SS,Nice post, you have been busy indeed. Excellent news...

SS,
Nice post, you have been busy indeed. Excellent news regarding Borsano, a real bonus if they can retain their 100% interest. Normally I am not one for a cap raising given it will dilute the shareholders, however it is definitely an option for them. My only concern is at what price given the current state of affairs with the global economy. If either Kiliwani 1 or 2 is successful, they might try to raise the capital off the back of any success when interest in the stock is high.

Borsano does look like a 3rd quarter job, however given Kiliwani 2 may not even start to March some time ( a rough guess only ), there will be plenty of action to keep the spot light on KEY leading up to that. ...imo.

With their offshore permits, I must admit I have not really looked into them as closely as you have but there does appear to be plenty of upside potential there.
With regard to their current SP, I personally think it is quite laughable to have almost as much cash as their market cap, however if you look at Oil & gas explorers / producers in general, there are a few which have plenty of cash but depressed SP's at the moment.

Anyway, I am hanging on to my hat along with my holdings which I have a very tight grip on, ha ha

All the best

Cheers
R