Nexus Energy has exercised a put option to sell 2 per cent of its 17 per cent stake in the Crux gas field off the northwest coast to Royal Dutch Shell for $75 million.
Nexus Energy has entered a non-binding agreement with oil and gas giant Shell and Japan’s Osaka Gas which will see gas from the Crux natural gas asset off the Kimberley coast processed through Shell’s
Nexus Energy has raised $31 million from an instiutional placement with funds to be used for ongoing development of its 85 per cent owned Crux liquids project off WA and Longtom gas operation in Victoria.
Nexus Energy has placed its Crux oil project on hold and extended a voluntary suspension of its shares as the company seeks funding after an asset sale process fell through.
Nexus Energy will pay a shipping company $US17 million ($A26 million) in damages after terminating an agreement over the Crux oil project located in the Browse Basin.
Victoria-based oil and gas explorer Nexus Energy Ltd has acquired a 10.9 per cent stake of Sydney rival Anzon Australia Ltd via on-market purchases and an off-market exchange.
Victoria-based oil and gas explorer Nexus Energy Ltd will sell a 15 per cent stake in a Browse basin exploration permit to Japanese energy supplier Osaka Gas Co Ltd for $75 million under a sale and purchase agreement.
02 Aug 2007
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