Looking at the Notice of Meeting it looks like Ken thinks we are...

Looking at the Notice of Meeting it looks like Ken thinks we are all idiots.

Background to and reasons for the Acquisition

Key has gone through a difficult period over the last 12 months which has seen us struggle to deliver value from our current portfolio of international assets. Some of the events which represented difficulties for Key are as follows:

1) the unfortunate delays due to financial constraints meaning the Company has been unable to drill a development well at our Lidsey prospect in England in the timeframe originally planned;

2) the decision by the Company to dilute our interests in the Nyuni PSA in Tanzania due to what we foresaw as significant capital expenditure requirements over a long period of time with no guarantees of commercializing successful exploration and thereby deriving short or medium
returns for shareholders;

3) the lack of success at two wells drilled in the North Perth Basin following a 45% earn in with Calenergy; and

4) some shareholder unrest resulting in a requisition to restructure the then board in August 2010.


Ok, so lets break this down. Ken & the BOD are giving KEY assets to Zeta through a backdoor ASX listing because:

1) They twice raised capital to fund the Lidsey #2z well yet have squandered the money through squandering the money on non-performing assets and corporate costs.

2) They have given away the majority of our most prospective asset just as real progress on commercialisation is occurring and against shareholder wishes.

3) Blind Freddy could see this was a bad purchase, a search of google threw up major concerns about the prospectiveness of this licence yet KEY still went ahead and squandered money on it anyway. Why? To make it look like they were actually doing something?

4) You must be joking??? This has to be the dumbest reason for "acquiring" another asset, some shareholders tried to lead revolt against us so we'll punish them by selling our best asset and acquiring yet another crap one! Then we'll jump ship on them.

Seriously Ken & BOD, these are the best reasons you could come up with for "acquiring" Zeta???

Are we that dumb?

I WILL be voting NO!