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Nexus Energy Limited ASX : NXS
11 September 2009 Page 1 of 1
Nexus Energy Limited ABN 64 058 8 278 ● Level 8, 28 Freshwater Place, Southbank Victoria 3006
Phone: +613 9660 2500 ● Fax: +613 9654 9303 ● Website: www.nexusenergy.com.au
Update on conditional sale of 50% interest
in Longtom to AED Oil Limited
Nexus Energy Limited (“Nexus”) refers to the announcements it has made in relation to the sale
of a conditional 50% interest in the Longtom gas project and exploration permit VIC/P54 to AED
Oil Limited ("AED"), including the company update released on 1 September 2009.
By way of further update, Nexus advises that, due to the delay to the completion of the Longtom
gas project, certain conditions which are required to be satisfied by 15 September 2009 will not
be satisfied and as a result the sale to AED cannot proceed in the absence of further agreement
with AED.
Nexus will refund the A$35 million deposit to AED, together with interest at 15% per annum
accruing from 28 May 2009. Nexus and AED are in discussions in relation to the timing for
repayment of the deposit and payment of the interest.
Nexus will continue to focus on the completion of the Longtom offshore installation work which
recommenced last week and looks forward to the benefits of cash flow from the project.
Susan Robutti For further information please contact:
Company Secretary
Ian Tchacos
Managing Director
Ph: +61 3 9660 2500
Jodie Phillips
Investor Relations Manager
Ph: +61 3 9660 2500