tz gas and energy, page-35

Barring some miracle early next week, I too am voting no.

For those intending to vote, just be aware that the votes have to be in 48 hours prior to the meeting. Due date is therefore Saturday, which means they really have to be received by the company on Friday if you want your vote to count.

Also, make sure you ring the company to confirm receipt of your proxy and that it has been completed correctly according to your wishes.

If posters are being straight up, I'm tipping there should be a fairly large no vote.

I'm holding, and to be truthful am becoming a little disillusioned by the lack of progress on all the main fronts (Tz and Italy). I didn't participate in the 1 for 2 raising, so have been diluted down (my holding is still pretty large anyway), but I felt there were much better risk return plays available on the market (I based my assessment purely on the likely NPV for the UK assets only, to give me the upside and downside risks for the UK purchase, and ignored all other assets entirely just in case the ASX hit the skids again).

Thankfully other recent positions I have entered have more than compensated, which helps take the pressure off with how badly KEY has performed. It definitely makes me less despondent about KEY. I would be headless otherwise.

I do think KEY will still shine at some stage, but a massive dose of patience is still required. It may even be that the longer term possibility of LNG tankers into Europe will be the way to go for the Tanzanian assets, but this will require drilling success by Maurel & Prom and others to provide the required reserves to justify the development costs.

If you can afford to hold, upside potential far outways the downside risk. The real killer, though, is the opportunity cost whilst other stocks are rising and the market is still positive overall.

Good luck to all holders.