Modula, the discussion about Nicolay #1 relates more to KEY's exposure in EP448 as Philley pointed out, at this stage KEY is focusing on drilling Ambrose #1 which is much, much closer than Cyrene #1.
Also, the Goldwyer formation at Ambrose #1 is shallower than at Nicolay #1 and is believed to be in the oil window.
Seeking farmin partner for EP 448 (70%) for large unconventional Goldwyer oil play
? Adjacent Niokaly-1 results are positive for Key (EP 448 likely to be in gas condensate/oil window) as Goldwyer shales are at ~2,000 metres depth
Ann: Investor Update , page-15
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