KEY 0.00% 0.1¢ key petroleum limited

Rathmore (and others who are ill informed),C'mon guys! If you're...

  1. 259 Posts.

    Rathmore (and others who are ill informed),

    C'mon guys! If you're going to make any kind of meaningful investment in a speculative oil & gas play such as Key Petroleum then the least that you can do is build a decent foundation of knowledge of the Company! The rig used by the Operator in 2003 was the F200 owned by Dafora Drilling of Romania. The current rig being used is Caroil-6 of French Company Caroil. Unless you are dyslexic, these are not the same. And you honestly believe that the Operator - which is involved in several continents and is producing from a myriad wells - is going to contract the same rig that plagued operation to the point of P&A in 2003. C'mon...

    The Operator is currently preparing casing which cannot be done overnight. It takes time.

    And forget about Suriname. The Company has embarked on a two-well program that - if successful - will result in ballooning market cap for Key. Key retain piss-ant 1.75% of project and Tullow probably just cannot be bothered letting Key in on what is happening. Tullow have bigger fish to fry.

    Patience is the KEY. And if anyone can't sit still then get out now. Its gonna take a long time for this Tanzanian drilling program to be finished IMHO, despite what Key maintain (Spud Kiliwani North #1 January 1). And Borsano in the first half of this year seems super optimistic IMHO.

    But stick with it. You'll feel like shite if you get out and Key attain targets in Tanzania and Italy and SP is $2.

 
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