hiya guys,I read this is as positive announcement and it is not...

hiya guys,

I read this is as positive announcement and it is not to be confused with the June announcement, so bear with me here...

Firstly it should be recognised that Nixon has an ongoing relationship with Newsat (refer to june 3rd 2010 announcement)

"NewSat has a long standing relationship with Nixon Communications, who provide remote communication services specifically designed for construction projects, area wide communication networks and preventative maintenance and emergency callout.

Secondly, the contracts announced back in June were for communications services to Nixon's lng pipeline contracts between Roma and Morven in QLD.(June 2010 announcement)

"Two new major liquefied natural gas (LNG) pipelines will run between Roma and Morven gas fields, with construction commencing in July 2010."

Third, the latest announcement is clearly for a different LNG pipeline contract with Nixon
"The combined $2.8 million worth of new contract wins include the recent $2 million contract with Nixon Communications, providing services to four major camps along the new liquefied natural gas pipeline being built between Chinchilla and Gladstone in Queensland."

Now given that QLD has unfortunately been front of mind in the news , I think if you do some googling , you will find that the two lng pipelines are very much separated at birth and therefore are separate income announcements by Newsat.

Fourth, the first contract was quoted as $1 million in revenue over the next 12 months from June 2010 and the latest announcement states " the recent $2 million contract with Nixon Communications "

I rest my case that the announced $2.8 million are new contracts with the caveat that I'm always open to other opinions that seek to set me straight

cheers
billdah