Nexus Energy

Western Australian-based oil and gas player Nexus Energy Ltd and Anzon Australia Ltd are engaged in a takeover tussle, as Anzon attempts to take control of Nexus.

It is not that Perth dealmakers are joining the dole queues, they have just had a little more time on their hands recently.

Shell’s development of a world-first floating LNG project off the Kimberley coast is likely to be a game changer for the industry, allowing extensive ‘stranded’ gas assets to be developed.

FEATURE: A diverse array of privately held and public-listed companies is angling to become the next success story in the onshore oil and gas sector.

Seven Group Holdings chief executive Don Voelte has stepped down from his role as chairman of oil and gas junior Nexus Energy, saying the position was no longer appropriate as Seven Group eyes opportunities in the oil and gas sector.

Uncertainty over the price of oil makes Seven Group Holdings’ purchase of Nexus Energy a classic case of what business risk is all about.

Cash-strapped oil and gas company Nexus Energy has warned shareholders it will likely be forced into administration if a planned takeover by Seven Group Holdings fails to win approval.

At the close of business last Friday, Nexus Energy received about 705 million proxy votes against Seven Group Holdings’ scheme to acquire the company.

Nexus Energy shareholders have rejected Seven Group Holdings’ $26.6 million takeover after the final proxy voting results were confirmed late yesterday.

Oil exploration minnow IPB Petroleum has picked up the pace in its grand plan to get noticed by large producers.

The Department of Mines and Petroleum is seeking to recover about $11 million in unpaid royalties amid producer disquiet about possible royalty rate increases.