KEY 0.00% 0.1¢ key petroleum limited

Ann: Reduction in Tanzanian Interests , page-7

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
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  1. 3,719 Posts.
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    Bought a 5K stake on a whim a while back...never invest on a whim!

    The others here don't like the announcement, however, I find it hard to judge without them putting a value on the initial drilling costs. If they are high, and KEY was unable to fund these costs, it might be a sensible decision given where we are at. If the Tanzanian well comes in, it will remain a valuable asset and should not he too hard to fund on a ongoing basis.

    The other issue, I suppose is why we are so cash constrained in the first place.
 
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