"The Company is participating in a multi-well drilling programme in Suriname, through its 50% shareholding in Portsea Oil & Gas Pty Ltd. Key has a 1.75% free carried underlying interest through an agreement with Hardman Oil and Gas Pty Ltd, a Company now owned by Tullow Oil plc. Both areas are located adjacent to Suriname?s main producing oil fields, Tambaredjo and Calcutta, During the year, Portsea?s interest was being registered onto the permit title, rather than as underlying interest held by Hardman Oil and Gas Pty Ltd."
Bit of a relief that asset still exists.
KEY Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held