AED enters Gippsland gas project

摘要

Nexus Energy has begun the process of crawling back from the edge of the abyss by selling a 50% share in the Longtom gas development in the Gippsland Basin in order to keep its ambitions for the $1.3 billion Crux liquids project (Nexus 85%, Osaka Gas 25%) in the Browse Basin alive. "Selling Crux cheaply would destroy the value of the asset up front and the whole purpose of this (Longtom) transaction was to give us "the flexibility to take Crux forward based on an appropriate transaction," Nexus managing director Ian Tchacos said.