future opportunities is the key as well, page-3

Bionic Boy, let me fill you in.

Hardman Resources Limited was a Company operating offshore Mauritania from 1996 to 2004. The Company's market cap grew from less than $5 million to over $1.5 billion during the time period. The Comapny was helmed - for the whole 8 years - by Mr. John Edward (Ted) Ellyard. He quit as CEO in 2004 due to a health scare. Now he's back as chairman of Key Petroleum.

Terence Nielsen was head teachnical director of Hardman Resources from 1998 to 2004. Now he is head technical director of Key Petroleum. In addition, Richard O'Shannessy was a director of Hardman, and is now a director of Key Petroleum.

And CEO Mr. Kenneth Russell has worked for Hardman Resources, Shell, BHP Petroleum and the biggest and meanest Oil and Gas Company in the world... Chevron.

It was our chairman Mr. Ellyard that made the 500 million barrel oil discovery offshore Mauritania -I think this one was called Tiof. He anticipated 20 metre oil column and was actually 120 metres. This was after he discovered Chinguetti, which was thought to be holding 200 million barrels, but appraisal shows only 80 million. Shell own these assets now - I think.

The connection with MAK is that our chairman Mr. Ellyard, finance director Denis Wilkins and director Richard O'Shannessy are all involved in similar positions at MAK.

Yes - an appraisal well is what will define the size of the target and honestly, one well probably won't be enough. In trying to glean a bit of extra information from the announcement it seems that they plan on getting it all done in less than a year or so, - or in the 'short term.'

The structure is different to Songo-Songo, so it is a different discovery. They will call it something else, like 'Kiliwani' for example - due to the fact it is a whole new discovery. So take your guess as to how big it might be.

SS.