Ann: Investor Update , page-28

I may be dreaming but this how I see the action unfolding with the cyrene-1.

The market depth is terrible and I believe alot of investors are caught in the stock and want to get out especially those that took the placement at 2.8 cents.

When the drilling starts there will be an initial buying surge that will take it to somewhere beteen 3.3 to 3.5.The sellers will take their shares off the board and the market depth will turn around.

The management at the agm have a confidence, we all know this is a dangerous risky business but they seem to think that oil shows are certain and they feel that an oil reservoir is there but whether it flows they dont know.

If they are right the share price can run a fair bit above 4 cents if oil shows are present and if oil comes to the surface then it is a game changer for key,then 10+ cents.

It is a shame that both BRU and NSE are showing weakness at this time as I feel if BRU was $4and NSE was 70cents then there would be a lot more interest in the cyrene.

Having said that it is only costing key $500000 so for shareholders little to lose and plenty to gain