Mnazai Bay gas discovery southern Tanzania producing from three...

Mnazai Bay gas discovery southern Tanzania producing from three wells, the gross gas column of which is smaller than Key Petroleum's, producing at 20 mmcfp/d from each well - reserves of 1.2 TCF.

Don't you love how the management secured SS West acreage before announcing the production rates? Shrewd.

Key are Operator of the SS West and maintain 50% through wholly owned subsidiary Funguo Resources ('Keys' in Swahili!), while Aminex wholly owned subsidiary Ndovu ownes the other 50%.

Given 8M cash in bank and shallow reefs from which to drill, I would not rule out a well before the end of the year, given delays with Po Valley Drilling.

Key Petroleum are fortunate to have an excellent group of ENI and Agip people working for their Italian subsidiary Puma Petroleum - the Po Valley is ENI/Agip backyard for 100 years now.

Hopefully they can flog the Nambia permit for 100M+ if Steinteneftengaz find the 'billions' of barrels of oil they are after (according to the CEO), of which he is '70%' sure - Chairman Ted Ellyard did this exact thing offshore Mauritania, acquiring from ENI and selling to BG for 99M profit.