Ann: Response to ASX Price and Volume Query, page-2

Huge day coming up tomorrow

Mentioning AWE in that sp query

The Company notes that there has been recent interest in the sector since the acquisition of AWE Limited (“AWE") by Mitsui. Key has undertaken a transaction in the Perth Basin with AWE Limited, prior to the Mitsui takeover, for the acquisition of AWE Perth Pty Ltd’s 100% interest in Production Licence L7 which contains the Mount Horner Oil Field, as previously announced to ASX on 30 June 2017. As also previously announced on both 14 May 2018 and 30 July 2018, the Company believes the northern margin of the basin in both EP 437 and L7 is underexplored for conventional oil and has identified areas of further exploration drilling in both blocks as well as potential additional infill drilling locations in the Mount Horner Oil Field. In line with the Company's focus on conventional oil in the Perth Basin, the Company previously disclosed on 14 May 2018 that the Company had identified a potential Permian drilling candidate in the Dunsborough Field area of offshore WA 481-P that is analogous to the Waitsia Gas Field discovered by AWE. The Company is not aware of any other explanation for the recent trading in its securities.

IPB run MARKII