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NXS, NEXT SCIENCE LIMITED
slick7
post Posted: Sep 4 2012, 12:12 PM
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Anyone still watching NXS?

 
Trumpton
post Posted: Jul 5 2012, 12:04 AM
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In Reply To: veeone's post @ Feb 8 2012, 09:18 AM

could someone direct me to any recent posts on nxs.


 
veeone
post Posted: Feb 8 2012, 09:18 AM
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Plenty of activity at kickoff this morning 10 million already in 20 mins? V1

 
coorg013
post Posted: Jan 26 2012, 02:19 PM
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In Reply To: slick7's post @ Jan 25 2012, 01:06 PM

glad to be out of this one, lesson learned! Management are a bunch of clowns.

 
slick7
post Posted: Jan 25 2012, 01:06 PM
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In Reply To: nipper's post @ Jan 20 2012, 04:04 PM

There's no nice way of putting this:
Market doesnt like the deal - possibly not happy with the level of detail in the last announcement - possibly fed up with management ridiculous salaries compared to the current financial situation for NXS and most of all statements like "Investors should be overjoyed" with the proposed deal (Fowler - http://www.smh.com.au/business/shells-deal...0119-1q8df.html )

AKK new chairman Richard Cottee reportedly on $80,000 a year + undisclosed share-based incentives (as of yesterday I think)
Even when in charge of the mega successful QGC Cottee was on about $800k a year + share based incentives
Sure he made a fortune in the end with the options exercisable at zeroand all his accumulated shares etc but shareholders could not complain that he was at all greedy.

For comparison purposes Folwer's salary in recent years
2008 $194k (share price was over $1.50 if you can remember this far back)
2009 $300k
2010 $981k
2011 ~$2 mill

You have to wonder how long the $75 million will last if NXS sell the 2% of Crux as expected...

 
nipper
post Posted: Jan 20 2012, 04:04 PM
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In Reply To: slick7's post @ Jan 20 2012, 12:05 PM

Broker comment

QUOTE
Commentary: Crux binding HOA - seeking further clarification from company

Following discussions with Shell overnight, it would appear that Nexus Energy and Osaka Gas' binding HOA with Shell relates to production from the Crux asset only, and does not involve a unitisation deal with Prelude itself. In this scenario the key question we believe will be the timing of cash flows from Crux (ie. Whether Shell intends to develop Crux as backfill gas, and hence cash flows may be much long dated). We are seeking clarification from Nexus Energy today.




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


slick7
post Posted: Jan 20 2012, 12:05 PM
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In Reply To: brett68's post @ Jan 20 2012, 11:16 AM

It's hard not to think about Richard Cottee at this point in time. I am fairly certain Richard would not have been ok with this deal. It's obvious that his opinions vs that of the current board that came up with the deal announcement yesterday would have been in disagreement. It's understandable that they've parted ways. I just hope that at the AGM the outcome was different. If everyone logically though about what Mr Fowler took out of NXS of the years he has been involved (salary, shares, options, termination payment for changing position) and added it all up vs what he personally brought to the company over these many years I am sure the majority of shareholders would have voted differently...

Oh well. The deal yesterday make me think that price will jump to 40c or so today and in that event I am not sure I would have resisted the urge to sell. Now when I see the market reaction, think about the extra things that I forgot to add up like debt (thanks brett68), then I'm not so happy about it all. Yes there's still some positives. It's not all doom and gloom. I'll be interesting to see where it end up today. There's always a few unexpected surprises with NXS with sellers or buyers suddenly changing in numbers in the afternoon.

 
brett68
post Posted: Jan 20 2012, 11:16 AM
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In Reply To: slick7's post @ Jan 20 2012, 10:16 AM

you're forgetting their debt and when you discount cash flows which are so far into the future you end up with not much - would bet they will exercise that option to sell 2% - they'll want the cash

what an end to a company with such a great asset - top brass have squandered it away and only Ian T has fallen on his sword

 
fraz2
post Posted: Jan 20 2012, 10:57 AM
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In Reply To: slick7's post @ Jan 20 2012, 10:16 AM

I have never liked the time constrained deal they had for crux esp when they had no firm financial solution or real operational plan.

I agree the sp seems a bit low but it is only a heads of agreement and I (going on past performances) for one will not be happy until it (JV) is signed and sealed.

Then there is the recent stoush on the board all making investors a bit leary on NXS. And there is a bit a question mark on Longtom performance.

So basically I am happy that a deal is in the offing that does not have a use by date.



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Our greatest glory is not in never falling, but in getting up every time we do.

Great minds discuss ideas. Average minds discuss events. Small minds discuss people.

Said 'Thanks' for this post: slick7  
 
slick7
post Posted: Jan 20 2012, 10:16 AM
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In Reply To: slick7's post @ Jan 19 2012, 09:59 AM

From 24c to 29c (currently 27c) - is that all??? you've got to be kidding me...

If I'm reading yesterday's announcement right (I am not a fan of the level of detail they've included btw - still so many unanswered question) - then 2% sell option out of 17% NXS is $75million making the current value of the whole 17%= $637.5million. That's for Crux alone ignoring any other asset. Market cap yesterday was $318 million. Yes it's unclear if the deal somehow makes Shell the operator take over most of the costs of NXS for bringing Crux into production. If they're using the current cash to dig around Longtom and look for more goodies then perhaps there is such a deal in place and the detail is not yet out. If Nexus simply have to pay 17% or 15% of all costs associated with bringing Crux into production then I'm not certain it's been the deal of the century. Nexus were not in a great position to negotiate. Shell had the upper hand and I'm sure they're the ones that should have the bigger smile on their faces atm. Even so, I was expecting a more significant jump in share price. Perhaps around 40c..

Any other thoughts?

 
 


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