when will our $4m be spent

That's the burning question, and on what is the other.

To think in Sept 2010 KEY were talking up Lidsey, saying they wanted to drill in Q4, stating approval process was close to finalisation.

Then nothing, until Jan 2011 when KEY said they are still preparing for drilling. And looking at a number of UK onshore opportunities for drilling participation in 2011

At the same time, we were told that only 800k was to be spent in the next quarter on exploration and evaluation, basically saying to the market, we will not be doing anything until April 2011.

Well, they got that right, lol

To be honest, i would not be surprised if KEY postponed Lidsey again and used some of the $4m on another jv in the UK.

KEY did get one thing right, which was a prediction in 2009 that Oil prices would go north and they wanted to position the company to benefit from this via UK.

We just need them to execute this now!

Cheers
R