pattersons rate nxs as spec buy in nov update

Interesting to read the analysis and comments about NXS in Pattersons November update:

"We have revised our recommendation to a BUY
with a price target of $0.74/sh, but highlight that
this speculative, waiting on a revised deal at Crux
to provide substantial upside. We are not actively
speculating on any revised deal but see limited downside
from the current share price."

http://www.horizonoil.com.au/investor-centre/documents/PatersonsOilandGasReviewNov.pdf

Prices at these levels reflect a relatively low market cap of around $302m @ $0.32. The market cap itself is a price an interested party may have to pay for a stake in LT or Crux… Strange, why not offer $600m (x2 market cap) and $0.64/share to take over the company? take the lot!! There is a high possibility directors will bow down take the money and move on rich…. I find it strange how NSX can continue to thread at these prices falling into a predictive trading range with no strong buyers coming into play.

For a long term investor, this is a hold, strong cash flows, LT, Crux, ES with further huge potential exploration assets to play with. Low risk entry at this point in my opinion. With strong upside.

Come on management!

All the best to all holders

LM