Nyuni-2 well is costing roughly US18m to drill.KEY's 20% of that...

Nyuni-2 well is costing roughly US18m to drill.

KEY's 20% of that was US3.6m.

So KEY is effectively valuing 50% or WSS as 3.6m - the dry hole cost alone. (Let's pretend that we are not going to lose WSS 'unexpectedly' in coming months with all the accompanying feigned horror from the board at another asset vanishing)

That $3.6M excludes the upside value of the significantly larger targets yet to be drilled on Nyuni, and the imminent potential upside of a gas discovery in Nyuni-2 that could have delivered a 200-300% rise in KEY's share price if the Zeta dilution was simultaneously shelved.

So they are valuing that 'worthless' WSS at around US7m right now for 100%.

Watch this WSS 'value' also vanish like smoke in a light breeze in the coming months.
I mean: they keep alternating between KEY being in a tenuous or a sound financial position, and I guess the same goes for the assets. They will either be worth something or worthless depending on whether the game plan is to suck in more cash from the retail end or do a huge low priced dilution to some good old chaps.

I cannot trust in any plan these guys have for the company. Their credibility is shot with me. I have been looking forward to this drill for months, just like I was looking forward to the UK drill and all these guys do is knife me in the back time and again! Unforgivable.

Old shoes, old shoes, anyone want an gas project in exchange for some old shoes? Thiw in some used chewing gum and maybe you can have KN also. P.S. applicants preferred to be UK based.