Ann: Quarterly Report for quarter ended 31 March , page-5

re: Ann: Quarterly Report for quarter ended 3... It was a bit of a surprise to me that they wanted out of TZ, never mind both prospects.
But with the limited TZ gas market and only a very large discovery (larger than they likely have on their block) required to provide opportunity for LNG export (which is imperative IMO) it would have been foolhardy to throw a good few more million into drilling given the status quo.

And it seems we even have 'issues' with RAK gas now. I wonder what has been going on behind the scenes.

Yes, Italy is painfully slow, but the market in the EU is well developed and a discovery there will probably have a better reception than one in TZ.

There are investors in ADX/CAV who have taken soph placements below market due to their interest in the Sicily channel, and those shares and options haven't made it onto the market despite a 3700% rise in the latter. Who knows what interest could be shown in KEY in a few months time.

Seems maybe someone had wind of that potential deal given that unusual if low volume buying of the stock in April.