# KEY - Key Petroleum



## Ruprect (18 April 2007)

Thought we should start a thread on Key Petroleum, to be listed next Tuesday.

A $19.2 million ipo, shares at 30cents each. Was closed heavily oversubscribed after only 4 days. Was underwritten by Blackwood securities and Commsec.

The "key" to the success of this one lies in its leadership. Its Chairman is Ted Ellyard, former CEO of Hardman Resources who took that company from a value of $5 million to $1.5 billion during his time there.

Including seeking to identify more exploration targets, KEY will on listing: (from the prospectus)

_Start earning a 20% interest in the 1300 sq km Nyuni block offshore
Tanzania by funding 30% of the cost of drilling two wells in 2007.

Own a 100% interest in 1 onshore petroleum concession in northern
Italy covering a total area of 318 sq km.

Own a 100% interest in 4 offshore petroleum application blocks in
Italy covering a total area of 2702 sq km.

Own a 1.75% Free Carried interest in 2 onshore petroleum
concessions in Suriname covering a total area of 3326 sq km._

Id be expecting some good institutional interest in this one, given Ellyard's reputation. And given the oversubscription, and very early close, if it was to open at a good premium to the 30cents, i wouldnt be at all surprised.  

The Age did a review on this a month ago.

http://www.theage.com.au/news/busin...r-key-petroleum/2007/03/18/1174152881196.html


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## yogi-in-oz (25 April 2007)

Hi folks,

KEY ... may be another one, that will be less-than-spectacular,
until a positive cycle comes into play, around 25 June 2007 ... 

Listing on 26042007 now and no doubt "Ted's disciples" will be
all over this one trying to push the price up, from get-go, but
from the cycle analysis, the day after listing is looking 
particularly negative for KEY.

Expecting May to be a volatile period for KEY, particularly
around 11-18 May 2007, so KEY may be a good one to
observe, until the next set of positive cycles become evident.

have a great day

   paul


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## Ruprect (26 April 2007)

Open 30.5cents. Perhaps they should have put the word "Uranium" at least once in the prospectus...

This one has a way to go yet, fundamentals and company leadership will kick in and id expect some more positive movement.


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## Ruprect (26 April 2007)

AAP report on the KEY listing today.

Oil and gas explorer Key Petroleum Ltd is turning its sights to Tanzania after a steady debut on the Australian share market.

Key chief executive Ken Russell said the main focus of the company will be Tanzania, where it owns the Nyuni block, adjacent to the producing Songo Songo Gas Field, located offshore.

"We're going to commence drilling there in June," Mr Russell said.

After that, he said the next priority would be to grow the business with additional buys.

"Once that's done, then we'll look at projects internationally and locally - anywhere where a project comes up that we think could be beneficial to the growth of the company."

Key debuted on the Australian stock exchange on Thursday at its 30 cents a share offer price following an oversubscribed initial public offer of 64 million shares to raise $19.2 million, which closed early.

The oil and gas explorer offered over 70 per cent of the company to new investors to fund growth, and has scheduled drilling to begin in the middle of 2007.

The shares closed up 0.5 cents at 30.5 cents.

"We're very happy ... it's a major milestone for the company to get to this point," Mr Russell said.

"The listing and the holding of the price shows faith in the investors."

He said both institutional and retail shareholders had joined the company's register.

In the six months before issuing its prospectus, Key entered the Nyuni block and bought the Italian interests of UK operated Puma Petroleum Ltd.

It also entered into a deal with Portsea Oil & Gas NL to buy 50 per cent of the company, becoming part owner of Portsea's Free Carried interest in Suriname, in South America.


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## sfx (4 August 2007)

Hi all,

Just wondering if anyone out there is actually following KEY ?! 

I'm interested in hearing about anyone's thoughts over this company's prospects, especially in lieu of the reputation of KEY's Non-Executive Chairman Ted Ellyard....

Cheers and may the market be in your favour - up or down !


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## surfingman (4 August 2007)

I have been following KEY I had a few shares for a period when the Tanzanian drilling was originally suppose to start, I sold out and will look to get back in some time after the options are issued (record date has passed) or if there are some cheap oppies available, preferably when the Tanzanian drilling begins.

