Yes, Kalmsg is spot on IMO with his assessment. The difference between success and failure for a company during the financial crisis is how they manage their cashflow. KEY management told us many many months ago this was their focus, and personally I think they have handled this perfectively for us given our situation.
As you have rightly said, cashflow from KN1 will assist in funding future drilling in either Tanzania or Italy and will also avoid unnecessary placements which will dilute all shareholders. With very little script available, announcements on seismic results and firmer production timeframes will be the trigger for a run on shares from quite a few who are sitting and watching on the sidelines with these developments.
On a side note, another great night for AEX up 12% on very good volume.
Cheers R
KEY Price at posting:
17.6¢ Sentiment: ST Buy Disclosure: Held