now in trading halt!, page-28

Not sure why all the speculation on different scenarios.

Quite clear to me as we've seen this many times before.

DV has resigned immediately because SGH are about to make a tilt at this company, buy out assets or dump a heap of cash in and dilute remaining holders. Clearly SGH see lots of opportunities with some of the ridiculous valuations of companies like ours. Others may know better, but I think SGH are largely opportunistic and won't be that generous on their terms.

"SGH's strategic focus on opportunities in the O&G sector, his position on the board of Nexus is no longer appropriate."

But anything, and in particular, SEDCO settled, means this company is firmly in play. Shell will be watching closely as the cost to remove another group it has to consult to develop CRUX and associated fields is got to be worth the spare change that falls behind the couch compared to recent asset sales. They seem committed to these fields.

Can't see any capital raising going ahead as they would be left with a huge shortfall. Too many bad memories of how this company has destroyed capital, with the most recent at 40c a few years back. Glad I was too skinned to pick those up!

My views anyway. Be interesting to see where this goes, but would be glad to see this dog put down. Been a very painful 7 years and can't say that anyone running that company really deserved the generous salaries they received over the years!

Would hope to see an offer of around 18c to 25c as Andrew Greig won't sell his stake at a loss.

Glad to see the smart money of Nasty1 back in NXS. Knew it would be good for the share price :-) And good to see you in true form being moderated LOL!

Would love some good news from a waterlogged London!


How's this for an extract from Feb 2010. Wonder how close this got to becoming a reality. Hopefully some closure on this one!

Nexus Energy Up 28% Early On A$480 Million Shell Takeover SpeculationSYDNEY -(Dow Jones)- Shares in Melbourne-based junior oil and gas explorer Nexus Energy Ltd. (NXS.AU) rose strongly in early trade Tuesday after a local newspaper reported that shareholders were being sounded out over a A$480 million takeover bid. The Australian newspaper, citing industry sources, said that speculation was centering on a bid by Royal Dutch Shell PLC (RDSA), which has rights to gas from Nexus' Crux field off the coast of Western Australia. At 0043 GMT, Nexus shares were up 7.5 cents, or 25%, at 38 cents, short of the rumored 50 cents per share takeover price cited by the newspaper. Spokeswomen for Shell and Nexus weren't immediately available for comment. Senior Nexus staff were meeting till around midday, said a receptionist at their Melbourne office. The company's shareholder register is diverse, with the largest shareholder--Norway's Clauson shipping family--owning just 7.2% of the stock, followed by a 6.3% slice owned by U.K. fund manager M&G. The Australian reported that "it is understood one of the shareholders that has been sounded out is London-based". Nexus non-executive director Symon Drake-Brockman, the former head of capital markets at U.K. bank RBS, owns a further 4.9% of the stock. No other interests are significantly larger than 1%, although companies connected to the family of late Melbourne industrialist Victor Smorgon hold several separate stakes. -By David Fickling, Dow Jones Newswires; +61 2 8272 4689; [email protected]