Nyuni #2 to be drilled late May, KEY free carried.
Kiliwani North to be commercialised within 12 months.
EP437 was a waste of money.
Italy is still in limbo.
Suriname is still in limbo & KEY is having to rely on the internet to find out what is happening.
Lidsey #2z is ready to go once a drill rig is available but no timeframe. Given the expected expenditure in the 4th quarter clearly it won't be until July at the earliest.
UK assets are producing and being sold at high oil prices yet they are still nowhere near the level of profitability we were told when the assets were bought. Net operating cashflow from the UK assets was $100k for the quarter.
$2.5m in the bank at the end of the quarter and we have to wait til next week to find out what this new acquisition will be and how it will be funded.
KEY Price at posting:
3.3¢ Sentiment: Sell Disclosure: Held