takeover target

If you go to their website and read back the broker reports from Jan 09, they have NXS as a takeover target due to world class assets. Given this sector has attracted major interest recently, maybe it is back on the cards for a takeover to occur. See below Hartley's report from Jan 09


Quarterly Indicates Corporate Offers Nexus Energy Limited (“NXS”, “Nexus”, “Company”) has reported in its Q408 quarterly that the divestment process for its 85% owned Crux liquids project has been expanded to include potential corporate offers.

It is possible that this is posturing in an attempt to improve the share price; however, we believe that current market conditions are highly conducive to a takeover of the Company. Potential bidders include joint venture partner, Royal Dutch Shell (“Shell”), Mitsui E&P Ltd (“Mitsui”) or one of the Asian national oil companies, such as Sinopec or Petronas. Shell is partnered with Nexus in two permits, AC/P41 (NXS 15%), where a ~500 billion cubic feet gas discovery was recently made, and WA-377-P (NXS 66%), which contains the 2 trillion cubic feet Echuca Shoals gas discovery. Both permits are located in the Browse Basin offshore in north Western Australia.