NXS Next Science Limited

0.275

0.01 (3.77%)

04 Jun 2024 - Closed

Delayed by 20 minutes

Share Name	Share Symbol	Market	Type
Next Science Limited	ASX:NXS	Australian Stock Exchange	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.01	3.77%	0.275	0.27	0.285	0.295	0.265	0.265	226,512	09:50:00

Nexus Energy Buys Extended Timeline From Shell To Develop Crux

24/11/2010 10:52pm

Dow Jones News

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Nexus Energy Ltd. (NXS.AU) said Thursday that Royal Dutch Shell Plc (RDSB.LN) has granted it an option for a three-year extension of the gas rights handover for the Crux liquids project offshore Western Australia state to the end of 2023 from 2020.

Nexus said it will pay Shell an option fee of US$675,000 on execution, an exercise fee of US$34.3 million payable on a final investment decision before the end of 2011 and a 3.5% royalty payment for the life of the project.

"Whilst we still have a lot of work to do to bring Crux into production, the extension is necessary to allow sufficient time to recover the liquids and meet the conditions for financing," Nexus Chairman Michael Fowler said in a statement.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com