The review said P90 estimates increased from 54.9 million barrels in October 2007 to 63.8MMbbl in April 2008.
At P50, reserve estimates also increased from 66.3MMbbl to 75.2MMbbl.
The reserves increases were made following successful results at Crux-3 and Crux-4 wells, which have been suspended as future liquids development wells.
Both the Crux-3 and Crux-4 intersected previously unseen younger Montara Formation gas-charged sand overlying the older Plover and Nome Formation sands, which were seen in the earlier Crux-1, Crux-2 and Crux-2 ST-1 wells.
Nexus said the confirmed increases in P90 and P50 volume estimates boost the commercial value of the Crux liquids project in permit AC/P23 and enhance its ability to produce project finance on attractive terms.
"The confirmation of the increase in reserves following the successful Crux-3 and Crux-4 wells is a significant milestone in commercialising the Crux liquids project," managing director Ian Tchacos said.
Tchacos also said the confirmation provides a positive outlook for the near field exploration of the Libra and Auriga prospects in AC/P23 and AC/P41.
"The exploration drilling program during 2008 within the AC/P23 and AC/P41 permits has the potential to more than double the current gas and liquids resources, thereby potentially defining a LNG project scale gas resource at Crux as well as additional liquids reserves which could be incorporated into the Crux liquids project," he said.
However, Nexus will not benefit from any LNG development at Crux, as 100% of the gas rights are owned by Shell, which will exploit the gas from 2020 or when the Crux liquids-stripping project has concluded, whichever comes first.
Drilling on the nearby Libra-1 prospect is scheduled to begin in May and the Auriga prospect would follow, Tchacos said.
The company hopes that Libra and Auriga will form part of a much larger Greater Crux accumulation.
Nexus has an 85% stake in exploration permit AC/P23 while Osaka Gas Crux has 15%. In exploration permit AC/P41, Nexus and Shell have 50% each.
