tz exit, page-2

Agreed Roznov, very cheap pick up by BUY for 5% of Kiliwani North Development Licence (including the Fanjove lead). $250k cash outlay, 4/5ths of which is KEY's share of development costs and about 7.8 to 8m shares in BUY or about 1% of their shares on issue.

So looking at the proceeds from the sale of our old assets it looks like the market had grossly overvalued them considering what our market cap was prior to the Canning deal compared to what we got for the assets. In hindsight, perhaps KR should have accepted the offer from RAK Gas.

Oh well, at least the KR & TE episode of KEY is now firmly behind us, now for an announcement on the final approvals to drill Cyrene #1 and the spudding.