Hi Surandi70, You have always been our rock,our major contributor but how could you capitulate to those urban terrorists that come onto this thread from time to time and shoot the place up and then melt away and do it again 6 weeks later?They do it just to create misery amongst existing shareholders and hope that the disguntled and feeble minded will sell out on their spurious assertions.They are only nuisance value and have no power over Mr market.
In relation to Keys current CEO he had nothing to do with the other company.Keys share price has already been to ^.1 cents under the current CEO.The whole oil industry has been watching the Cyrene#1,especially after the Nikolay#1 had not achieved all of its objectives and had lead to a possible downgrading of the goldwyer zone,this is a possible game changer.In addition,Key took over everything to do with the well including the procurement of the rig which at the time had its critics,"it was too old","It would breakdown"etc.Then it was the wrong time to drill...
The whole thing has gone without a hitch,daily reports.He has proven that he can step up to the plate and would have earned enormous respect from the management at Buru and the whole oil industry,and that will be repaid in some way down the track.
The reason why the share price is not moving is simply market conditions.It is a high risk business and investors are wary and are not taking any risks in this area.As an example,Buru,wonderful story,brilliant announcements,high $3.85 currently $2.45.Jacka Resources(JKA)17.5 cents,placement at 20c end of March drilling an appraisal well in Tunisia(I know its a bit dodgy) with contingent reserves of 111 to 213 million barrels paying 30% of $26 million for a 15% share.Lastly NWE in the Perth basin has a very large gas find that they are currently testing the price has fallen from 9.6c to 4.8 cents mc about $48 million.The whole oil sector is quiet.It needs a major find.
Key is primarily interested in oil,not so much gas.There is in the short term 3 ways to improve the share price in these harse conditions,oil flows to the surface in either of their 2 wells or a very good analysis of the goldwyer core leading to some positive announcements.
The good aspect I think of the positive announcement of Cyrene so far is that key will I think concentrate its cash resources in the goldwyer direction and not as previously announced looking for other opportunities,but I could be wrong,unless oil is discovered.
KEY Price at posting:
2.7¢ Sentiment: LT Buy Disclosure: Held
(20min delay)
