Calvo - although holders don't want to here it I agree with you....

Calvo - although holders don't want to here it I agree with you. There is no way they will do a small Cap raising. this is the opportunity to fix their problems

The issue with Crux is it loses value the more time passes for development. It also is very expensive to develop. Using NPV of 20 per barrel is an absolute joke. The market would value reserves at the pre development stage more like 5$ per barrel. Development costs would be huge so NXS in my view would need to farm down a fair bit as it simply doesn't have the financial might to raise the funds and the debt market isn't as robust as it was when Nexus was trading at much healthier levels.

Alot of mention of the 70 million revenue from Longtom, but very little mention what it means when shares on issue are 30-50% more. Consider how much AED were offering for 50% and how many shares would have to be issued at 32 cents to get that kind of money. In actual fact some of the funds will go to simply finish LT .

70 million revenue for a stock with hundreds of millions of shares on issue and a little cash isn't that flash. By my calcs getting the AED money would have been a better deal. We also must remember revenue does not equal cash flow or profit.

I do wish holders good luck and I do think there is hope the stock will do well Longterm and I also think despite what happens post raising there will be many opportunities to sell out higher levels if ES is drilled or Crux is finally farmed out.