bye bye tanzania, page-8

"An opportunity exists to increase percentage interest in WestSongo-Songo from 50% to 100% on completion of the funding, subject to detailed negotiation."

Surandy70,

No facts, but:

It is pretty clear IMO if the above is true from AEX that Ken and Co want to exit Tz completely. The above will probably be a cash sale of about $3m which the company will need once the UK drill goes ahead in April.

I am also expecting that they will wait until the 2nd well is drilled in Tz, and then sell the remaining 5% interest to AEX also, hopefully for a reasonable price this time and especially if the 2nd well is successful.

AEX has done us a favour in their presentation and have revealed to us all what KEY are planning with their assetts in Tz.

If the above happens, IMO KEY will end up with enough cash to increase their assets in the UK without needing additional funds via placements in the short term.

It is pretty clear to me now that they want Oil and not Gas to dominate their portflio. With Oil prices expecting to rise even more in 2011 and beyond, a decent acquisition in the UK may just give us some much needed hope for the future of our company.

With regard to the future of our board, the release of the Top 20 recently showed that the board still have quite a bit of support from their major shareholders. Quite surprising indeed. I now believe that there is very little chance of them being replaced in 2011, unless they completely stuff up the UK drill.

Cheers
R