"The operator Key Petroleum Ltd. (Key) has completed an interpretation of all existing seismic on the block and identified a number of structural prospects and leads at Lower Cretaceous Neocomian level where the reservoir target would be the Neocomian sandstones, the main producing reservoir at the Songo-Songo Field and Kiliwani North. Additional potential involving stratigraphic trapping has been identified at higher levels in the Cretaceous and Tertiary. In order to evaluate further the structural and stratigraphic definition of the existing prospects and leads, Key plans to reprocess the existing seismic over these areas. Within the Initial Exploration Period of the PSA there is an obligation to drill one firm well in the first three years."
I'm surprised no-one has commented on this part of it yet... I think that is good news that KEY are moving on this prospect, as it could provide us with another way of getting Gas into the market (without relying on Songo Songo). That is if they find gas.
What is of concern to me is how long KEY have had done the interpretations, and why they haven't released information on that earlier? Or at the very least an update.... That is bugging me at the moment! They are the operator - so don't have to rely on Aminex to release information first!
KEY Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held