Valuing ES is tad risky & IMO no one will put a $ value on ES,...

Valuing ES is tad risky & IMO no one will put a $ value on ES, simply b'coz of results frm Fossetmaker-1 that NXS drilled a few years back (10m of tight gas column etc).

As per the Annual reports etc, the company has sought extension for its Year-6 geotech work work on WA-377P frm the WADMP & should b busy processing 3D data. This should have been done a few years back, when Prelude wells were drilled, but Shell know abt this area as they drilled the Buccaneer-1 well which wasn't prospective for them, so little wonder they handed their 34% in Echuca back to NXS.

Auriga on the other hand is a low risk prospect.

With the recent 'seismics inversion' NXS have done at Crux, at Auriga the reservoir sands r loaded with gas, which is a good sign for Nexus.

But, the problem is they need cash frm a farmin to drill Auriga-1 & increase the resource size. Here's the inversion shots frm their recent preso's. Pity its taken them 3 years to say this as the Feb 2014 'turn on the taps' deadline approaches.

A bigger reserve at Crux would make it easy to farmin & then they could also package in ES.

Would b interesting to know who Cottee was talking to, & whether NXS management have the same company on their radar, for ES farmin.

No shortage of international operators in this part of the area, as long as there's a convincing case for them to invest their cash & generate cashflw frm it in a short period.

Will see how the AGM unfolds nxt week, not long to go.

Hope to see more clarity frm NXS's board on the FID et al.