md buying stock, page-7

Varuka I agree with most of your post, I think that the scenario you lay out has probably occurred.
However I feel that the conditions are changing for the favour of NXS, AUD at 90c (perhaps heading to 85) and both oil prices above $100bbl are highlights that should assist NXS continuing to receive interest re:Crux.
Back to the old chestnut debated so often here - is Crux worth the value of the Shell Put or in line with recent arms length transactions or somewhere in between.
Having different avg buy in costs we have different views, personally I would be happy at the lower level - NXS debt free , per share cash backing of 13c, LT 10c per share, ES 1c per share , contingent Transocean liability (5c). The market and SP would IMHO value the certainty of a deal being done rather than holding out for an extra $50m or whatever. The "suitors" apart from weighing up the opportunity of getting the bargain they want will be offsetting the risk of Auriga/Caelum doubling Crux's value and their ultimate price - IMHO this upside and precisely how to value it is probably the sticking point seperating parties on both sides.