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Business Description: Nexus Energy Limited (NXS) is an energy company focusing on exploration, development and production of oil & gas. NXS holds a portfolio of energy assets in two regions, namely, Gippsland Basin, off the south east coast of Victoria; and the Browse Basin, off the northwest coast of Western Australia.
Strategy Analysis: The Company's long term strategy is to achieve growth through taking assets from the exploration phase through development and into first production. The company aims to achieve cash flow self sufficiency via its developed assets generating sustainable and predictable cash flows. The company's focus is on the Longtom and Crux assets. It is also progressing the appraisal of the Echuca Shoals discovery by negotiating a farm-out transaction.
Nexus Energy reported positive cash flow of $68.92m for quarter ended 31 December 2012. Operating cash flow for the period was $(3.58m). Payments for exploration and evaluation were $(252,000). Investing cash flow was $75m. Financing cash flow was $(2.5m). Cash in hand at the end of the quarter was $95.04m. The Company reported proceeds from the sale of the 2% stake in Crux were received prior to quarter end and were used for the January 2013 notes repayment and reduction of the Longtom debt facility.
The Age 27/05/2013 |
We have long known that large multinationals have been using complex corporate structures - such as the famous "Double Irish Dutch Sandwich" - to aggressively shift profits and minimise their tax.
The Age 27/05/2013 |
Google's rivals have again prompted antitrust investigators at the Federal Trade Commission to examine the company's business practices, and staff members have begun a preliminary look at whether Google abuses its market dominance in online display advertising such as the banner ads on web pages.
The Age 27/05/2013 |
The Chinese government is planning for private businesses and market forces to play a larger role in its economy, in a big policy shift intended to improve living conditions for the middle class and to make China a stronger competitor on the global stage.
The Age 27/05/2013 |
Bullying and mismanagement complaints continue to emerge from staff responsible for the integrity of Australia's financial markets, amid claims these markets have operated without appropriate oversight.
The Age 27/05/2013 |
The federal government may be forced to review how it taxes superannuation funds in relation to franking credits in coming years. If measures are not taken the consequences could be billions of dollars lost of tax receipts and a big underinvestment by corporates in their own operations.
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