Nexus Energy writes down Longtom value

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Nexus Energy Limited (ASX:NXS) has written down the value of its Longtom gasfield, announced CEO developments and flagged investor interest in its Crux gas liquids resource off Western Australia.

After the market closed yesterday the oil and gas producer revealed an expected $163 million writedown in Longtom’s value, bringing the carrying value of the field to $148 million.

Nexus is currently undertaking a CEO appointment process and says it expects to be announcing its new CEO in the short term.

The company also yesterday advised it has received approaches from several industry players interested in Crux equity.

Nexus Energy reported a net loss of $39 million in the 2011 financial year.


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