tuesday announcement, page-20

Folks,

The way I think this could pan out for Nexus,

1) Sell their Crown jewel, Crux (85% stake, 2P-64mmboe)
2) Sell 15% in the adjoining block where Libra was drilled successfully (183m of net pay-zone).
3) Retain 66% in Echuca Shoals (EC) with Shell holding the remaining 34% there.
4) Retain Longtom (LT) as it comes into production mid '09
5) The proceeds from sell-off could b used to pay off debt of $157m. Current cash of $53m isn't enough to develop both LT & EC, so probably a chat with the banks in the UK for funding.

Good luck to all Dyno, Sharpie, JL & others who have kept the faith in NXS, nearly there now.

And lastly a quote from their website,


"OUR GOAL IS FOR NEXUS, IN THREE YEARS, TO BE ONE OF THE TOP FIVE OIL AND GAS COMPANIES IN AUSTRALIA. THAT'S OUR GOAL AND WE THINK WE'VE GOT THE ASSETS AND EXPERTISE TO ACHIEVE IT".

Ian Tchacos, Managing Director Annual Report 2006

cheers