Looks to has some great potential as expected from Hardman Resources days...


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## Ruprect (6 August 2007)

Yep, following these, bought in the offer - and have topped up in the 20's. Still think it has a lot of potential, very good management, and had good broker support when listed. I will hold these long term, not interested in selling anywhere near these levels. The options will be a nice little bonus.

(BTW - i started a KEY thread a couple of months back - now we have 2. Mods, any way to combine the two? Cheers)


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## sfx (6 August 2007)

Hmmm missed your previous posts. Glad to see that they are now joined !

Following the downward trends of the share market, KEY has slumped recently, however, today it's bucked the trends of the other oilers I'm following - up a whole cent to 23.5 cents ! Ok nothing to rejoice considering its IPO of 30 cents a share, but a step in the right direction.

My view is that many are hedging their bets on the options, and a rights issue for 1-for-2 @ half a cent each, it sounds too good to be true. Time will tell I guess. 

Record date was the 26th July for the rights issue, so the buying trend on the back of that is over. 

Lets hope that there's an upward trend from here in - esp in lieu of the Suriname oil finds from their first JV shallow well drilled (see their latest announcement). I guess it's now a matter of how much, commercial viability, quality etc, etc... 

Anyone else's view appreciated here....


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## Ruprect (2 October 2007)

Looks to be some steady interest building here for KEY. Support around the 18.5-20 cent range. 

After delays in securing the drilling rig in Tanzania, it is due to arrive about now, with drilling to commence in the first half of October.

KEY have a 20% interest in the Nyuni Block, which has an operating gas field right next door, and pipeline infrastructure in place.

Managed to pick up some more options, (KEYO, 35c, exp march 2009) which are trading around the 5-5.5cent mark, with little volume being offered on the sell side. 

I will say that with the INP result yesterday (wow!), it will be good to see some interest coming back to Oil and Gas explorers. And with Oil at $80+us a barrel and gas on the way up, im surprised that they havent been getting more attention.

Any other interest here in KEY, or any other thoughts?


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## surfingman (2 October 2007)

Great management and some great prospects, Tanzania very shortly then Po Valley from memory early 2008.

Tanzania will be very exciting to see unfold, these guys know their stuff and have proven it previously with Hardman.


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## sfx (11 October 2007)

No news is good news for KEY ?! <I don't think so> NE1 know of what they're doing ?! 

With the recent delays, the options expiring March 2009 are looking more and more to be a fizzer ?!?

Comments, NE1 have a crystal ball !?


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## Ruprect (12 October 2007)

18 Months till the expiry on the options. Thats a very very long time, with a lot planned in between.

The drill rig in Tanzania is due to arrive shortly, there were delays in securing it because it had to be upgraded. Unexpected, and not KEY's fault, its not their rig. Once it kicks off, we should see a lot more announcements to the market on its progress. There isnt a whole lot they can report when they are waiting.

There is a lot to come in the next 12-18 months as well, with the Italian drilling due to kick off either later this year or early next.

With the price of oil and gas set to remain very high, and interest in this sector gaining momentum, KEY will shape up as one of the more promising explorers IMO. Have a look at what happened with INP and ELK over recent weeks to see what can happen to a SP with some decent results. And remember, only about 70 million shares on offer here.

KEY are very cashed up, and have a solid management team. Im expecting good things. I currently hold both the heads, and have a very decent position in the options as well.


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## sfx (19 October 2007)

Ruprect said:


> 18 Months till the expiry on the options. Thats a very very long time, with a lot planned in between.
> 
> .... And remember, only about 70 million shares on offer here.
> 
> KEY are very cashed up, and have a solid management team.




Yeah I guess you are right. I'm in KEY as well, but with a plethera of other oilers out there (ie/eg, CIG/COE/TAP etc etc), its easy to side step KEY and get in with the others. 

I guess its a case of spreading the risk across several companies with an acceptable risk profile and sound portfolio of prospects ?!!!!!?


