KEY is an interesting one at the moment.
Market depth gives no clue as to which way it will go in this market. Up in the anticipation of some news about production/sales from KN#1? Or down under the weight of forced selling by distressed investors/traders?
KEY announced earlier this year of a great gas find off Tanzania and only 3km from processing plant/pipeline to the capital. They backed it up with a solid flowtest and hints that the size of the find could be quite significant.
Seismic is due before the end of the year as well as news on production/sales from KN#1. The questions are when will they announce definite production/sales news and will the size of the find exceed market expectations?
The next announcement is due in about two weeks, that being the 1st quarter activities/cashflow statement. Will there be news forthcoming then or will it just re-affirm what facts we already know?
market depth
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