R yes maybe they should just take a massive punt. There have...

R yes maybe they should just take a massive punt. There have been numerous oil shows on several wells drilled in the immediate area where KEY are drilling Kilwani North #1, but to date there is no commercial oil discovery offshore Tanzania, and correct me if I am wrong, but I don't think there is any commercial oil discovery on the whole East African coast.

I know that Songo-Songo was discovered by Royal Dutch Shell in the mid 70s, but due to a lack of market they had to abandon. It was then developed by Songas in 2003. So who knows, maybe someone found 10mmboes oil and abandoned due to lack of market and depressed oil prices...

Don't forget Kiliwani North #1 also prospective for 10 to 15 BCF gas... 3BCF for KEY will at least add some cents to SP...

IMO SP will not be hit that hard if they don't find anything because a discovery is not factored into the SP at the moment. In fact, I think another duster has been factored in.

Anywho, I just really want them to get cracking on Italy. I would LOVE to see some seismic for Lampedusa considering the recently revealed billions of barrels plus prospectivity of Cairn's adjacent permit - this bodes well in the extreme for KEY's Lampedusa. Seismic like this would have SP rally to 20s IMO.

Options expiring March 09 at 35 cents. Management will be doing everything possible to get SP to around those levels by that time. Expect news on Lampedusa before this time. Hopefully Borsano will be drilled before then...maybe a two-well program?

I have attached here a presentation from Brian Hall of Aminex that he did in 2003 talking about oil prospectivity of Tanzania. It's pretty much the only credible information you can get on the whole internet that talks about TANZANIA and OIL...

Take a look it's a PDF.

www.aminex-plc.com/Resources/AminexProbiConf.pdf