G'day holders,I rang KEY today, they said they would call me...

G'day holders,

I rang KEY today, they said they would call me back. Sure enough an hour or so later the phone rang.

I didn't want to load my questions so they werent answered, so I asked a few basic questions that seem to pop up here a fair bit.

This was a conversation with Rick who was very professional but also relaxed and offered a genuine conversation who listened with intent.

Conversation with Rick from KEY at 1326 15 Jun 2020

Q1. Where are KEY’s priorities for commencement of a drilling program Perth Basin, Cooper Basin or both?

A.I would have to say Both

Q2. Has the reawakening of the Perth Basin through recent conformation of WA government plan changed KEY priorities?

A.I’m not sure what the WA governments plans are your referring to?

Q3. There has been a bit of buzz around Perth Basin being a priority and to move gas to the east coast.

A. Certainly some of the other operators within the within the Perth basin are quite excited about that. We do recognise, in particularly our L7 block we think is quite valuable in that regard that it’s in the northern end of the plate fairway where the most recent discoveries have been made so yeah we do see quite a lot of potential there.

Rick. The domestic potential has a lot more value now, I could say that a lot of the companies, even over the last few decades, when oil and gas was pretty hot space, if they had international assets they tended to be undervalued anyway people didn’t understand the value. Certainly now there’s more of a focus on domestic supply and being self-sufficient so I think a lot of that will come out in the next 12 months.

Rick. We are looking ourselves but some of the companies have recently made announcements about hydrogen as a fuel of the future and the federal government has made announcements about that so some of the Oil and Gas companies operators are looking at that.

Q4. With the easing of COVID-19 restrictions, is KEY poised and ready to commence operations and will this be released to the market in one announcement or rolling announcements based on state of operations?

A.There will be notices specific to each of the assets, we will have announcement that are specific to the assets.

Q5. Was RED Emperor’s decision to not exercise its option over Perth Basin Exploration Permit seen as positive or negative to KEY. I mention this as Pilot Energy SP seemed to respond positively to this announcement.

A.Unfortunately that’s one question I cant answer at the moment because there’s a lot of things at play at the moment



I hope this helps anyone. It did for me. I'm sure there were plenty of other questions I could have asked but overall I have more confidence in this company based of a good old conversation.

Cheers