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## sfx (19 November 2007)

ASX and Media Release
Friday 16th November 2007

DRILLING OF KILIWANI #1 IN TANZANIA COMMENCES​
Drilling has started on Key Petroleum’s (ASX code: KEY) Kiliwani prospect in Tanzania with the well spudded on 15th November 2007.

Kiliwani-1 is being drilled from the island of Kiliwani lying approximately 1 km to the south-east of Songo-Songo Island and approximately 4 km from the producing Songo Songo gas field. It will be a directional well with the selected bottom hole location approximately 1,200 metres from the surface location. Drilled depth is planned to be approximately 2,500 metres and the target location is designed to test Lower Cretaceous sandstones which are the producing reservoirs at the Songo Songo gas field. The well will take approximately 40 days to drill to the total depth (TD).

Kiliwani #1, is the first in a 2 well programme. The second well, Kiliwani North #1, will test this same reservoir system but will also be targeting a shallower oil play.

Ken Russell, managing director and CEO of Key Petroleum said, “Our team in Tanzania did a good job to relocate the rig to the Kiliwani #1 well site. The relocation took less time than originally planned. We now look forward to this second phase of the project, the actual drilling of Kiliwani #1.”

During drilling operations the company will issue regular releases every Tuesday or at such times as material matters require an earlier release.


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## lazyfish (19 November 2007)

Glad to see a Key post. Key certainly looks interesting to me. The questions that I have, however, is how much more throughput can the Songa gas plant handle given that Songa field is already producing at over 200 mmscf/d, and the plant can only handle 70 mmscf/d. Also, does Aminex has access to the Songa plant at all? Key presentation says Partner has government gurantee to access gas pipeline. I understand that Orca owns the gas plant and all the producing wells. Won't they be in direct competition with Aminex and Key?


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## lazyfish (21 November 2007)

Answering my own questions here. I have confirmed that there is spare capacity in the existing infrastructure and compression can be used to increase overall throughput. Orca does not own the Songa Songa plant, and Key has access to the infrastructure. 

Given that the current capacity of the 6 wells in Songa Songa is over 200 mmscf/d, or an average of over 33 mmscf/d, if Key can hit that average (not being greedy here , things will look rather good. Using a profit of *3* dollars per thousand cubic feet,

33 * 1000 * 3 * 365 * 20% (20% interest) = 7.2 million a year. Current market cap is 20 million, with enough cash to fund the drilling of 2 wells in the area.

Tanzania is looking to increase gas power production as their hydro plants suffer from drought and could not supply power consistently. Aminex also has development (in oil I believe) in Kenya just up north. I hold a small parcel =)


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## sfx (22 November 2007)

Thanks for the post Lazyfish. 

I certainly hope that this share has some upside to it soon. I've held on since IPO and its done nothing for me, but go down and down. 

Mr Ellyard's reputation is the KEY for me, but I'm only going by market hype over his reputation - wasn't into oilers when he was at Hardman etc.

Fingers crossed that Tanzania delivers !


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## Ruprect (5 December 2007)

Nice to see KEY finally getting some recognition by the market - long deserved IMO. Drilling is well underway, and good announcement out this morning, indicating that Gas is present, and they are on their way to hitting the target zone. To me, it looks as if they are ahead of schedule on the drilling of Kilwani 1, meaning some possible definitive results by mid december.

_The well has encountered encouraging gas shows in the shallow section indicating potential gas in the target structure._

_Kiliwani 1 has been drilled to the intermediate casing point.
Encouraging gas shows have been recorded in the interval
1163-1241 m; indicating hydrocarbons in the Kiliwani structure.
Forward operations will involve running 13 3/8” casing , leak off
test and drilling ahead. The main target interval is at around
2340 m in Lower Cretaceous sands._


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## sfx (5 December 2007)

Ruprect said:


> Nice to see KEY finally getting some recognition by the market - long deserved IMO. Drilling is well underway, and good announcement out this morning, indicating that Gas is present, and they are on their way to hitting the target zone. To me, it looks as if they are ahead of schedule on the drilling of Kilwani 1, meaning some possible definitive results by mid december.
> 
> _The well has encountered encouraging gas shows in the shallow section indicating potential gas in the target structure._...




