excellent announcement be patient , page-6

Revilo...

What was the purpose of today's announcement?

In short, there is nothing in there that needed to be announced, as such any argument about only releasing when they have difinitive results sort of becomes contradictory.

Arguably they dis not have to announce anything today, but if they are going to tell us the well is likely to be commercial, as they have clearly intimated in today's announcement, then their is no reason why they cannot furnish it with as much detail as they have.

For example, the shut-in pressures will not change much, as such they could easily be released.

What were the clean up flow rates...this will give us a clue to likely commerciality.

Fact is, they have chosen to hold this information back until a workover/production rig can be installed, one assumes becasue they were not significant enough to warrant early release.

Aswer this...if they achieved 20mmcf/d on clean up achieved something in the order of 8000psi during shit in...that they would not release to the market?

Therein perhaps lies our clue.

As I said, I like KEY still, expect this well to be commercial, upgrade the entire lease...and indeed feel this makes current prices cheap...but I am no longer expecting the sorts of significant results that would see the stock gap up to 50c+ and rest at prices nearing $1.

In this regard, I have simply reduced my exposure by half, with that remaining adopting a more investment oriented focus.

Cheers!