nxs post farmout of longtom

Hey guys,


Not a follower of NXS, just kept an eye on it on and off, trying to crunch the numbers on where NXS is post LT farmout and here's what I got from the last qtrly

Shares 650M approx
Cash= $60m + $155m(LT Sale)=$215m
Debt= $185m
Expected Cash Outflows this qtr = $85m

So post sale NXS will theoritcally will be able to pay down its debt to say only $75m and still have cash of $20m for workings

They will retain a 50% interest in Longtom which is worth $155m minimum

And still have the Crux and Ecula Shoals projects

Interesting

Also I think AED may have got a bargain based on this line "Mr Dix noted that the transaction represents an effective price of A$0.83 per GJe of 2P Reserves"

Only because CSG transactions have been done at $2/GJ of 2P reserves and I know CSG in Qld and Offshore Gas are like chalk and Cheese but I would have thought say $1 GJ was more appropriate

Just my thoughts, but all in all takes alot of pressure off NXS , be interesting to see where it opens and ends up

Anyone care to put a value on the company based on my figures? I haven't followed it long enough so I don't think I can