quarterly report, page-12

Hi Odysseus

You are spot on.

The Longtom gas project is expected to produce for over ten years. Nexus has a gas sales agreement with Santos for the purchase of up to 350 PJ over the life of the field. The company forecasts that the Longtom project will generate pre-tax cash flow of around A$70 million per annum based on 25 PJ per annum of gas sales.
Since 27 October 2009 Longtom has produced average daily gas volumes in excess of 30 TJ/d and average daily condensate in excess of 430 bbl/d.(summer rate)
Gas is being delivered into the Eastern Gas Pipeline (EGP) connecting the Melbourne and Sydney gas markets pursuant to the gas contract with Santos and condensate is trucked and sold to the Shell refinery in Geelong.

Now Longtom is expected to produce around 4MMbbl apart from 350PJ of gas already sold to Santos. That itself should generate a revenue of $300 Millions at today prices of $75 per bbl in coming years .In addition to the field reserves of 350PJ there are additional 71 PJ. The additional gas volumes have been assigned to the Contingent Resources category until such time as a firm sales contract for the additional volumes is secured
Yet again market cap of NXS today is $265 Million with company debt of $170M