Yes - they are approaching 1 million in non exploration expenses. High spend for a 6m cap company.
More selling this week, indicates the current well is also likely to be a P&A IMO. No real surprise there as it was always going to be high risk.
There is always a chance that they have confiscated the phones from the drill crew, and we might get a surprise discovery, but in the light of the sell down during the prior drill, I think a good result unlikely.
The real question is how much further KEY will fall on an announcement to that effect.
Considering KEY is trading at a significant discount to cash backing, still has other projects in the pipeline and has a small free carry in Suriname; any drop from 6.7c is likely to be short lived.
It would be great if the selling is out of the way, but there will probably be a late panic from somebody.
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