KEY 0.00% 0.1¢ key petroleum limited

- Spend $2.25m drilling North Perth Basin October/November 2010....

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    - Spend $2.25m drilling North Perth Basin October/November 2010.

    - Defer plans to drill Lidsey #2Hz indefinitely, drain on company resources for minimal return to date and rhetoric from KEY has waned of late suggesting that the prospects are a fair bit lower than first indicated.

    - Forget complete divestment of assets in Tanzania, consider farmout of WSS for free carry of at least first well.

    - Market the company's more prospective assets effectively. Forget focusing presentations on the minnows of UK & North Perth Basin, forget the perennially delayed Italian assets and focus presentations on the Tanzanian assets (in particular update KEY's figures to correspond with Aminex's estimates).

    - Raise $5m for drilling of Nyuni #2.
 
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