3 to 4 days away from a result, page-26

KEY Petroleum find is a new structure, separate from Songo Songo and there were also some minor oil shows.


This from the Aminex release in London:

"Preliminary evaluation indicates a gas-water contact approximately 30 metres deeper than at the adjacent Songo-Songo Gas field. This is a positive outcome for the potential of other exploration prospects and leads in the Nyuni licence area. This deeper gas-water contact demonstrates that the KN-1 discovery is in a separate structure to the Songo-Songo field and this further enhances the prospectivity of the remaining leads and prospects within the Nyuni licence."


KN-1 also encountered minor oil shows in the Neocomian reservoir section, as well as confirming the presence of potential reservoirs in the Tertiary section at an earlier stage in the well.



I agree this has more to run when the markets settle. I basically sold a few things today (KEY / KEYO included) because I think tonight will particularly bad in the US leadiong to weaker markets tomorrow. Hope I'm wrong though.