KEY 0.00% 0.1¢ key petroleum limited

Roznov, agreed. I've reviewed announcements and presentations...

  1. 6,736 Posts.
    lightbulb Created with Sketch. 122
    Roznov, agreed. I've reviewed announcements and presentations over the last few months from Aminex and it's pretty clear they knew the results prior to February 2010 as the results are flagged in Omni's research presentation released on 1/2/10:

    Volume upgrade at Nyuni

    Having discovered gas at Kiliwani North in 2008 and reprocessed infill seismic data acquired last summer over the Nyuni licence, the company is currently looking to upgrade resource estimates with results of a review expected in February. Likely prospective resource levels are between 20bcf and 50bcf and interpretation of the data is expected also to lead to the identification of prospects for drilling two further wells at the end of the year.

    Aminex is actively seeking a farm-out partner to manage its risks and costs, and looking to move forward quickly since the second extension period of the licence expires in 2011, requiring two exploration wells to be drilled by then.


    http://www.aminex-plc.com/files/100202_Aminex_Omni_Update2_v4_0.pdf

    Note the P90 results are for 22bcf and P50 is 40bcf.

    From reading the announcements and presentations it is clear that Aminex had the results of the KN seismic and were holding back the results whilst re-processing seismic over the remainder of the block occurred.

    They'll need to announce forward plans soon for further drilling as two more wells are required in the Nyuni block before mid-2011 and at least one well in the WSS block in the same time frame. From the info provided it looks like the next well will be a land based drill from Nyuni Island.
 
watchlist Created with Sketch. Add KEY (ASX) to my watchlist
(20min delay)
Last
0.1¢
Change
0.000(0.00%)
Mkt cap ! $2.262M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0
KEY (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.