"The Group has expenditure commitments relating to work...

"The Group has expenditure commitments relating to work programme obligations of their assets of $6,506,000 which potentially could fall due in the six months to 30 June, 2011. $5,000,000 of these commitments relate to the requirement to drill a well in the Tanzanian West Songo Songo block in the first half of 2011. However, drill rig availabilities may limit the Group?s ability to drill within this timeframe. The Group is currently in talks regarding options for the divestment of its share of the West Songo Songo permit however there can be no guarantee that divestment will occur.

The ability of the Group to continue to pay its debts as and when they fall due is dependent upon the Company successfully raising additional share capital, continuing to enhance and develop its oil producing assets, possibly divesting some assets and ultimately developing its other assets."

The above is an extract from the companies half yearly report just released this week!!!

IN SHORT...KEY IS A DEAD DUCK!!!
When the exploration committments fall due KEY is insolvent.
I wonder why considering the companies current predicament there has been no effort to reduce their outgoings such as consultancy fees, directors fees, management fees etc???
If and that is a big IF...they manage to sell anything what will we shareholders have left???......."STUFF ALL"
WELL DONE KEN & Co, YOU HAVE BLED YOUR SHAREHOLDERS DRY!!