news this week, page-22

I have no time for previous management of NXS, particularly raising money when we they were suspended from trade for months about 3 or 4 years ago earmarked to drill Auriga (to make Crux potentially more attractive) and they never did - but I draw the line there. Re: Crux deal with Shell, they probably got the best deal possible given the macro environment, really the whole thing was out of their control, the initial sale of the gas rights (a great move at the time) and then the 2008 onwards global crisis conspired against NXS, nothing else the board could do, Shell always held the whip hand from there.
Like NXS there are a host of similar ASX companies with potentially Tier1 massive world class projects SDL, FMS, RES but they dont have the Balance Sheet to develop them without significant dilution. At least NXS moved early enough to close out a deal.
Osaka like NXS were likely "price takers" rather than price setters but at least they survive with something tangible and something real. If they didnt sign there was a real possibility that the parties would have been made to give up the project so really there was no choice but to sign whilst perhaps demonstrating some displeasure.
No corporate likes losing money or having to radically adjust a strategy to compensate for errors but in the end wise minds revert to the realities of a situation and I think that is all that has happened here with these 3 groups. Osaka will likely get their money back at the very least, they are still in a much better position than NXS capital subscribers.