wild guess, page-30

Guys I posted something a little while back about trusting management to do their thing, and feel the need to comment again.

Everyone seems to think we should have had some form of announcements out about the projects etc, and I would remind people of things we already know:

TANZANIA:
KEY aren't the operator of this project. They can only release information once the operator does. There are also extremely slow government systems, and trying to get something done is like trying to push a 1 tonne rock up a hill with a bicycle. There has a be a large level of patience with this project. However when something does eventually move, this year or next year, the potential is huge. Everyone knows this.

One other thing to note. The new 'massive' interest in East Africa has probably caused alot of the resources such as scanners, rigs, etc and related companies to suddenly be very busy in the area, hence it would probably take longer to get anything done regarding drilling etc.

ITALY:
Again slow government approvals seem to be massivly holding up offshore tennemants and progressing with exploration. Again the prospectivity of this area must be pretty good if KEY still want to hold onto it. So potential is still there, but patience is heavily required. Onshore - well that seems to be the same analogy with the rock. Not expecting much from there.

UK:
That is probably where we should be recieved some information about drill rig contracts etc. We won't receive oil production/cash-flow updates until the quarterly report. Anything else expected on that is just asking for disappointment. However I have no doubt in my mind that they are pushing to get a HZ well drilled an increase production.

SUMMARY:
Expectations to get news on Italy and Tanzania will only be met with disappointment. What we are having to wait on is out of our hands. UK we should be expecting some news. However we should not expect a regular report saying how many times they wipe their backside or other useless information. Other companies do it, but ours doesn't. Why expect more than we have been receiving? When the information is ready, and can be shared, I beleive they will do so. Till then there is no need to expect to hear anything.

Finally (sorry this is a bit long like my last one), there are investors like myself who like immitating the tortoise, rather than the hare. If you would rather be a hare, there are plenty of other shares out there. Just remember the story - the tortoise won the race!