Uk oil acquisition is in keeping with KEY's master plan which from memory was to get early cash flow.
Tanzania met the criteria as it had/has infrastructure in place and pumping gas to Dar but the Gov't officials have put the brake on this I suspect to cut a better deal or back hander.
This UK venture replaces the tanzanian one for the time being.
Why keep $7m in the bank and dwindling when it can be put to work for a great return - turn $4m into potentially $35m ? ,,, better than bank interest rates on that $4m.
Another benefit to key is utilising its employees to figure out how to increase the BOPD in the Uk rather than sitting idol waiting for gov't approvals in Italy/Tz?? Maybe I got this last point wrong.
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