june 2008 investor presentation released, page-17

I agree Nyuni and SS West are obviously very highly prospective for gas, it's just a shame this isn't reflected in the SP.

Borsano is not only an oil play. The Po Valley is home to 13 TCF gas, and only 400 million barrels oil, 250 of which is 6KM away from KEY. Two dry wells have previously been drilled in this permit, and the 2007 Annual Report clearly states that a shallow gas target, termed Borsano-1, was identified between the latter two failed objectives. The company has only ever discussed this prospect, and no others in the Borsano permit. So it appears that it was only ever going to be a gas play, not an oil play.

I am well aware of PVE, I have mentioned them thrice in previous posts - and deary me, their $157M mkt cap is oh so enviable! And it looks like that actual Key Petroleum directors themselves concur with Italy's hydrocarbon prospectivity, given it is the only well they will be drilling for nine months, and have put this before SS West and KN-2, and are interviewing full time staff for their subsidiary Puma Petroleum.