Hi SJB, Thanks for sharing KMs response with us. IMO he is a...

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Roznov

1,089 Posts.

11/12/14

19:35

Post #: 14447609
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Originally posted by sirjohnnyboy ↑

"Dear Sir,

Thank you for your interest in Key Petroleum.

As stated at our AGM, in which we had glowing praise from several shareholders for our responsible approach to costs, we are planning on executing Perth basin activities after the fire season in the Perth Basin and after we have evaluated rig options for production testing Dunnart-2 and considering follow up drilling. We are using the current opportunity to plan for 2015 rather and will release news when and where it becomes material to fully inform the market.

It is important to note that the oil price, both West Texas Intermediate and Brent Crude have declined approximately 35% in the last few weeks. The small ordinaries index (XSO) has also declined around 30% since September. The share price performance of Key is in line with both of those trends.

As opposed to other small oil and gas explorers, I would point out the following:

1. Key is the lowest overhead operating oil company in Australia;
2. Key has only two fulltime staff and puts the majority of its capital into projects;
3. Is an active player in both the Perth and Canning basins; and
4. At the end of the last quarter had almost $3million in cash and we would challenge anyone as to what other companies with a similar market cap have cash and low overheads.

We have also undertaken one capital raising in the last 2 years as against other juniors who have undertaken several capital raisings during that period of time.

As a Director I cannot advise you on whether to buy or sell shares so I suggest you speak to your financial advisor or stockbroker but in the interim assure you we will be active in 2015 and do everything in our power to maximise shareholder return with our resources.

Please do not hesitate to contact me if you need further clarification or guidance.

Regards

KANE MARSHALL
MANAGING DIRECTOR"

...answers some questions and keeps the situation in perspective for me anyway.

Cheers,

SJB

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Hi SJB,

Thanks for sharing KMs response with us. IMO he is a true professional MD who tells it as it is. KEY holders are so lucky to have him in their corner. Happy to ride this turbulence out.

Cheers
R

KEY Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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Hi SJB, Thanks for sharing KMs response with us. IMO he is a...

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