waugh-1 well in the north perth basin , page-4

I tend to agree Striebs,

This has now become a big value play.

KEY has the 3rd largest acreage in the Canning Basin; where the two ahead of them have many multiples of KEY's market cap.

$3.5million cash in the bank and has a market cap of only $5mill.

Waugh-1 due to be drilled before May which offers significant upside to the company.

The value of our Canning asset is largely unknown and as the value becomes apparent we will in time look back at KEY as an amazingly cheap buy in times gone past.

I am buying up at these prices in the belief that there is good medium to short term upside on the back of enormous long term potential.