shareholders who want to vote no........, page-62

Hi RAW


Let's do the calculations on tz guys!

2 tcf of gas!

Natural gas at 4.35us per 10000 mmbtu's

= ?

I'll try to work it out

I reckon 1MMbtu = 1,000cf
1,000cf =$4.35/MMbtu

So 2tcf @ $4.35/1,000cf
= $8,700,000,000US or $9,666,666,000AUS (0.9US/1AUS)

Of course you have to take out expenses and the fact Key has only 20%
Still big numbers.

Unless my calculation are wrong, youll have to ask yourself why would the board want out?

If you look at the risk/reward,

RISK - you cant sell the gas, and the spend on the drills are lost($7,000,000)

REWARD - you commercialize, and the true value of the asset is realized
Key would have a M/C substantially higher than $8,000,000 we have today.
I guess, if Key and partners get this project to its full potential a M/C S200,000,000+ wouldnt be out of the question?

By the way, Ken we know your one of the regulars on this thread , could you please peruse these numbers and your thoughts would be appreciated.

Thanks in advance.