Share price now down to 10 cents this morning, WHY?Last weeks...

Share price now down to 10 cents this morning, WHY?

Last weeks report is WHY.
First we have the uncertainity of the potential 70,000,000 SPP and the obvious dilution to long term holders for the short to medium term.
In addition;
Kiliwani North, "further developments are awaiting on the Tanzanian government to grant permission to Songas to allow expansion of the gas plant on Songo Songo Island."

On shore Italy (Borsano Permit)
"various envirinmental issues are causing the company some concern."

Offshore Italy;
"Key continues to await confirmation of the transfer from application to granted permit status for its offshore areas."

Suriname
Key net equity 1.75% indirect;
1.75% says it all,

UK- Onshore Southern England;
The development costs of this to "potentially" improve production volume will leave the company with next to no cash reserves.

Now we see the sp this morning at $0.10 and if they go ahead with the SPP to Sophisticated/Institutional investors at a 20% discount this will see the share price at $0.08 or less and with 70,000,000 extra shares they would need a miracle for the sp to reclaim any headway for the forseeable future.

I have tried to find some positives but i'm afraid they are just not there, unless the Tanzanian Government pulls their finger out and immediately approves the expansion of Songas Key will join the ranks of the "penny horribles"