nexus expected to provide update on funding, page-12

CM,

I think thats always the case with a junior with assets under development phase or coming onstream. Hence the need to get money in the bank right in the begining from a bigger player (e.g, ORG-CoP, KAR-CoP deals). Shell is playing big brother but those guys run a tight ship.

By July-Aug '09, NXS can prove that LT is up & running & this in itself will create the much needed cash impetus from Year-2. They've already locked in a deal with Santos for LongTom for 10 years of gas sales. So this shouldn't b a show stopper.

The hold up would b for Crux, as it's development will cost them a lot in Capex & perhaps the banks just want to make sure about few things going fwd.

From their Dec end report, their net assets are worth apprx $433m, which equates to 0.67c/share.

cheers