Quite remarkable trading in Key today, up and down like the...

Quite remarkable trading in Key today, up and down like the proverbial pair of knickers. Lots of daytraders scared witless by the post opening sell off. Be an interesting exercise in the psychology of the market to track all the trades.

Fact is 40 mmcf a day of gas at say US$10 an mcf is worth a gross US$4 million A DAY to the JV. That from one well. Add 40 barrels and you get a tad more. That's big money by anybody's standards. 40 mmcf is as much as Petsec produces from all its US wells together. And it is 40 times the average production from a good QGC coal seam gas well.

So here we have Key with almost $1 million a day in potential gas revenues from a new field that has hardly been scratched.

And yet at 40 cents it is worth just $34 million in market cap (86 million shares or $52 million fully diluted. Thats nuts. The upside from here is huge