I noticed April 2008 is the month in which Key plan to drill...

I noticed April 2008 is the month in which Key plan to drill their 100% owned onshore Borsano permit of the Po Valley, northern Italy. I think further delays can be expected here. The permit will probably be farmed out. The bloc was supposed to be drilled late 2007 early 2008, however it is now April 2008 due to 'change in Group Structure.' I'm not counting on April 2008 - however this would be fantastic. Key have defined a potential gas target for the permit which has been named 'Borsano #1.' Key have explained that targets in this permit are for shallow gas plays and deeper oil plays. Any kind of commerical gas discovery would be welcomed as a huge success due to the fact that - unlike in Tanzania - the Italian gas prices are among the highest in the world.

Po Valley Energy has 60BCF 2P reserves in the Po Valley and market cap is 130 million.

Key market cap is 86 million at SP $1 a piece.

Borsano permit is 8km away from 250 million barrels of oil Villa Fortuna/ Trecate and less than 10km away from commercial gas discovery Brugherio - the resevres of which I am not sure.