how old is this "statement" you're using as the basis for your ramp?
So revenues starting Q4 2010? really? IRR of 26%? does this include the recent deal with Shell that cost them an additional royalty on top of the $36m upfront? What are the cost offsets now because of that deal? What of the field extension til 2023? How much will they have to give away to get a new partner. What are the terms/costs of the new ANZ go it alone financing if needed? etc etc etc
Great buy last week but lets not get carried away here. The capex required to get Crux off the ground is significant to start with and thats before we look at any of the cost inflation in the oil patch (check out WPL's recent 60% cost blow out)
...and thats before we consider anything else like LT etc.
Unless we get a TO the SP is likely to slowly appreciate... just the way it should be, slow but permanent not some 70% spike followed by a rush for the door like we had when we hit 54c.
NXS Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
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