Nexus warns of $18m Longtom writedown

Nexus Energy says it will need to go into voluntary administration if an agreement to sell the company falls through.

Nexus Energy says it will need to go into voluntary administration and take an $18 million writedown on its Longtom gasfield in Bass Strait if an agreement to sell the company to Kerry Stokes’ Seven Group Holdings falls through and a rival bidder does not repay Seven bridging finance.

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