Ann: Appointment of Kane Marshall as CEO of Key P, page-16

re: Ann: Appointment of Kane Marshall as CEO ... Well said Surandy70.

The first thing I thought to myself when CM was appointed along side the acquisition was “why”. Further, why was CM so happy to basically give away EGO’s assets to us so cheaply imo, unless there was a part 2 to the equation, which involved their 20% stake in KEY.

Given the number of shares on issue at EGO, I would not be surprised to see a reverse consolidation happen to reduce the number to say 500,000 (1:10), - just a guess, before any other corporate activities occur between the two. This is all just pure speculation on my behalf, but I do think this is a real possibility.

IMO, while KEY holders will suffer dilution, it would most likely have the same effect if they did a significant cap raising at current prices. I remember seeing in the last announcement that KEY are looking for further “ventures”, so where do you think the money will come from to pay for this.

The benefit to both KEY and EGO holders is that they would have a bigger combined piece of the Canning Basin, and for EGO they would have a bigger slice of our other assets in Tz and UK.

Does any one have any other views of possible scenarios?

Cheers
R