wall st journal article, page-11

I refer to my previous post:

http://hotcopper.com.au/post_single.asp?fid=1&tid=2196502&msgid=12993283

Working back and replacing the valuation of Crux with the reported "One of the people said Nexus had rejected a roughly A$175 million offer for its Crux stake in December, without naming the bidder" quoted in the article:


Asset Values A$M :

Longtom gas.................................144

Crux........................................175

Exploration.................................110
(Gemfish, Mashmaker, Longtom, etc)

Exploration AC/RL9 ............................0
(Exploration in Crux permit previously valued @ A$14M)

Sedco.......................................(10)

Corporate Costs.............................(29)

EV..........................................390

Net Debt....................................135

Valuation...................................255

Shares Outstanding.........................1,330

Valuation per share.........................A0.19

Regards

SP