no sv either!!, page-4

Hi SharpE

Spot on with yr observation!!

It likely 2b the Octans-1 well in AC/P41 drilled, by Shell with the SV, to test the continuity of Crux (Montara Sands) southwards from NXS's AC/P23 into AC/P41.

As per the map from the Libra announcements by NXS, Octans is to the west of Libra & South west of Crux.

NXS said in their Dec 08 update that a second well in Q2-'09 was planned in AC/P41, following success at Libra.

Back then NXS had a 15% stake in this block, not any more though. So shouldn't mean much for NXS shareholders!!

Wonder what Shell's strategy would be, if Octans is a success? Would they possibly take up a position in AC/P23 i.e. the greater Crux block or are they just happy to sit with AC/P41? I dont know, we'll just have to wait.

------------------------------------------------------------
SilentPartner,

I dont know if the decision to terminate TOL's contract was to do with the rig owners or Nexus/Shell or NXS's finanacial situation!!

What we do know is, that NXS has $65m in cash, with US$12m due by June end to Viking. This will leave them with apprx A$53m with some more to come from possible Crux farm-out. Commitment to drill Auriga for 90 days was USD40m in rig hire only. Very tight situation, IMO.
------------------------------------------------------------

I'd like to know who the interested parties are that have approached NXS for a position in Crux block.

For the time being, I guess I'll have to do my own research to find the answers, b4 IanT fills us up, with details!!

cheers