more field size prognostications..., page-7

"A similar arrangement will be entered into should gas
be recovered from the Tanzanian Licence." Prospectus pg 75.

"Should natural gas be produced from the Tanzanian
Licence, the Tanzanian Government has warranted that
it will grant access to the Songo Songo pipeline (and
any other pipeline reasonably required)."

Kalm perhaps you have read the above re gas but believe "similar" includes the possibility of a more favourable deal on gas? If so, what would be the rationale on the Tanzanians' part to be more generous on the gas?

I must confess I bought into KEY unaware of this term of the deal. It's not exactly trumpeted in the presentations! I would have thought it ought to be, given its potentially significant bearing on the company's value. On the other hand they're obviously going to be taxed one way or another and need to pay for access to the infrastructure.

No doubt I'm merely demonstrating my ignorance. And it's inexcusable not examining the prospectus closely before committing funds.

In my brief discussions with the MD, I did get the impression he was very excited about the prospects of the area. But then again you would hope he would be enthusiastic.

This is my first venture into O&G so am fumbling along a little bit - as no doubt is clear!!