options, page-13

Mudguy, which buy order is yours? 230,000 options at 4.4 cents or one of the higher priced bids?

Costs of bringing KN#1 into production? Cost of KN#2 & seismic? Don't forget KEY only has to outlay 20% of those costs, not 100%

If Italy doesn't go ahead then KEY's need for cash in the short term is reduced allowing it, and it's partners, to fund bringing KN#1 into production as well as further exploration of the Nyuni block. Indications are that KN#2 won't be drilled until after KN#1 is producing.

If the share price is not close to the option exercise price early next year then I strongly expect to see KEY doing an investor roadshow pumping up the prospects of the company to drive up interest and the share price.