Yes indeed with 1,498,095 shares traded through the market today, there's a growing interest on this one.


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## sfx (23 January 2008)

If anyone's interested, KEY is at 2,257m MD for Kiliwani-1. Well TD 2,340m.

KEYO looks to be a reasonable entry for those who are speculative enough....


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## surfingman (11 February 2008)

Kiliwani #1 Plugged and Abandoned as per todays announcement.

I did some research at came to the conclusion KEY is undervalued at current prices significantly.

As per most recent quarterly 30th Jan 08

Shares Outstanding: 86 Mil
Cash on Hand: 12.432 Mil
Cash backing per share: 0.1445

Current Share Price: 0.09

Undervalued by about 37% on cash alone!!!

Does anyone know how payment is made for drilling before of after event?
I am guessing that what the exploration and evaluation 2.064 mil is for in latest quarterly to pay for Kiliwani #1. 

Estimated expeniture next quarter 3.5 mil even after this cash per share would still be:
.103 per share


Kiliwani North #1 could add 0.20 to SP 
This is an oil play with possible gas to begin drilling once rig is dismantled and moved. 

A quick figure on Oil alone.... (not including development costs any help would be great)

Oil Target x recovery rate of 35% (used in key presentations) x oil price x 20% Interest

10 000 000 x .35 x $80 x .2= $56 000 000

56 000 000 / 86 000 000 = $0.65


*This is speculative and my opinion only double check the figures before buying*


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## surfingman (11 February 2008)

Must disclose: I did just buy a small parcel, I couldn't help myself.


Any opinions would be great....


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## Wysiwyg (11 February 2008)

surfingman said:


> Must disclose: I did just buy a small parcel, I couldn't help myself.
> 
> 
> Any opinions would be great....




2 1/2 C is much better than than the 7 C ave. I paid.The next drill closer to the Songo Songo structure increases the possibility of something i suppose.I hate (lol) these junior oil specs.


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## surfingman (11 February 2008)

Wysiwyg said:


> 2 1/2 C is much better than than the 7 C ave. I paid.The next drill closer to the Songo Songo structure increases the possibility of something i suppose.I hate (lol) these junior oil specs.




I brought the shares 0.087 still considering the oppies, I will probably hold to at least the Po Valley drill which should be before June 08, looks to be a good prospect with a 8000 BOPD field only 8km away and 100% interest at this stage .


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## Ruprect (17 March 2008)

KEY in trading Halt pending announcement on second Kilwani well.

This is their fisrt ever trading halt, so maybe a very good discovery. 

Today's news from the UK is the following.

Oil firms in East African deals 

Three London-quoted oil and gas companies will announce deals in East Africa today. Dominion Petroleum and Soco International will announce a joint venture with the Democratic Republic of Congo's state oil company.* Aminex will say that it has found substantial gas reserves in Tanzania. * 

Aminex of course being the joint partner.


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## Ruprect (17 March 2008)

Just announced a gas discovery - which will be able to go into production once the drilling is finished. Further announcement on reserves once analysis done.

Good news story on an otherwise dull day.

update - up nearly 95% so far.


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## savoy (18 March 2008)

I'm happy to see such good news! 

 I'm new to the oil and gas game, with Key being my first such purchase.  How does this proceed from here?  Do they drill more wells to test the reserve before beginning production, or do they start laying the gas line and begin production when that phase is complete?


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## savoy (18 March 2008)

Today's announcement answered my previous question.  

It seems the well will be up for production when the hook ups are complete.


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## Mr Peaman (18 March 2008)

did anyone see the close? Going to be a very interesting day for this stock tomorrow - Especially if it is a green DOW


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## Dezza (18 March 2008)

Any guesses of the potential target price for tomorrow or the near future? 

savoy - nice pick up for your first.


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## Ruprect (19 March 2008)

I note that the joint partner on the UK exchange, Aminex (40%), has hit a 52 week high on this news, so that bodes well for KEY.

It was a very strong close, always a good thing to see a close on the high price of the day.

And the DOW is up significantly so far, with an expected rate cut afternoon their time.

