sandys 2 cents worth, page-16

Flowrate and gas quality above all else is key for KEY here. No flowrate, no backslapping and KEY moves lower. As previoulsy stated and announced that relatively small flowrates should be economic and provide some near term cash flow.

The upside case for KEY, perhaps +10MMcf/d from just KN1 would provide more significant near term cash flow and upgrade the other prospects on the Nyuni block. Further development wells would also be progressed lifting field production. The KEYO options would also come into play here.

IMO KN1 is not the last ball in the cannon for KEY however confirmation of flowrates would transform the company into a serious east african gas play and provide further leverage to explore the Italian blocks.

Just my 2 cents

DYOR