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The company said the debt facility has allowed it to fund the Crux acquisition without issuing additional equity capital.
“The Crux field is one of two major projects which will take Nexus from an innovative explorer to an oil and gas producer in the near future," said managing director Ian Tchacos.
Under the finance agreement, repayment is due in 18 months or when it obtains final project finance.
The Crux field, in the Timor Sea, about 600km north of Broome, contains an estimated 48 million barrels of recoverable condensate and 1.3 trillion cubic feet of gas. It will most likely be developed as a conventional gas liquids recycle project, Nexus said.
Independent resource estimates have valued the Crux field, using the Nexus development scheme, between A$280 million and A$640 million.
Discovered in 2001, the field has a 240-metre gross condensate-rich gas column in high quality sandstone reservoirs, Nexus said.
