Please disregard any 'advice' and price targets and valuations that are not accompanied by some robust technical or fundamental analysis. Otherwise they are just guestimates and potentially dangerous. No one here is able to give you financial advice, only their lay opinion on the potential value of the stock. Good luck!Hi all
i am just starting out and looking to buy my first stock do you guys think NXS is still good to buy in at its current price at 43c as i have seen some of the other posts pridicting it to go to 80c
Thanks for any advice
Haha Nexus is "going through the mill" is it jbocker?
Not sure about you, but new management, three massive projects in the pipeline and ridance of debt seems like progress enough for me to remain confident in this stock!
New management? As far as I know, it is the same management that got us in this mess in the first place
I hold NXS
and on top of that you have aed's management to deal with as well
not such a great picture painted there
note ' have been burnt with aed ' so may be a bit sceptical of their ability and future performance
Haha Nexus is "going through the mill" is it jbocker?
Not sure about you, but new management, three massive projects in the pipeline and ridance of debt seems like progress enough for me to remain confident in this stock!
So nexus's and aed's temporary financial ills were all the fault of the management were they? That's like saying the recession in Australia was all Kevin Rudd's fault! They are just a share responding to market and environmental stimuli, there's no point getting all emotional about them and mistrusting the people in charge.
mastatrada
Nexus entered into drilling rig contracts that it could not afford to pay for. It is basic financial management to ensure you have funding locked down before signing on the dotted line. Anyone who buys a house without first having finance is an idiot - again basic financial management.
Personally am waiting for a reasonable exit point and then I am out of there as I do not trust management.
Hold NXS
gooner,
As is my understanding, Transocean terminated the contract themselves, NXS's angle is that they vigorously dispute Transocean's right to have terminated the contract. Add into the mix Sedco Forex's damages claim against NXS, and we suddenly have a very confusing and complicated legal battle brewing. The Transocean Legend was booked for about 90 days from memory, being charged out at about $450K per day.
As far as the management is concerned, they did a reasonable job in extricating NXS from potentially an even worse situation imo. The core value of Crux has been preserved, and they achieved a fair, if not fantastic, value for the part sale of Longtom.
But not out out of the woods yet by any means.
So nexus's and aed's temporary financial ills were all the fault of the management were they? That's like saying the recession in Australia was all Kevin Rudd's fault! They are just a share responding to market and environmental stimuli, there's no point getting all emotional about them and mistrusting the people in charge.
gooner,
As is my understanding, Transocean terminated the contract themselves, NXS's angle is that they vigorously dispute Transocean's right to have terminated the contract. Add into the mix Sedco Forex's damages claim against NXS, and we suddenly have a very confusing and complicated legal battle brewing. The Transocean Legend was booked for about 90 days from memory, being charged out at about $450K per day.
As far as the management is concerned, they did a reasonable job in extricating NXS from potentially an even worse situation imo. The core value of Crux has been preserved, and they achieved a fair, if not fantastic, value for the part sale of Longtom.
But not out out of the woods yet by any means.
Hey never heard of the Sedco Forex damages.
Can you explain further what these are?? Was there an announcement about these?
Fair comments. Sedco terminated on the basis of Nexus being unable to perform, presumably due to lack of funds. Certainly, they did not have enough funds to pay for the rig without a sale of Crux or Longtom - IMO dodgy to rely on asset sales for ongoing costs. However, I agree the outcome could have been worse.
well gooner, I stand corrected to some extent in my defence of the nexus management. Letting some stupid contractual dispute hold up the Longtom project (todays announcement) for 3 weeks when it is so close to completion has to take some very special individuals indeed.
Looks like there's some speculation that a partner for Crux has been found - there's an article on bloomberg (I can't post links since I haven't made enough posts)
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