tanzania, page-79

The Tanzania chapter is almost at a close.

We started with 20% of Nyuni, were involved in three wells with one success, one failure and the jury is still out on the last one, but for KEY it was a failure.

We signed up for 50% of West Songo Songo only to obtain 100% in return for giving up 15% of the Nyuni PSA and the Kiliwani North development licence.

We now have just 5% of one block of what used to be the Nyuni PSA. West Songo Songo went quietly into the night at some point, presumably due to us failing to meet the work requirements in order to retain the exploration licence.

In the coming days or weeks we will have sold off our remaining Tanzania asset, the 5% of the Kiliwani North Development Licence.

5 years ago it was the Tanzanian assets which particularly attracted me to KEY, unfortunately due to poor performance and denial of access to the supposedly open access gas plant & pipeline has seen our one success languish to, so far, no avail.