june 2008 investor presentation released, page-40

Hi T4P,

A very interesting situation for sure at the moment. Whist I cannot say I understand what is going on with the sp at the moment, personally I would be amazed if they tried to raise additional capital right now given their drilling schedule released yesterday. With $$$$$ in the bank, and expected inward cashflow as early as Dec 08, you have to ask the question "what would they do with the funds NOW" Unless they are on the prowl for additional assets, but I am not sure this is the case.

If I was KEY and wanted to raise funds, I would do it off the back of either the estimate on this well, or when the cashflow numbers from production are released. Either way, @ 30 cents, it seems a bit crazy to raise capital at the listing price from last year given they have now found gas.

Anyway, all this is just speculation on my behalf.

By the way, I very much enjoy reading your posts which are informative and always supported with excellent rationale.

Cheers
R