risk /reward

It appears that Iam a voice in the wilderness.It seems like a lot people have written the conventional reservoir off perhaps due to really poor market depth-it is depressing.It seems like a mountain to climb.

The Hedonia#1had "lost circulation indicting a high permeability in a reservoir where a significant gas show was recorded" and the Cyrene #1 is only 160 metres away.

If and I say "if" there is a conventional reservoir with oil in it in the Willara and it is thought of as of lower risk as it is not a complete wildcat well there is the possibility that there could be 2 commercial zones.If this was the case the upside is enormous.

It is then in a situation as the Ungani is to Buru.That is lookalikes with shallow drilling both with the objective of assessing the Goldwyer zone and a conventional reservoir.The Cyrene costed $5.5 million ie Buru paid the first $3 million and then the joint venturers contributed a further $2.5 million(Key 20% of $2.5=$500000).

A similar well would cost lets say $5.5 million and Keys share would be $1.1million,easily financible if a capital raising is done a substantially higher level than the last,without diluting the capital too much.

In relation the some of the postings that may be suggesting the No1 shareholder is selling,maybe jokingly Iam sure it is not the case.They would not sell on market there is too many shares and would force the price down,it would be done off market through brokers and they would have to submit substantial shareholders notices andI have not seen any yet.Also they have a strategic stake not to be sold down just like that on market.

It would have to be sophisticted shareholders from the last placement worried about their investment or other top 20s shareholders exiting.