Thanks for these insights PhilleyIts always nice to get info...

Thanks for these insights Philley

Its always nice to get info from the AGM which do not always appear in announcements.

One point, on the Alcoa agreement is that Alcoa is struggling at the moment and it looks like the rating on their debt could be cut to junk status as indicated in this Bloomberg article:

http://www.bloomberg.com/news/2012-12-18/alcoa-may-be-reduced-to-junk-by-moody-s-on-aluminum-headwinds-.html

This is just information for those who are not aware of it. I'm not factoring in the Alcoa deal in relation to Buru, but I think there will be plenty of opportunities to sell the gas, both here and oversees, so hopefully Key will have a role to play in this process.

Also, it is my belief that oil and gas prices will converge significantly over the coming decades and bare a greater relationship to the contained energy values in the gas versus the liquids. I think most people are aware that there is a trend away from oil to gas in such things as electricity generation and transportation, so it seems that such convergence in price is a natural consequence of this process. Leaving aside the depressed gas price in the US, due to the initial supply boom resulting from newer extraction techniques, it seems to me that this process began a few years ago and continues today. I guess at some point a new equilibrium will be reached between the price paid for gas versus liquid hydrocarbons.

To me, this augers well for the future profitability of companies like Buru, and hopefully Key, with the apparent abundance of gas in the region.

This could turn out to be a nice little speccy to have in the portfolio.

I hope that all goes well with Cyrene. A successful operation here will add greatly to the operational credentials of management which is obviously an important investment consideration in the oil and gas sector.

Cheers

Phil