.

Hope NXS can use this analogy & negotiate a better price in the future, should they still want to flog 50% of LT to someone else.

After all Cash is King!!