KEY 0.00% 0.1¢ key petroleum limited

so, ken and ted did not put any $ in this spp!, page-4

  1. 17,111 Posts.
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    I wonder why we are drilling these WA wells if management don't think they are worth investing their cash in KEY.

    Surely funds would have been better used in the UK? or even better kept for TZ (but we are MANY months past that now with millions seemingly misspent)

    Looks like we are going to be taken to the cleaners on failure here but I still think we **could** reclaim most of our capital on failure by immediately shutting down the company activities, selling the UK and TZ for whatever we can get and winding up the company. Anyone else think this is the best solution to recoup mounting losses or are we to persist burning cash while TZ idles?

    If WA wells fail as most on here think they will( judging by management participation I guess they agree) we would again need a new board to force this company to be wound up.
    The current board is unlikely to agree, and the last coup attempt members also seemed to be in it for themselves with even worse dilution plans for us.

    If the board sells TZ then imo KEY MUST be wound up and the funds returned. The track record of cash is spent here is too poor to keep the company running.
 
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