nxs responds to shareholder questions, page-3

Thanks Taipan,

Here are a few more answered.

Questions.

Thank you for your reply.
The outage at Longtom was a setback to our cashflow,the length of time it took to resume production was excruciatingly slow.
Is there any compensation due from Santos?
There are comments in previous announcements that skirt around the edges of this issue,still in the dark as to where we stand!

Is there plans for a capital raising in light of no deal currently re Crux/Longtom and dwindling cash reserves?

Answer


Thank you for your email.

In response to your first query I advise that the terms of our contract with Santos are commercially confidential and we cannot disclose any more information than what we have already provided to the market.

In relation to the return to production, the timing was ultimately determined by the availability of an appropriate vessel to perform the necessary works on the offshore infrastructure that was led by Santos. With the return to production in late May (noting that only 5 days revenue relating to May was reported as a receipt in our June 2013 quarterly report) we have now returned to monthly producing cash flow.

Nexus continues to review our financing options to provide longer term funding for the growth of the business and the strategic review of our assets is included within this process. As communicated in our ASX announcements, Investor Briefing Update (6 June) and Open Briefing (3 June), there is no plan to undertake a capital raising in the near term.

We wish to assure you that the Company is committed to maintaining a properly informed market for its stock, in accordance with its continuous disclosure obligations and thank you for your ongoing support.

Kind regards