Im actually very impressed with KEY, significant success with only their second drill target, well funded for the rest of the year - i think $14 million odd in the bank, with some promising prospects in Italy. Plus they are looking at other prospects. I wouldnt be surprised if they also started looking around australia for oil/gas plays. The Fed Govt are likely to assist with exploration for oil/gas to help sure up local supplies. Id like to see KEY getting in on that.

Always hard to pick potential short term - long term i can only say take a look at Ted Ellyard's previous venture, Hardman. Took it from a market cap of $5mil to $1.5 Billion. The guy knows his stuff.


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## Ruprect (28 March 2008)

Looks to be some good movement this morning - after dropping to 18c, its come back very very quickly to 21c. Its racing on volume. Interesting.

Should be expecting a resource size and some flow rates shortly.


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## Trojax (1 April 2008)

I'm very happy with this stock, the 4 week layover for final analysis has shaken out some day traders but the results are excellent supported by the ann on 31.3, looks very nice for commercial soon.


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## zengin (1 April 2008)

Hi Trojax
I dont understand, the news was not bad at all but the stock fell 17% do you have any idea ? I would have imagined the stock to go up at least.


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## Ruprect (1 April 2008)

Yes, it was a good announcement. Shows that there is a very good chance that the well will be a comemrcial gas venture. Thats not bad at all for a company only 9 months old.

I think the issue is that day/short term traders were banking on an announcement that showed flow rates/resource size, and therefore a spike in the price. 

That analysis wont be wont for a few more weeks, so the traders pulled out for the time being. 

So for now you should see some more serious long term buyers, and the traders will come back later.

I note that the joint partner Aminex was pretty steady overnight in London.


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## Trojax (1 April 2008)

zengin said:


> Hi Trojax
> I dont understand, the news was not bad at all but the stock fell 17% do you have any idea ? I would have imagined the stock to go up at least.




As Ruprect said, day traders exiting the scene on the news that there's a 4 week wait for before they're getting the necessary equipment in place to confirm overall long term viablity. It's still speccy, but a speccy whose found something significant, for the moment we'll have to wait and see.

I might pick some more up in the drift between now and next round of results, still a speccy risk at the moment but if the independent analysis confirms that this well is commercially viable as the company releases indicate then it'll go gangbusters, especially with that processing plant so close, bit of a bonus that!


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## Trojax (7 April 2008)

Picked up some more today, so quiet on KEY now, hopefully we will receive some of the lab result updates from the sampling soon, looking forward to getting the commercial testing flow rig up and running end of the month and see how much she can produce. 

As a side note, management are really interesting in this company, 3 out of 5 directors are same 3 out of 5 on MAK (Minemakers), worthwhile doing a read of the website and background google on these guys if your a holder 

Last update, expiry of escrow on 2 million shares on some conditions met (not a big announcement), good luck to all like me waiting


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## Ruprect (14 April 2008)

New joint venture announced for KEY. Looks promising. Now just to wait for the flow rates on Kilwani which shouldnt be too far away.

_Key Petroleum Ltd (ASX code: KEY) has signed a Consortium Agreement with Pancontinental Oil & Gas NL (ASX code PCL) for joint petroleum exploration activities offshore Namibia.

Key and Pancontinental believe that the area holds significant oil exploration potential and have been jointly studying existing regional geological and seismic data for some time.

Pancontinental currently holds a Reconnaissance Licence, No RL-1 of 2007 (‘RL’) covering an area of approximately 30,000 square kilometres, offshore from the coast of Namibia, in an area known as the Walvis basin._


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## Trojax (22 April 2008)

Bit of interest in the stock last few days, preliminary buy ups or day traders, who knows :

Getting closer to end of month and the flow rig being fitted, hopefully an ann soon that all is going to plan with this. The management here have been very good so far,  ahead of schedule and under budget previously. Wouldn't expect less I guess since most of them are MAK directors 

Anyone know anything about Namibia and the 'Walvis' basin, good hunting ground? 

Also news on Italian off-shore permits is due soon, I see on their web site seismic was to begin, no new ann so gather still waiting on gov approval, I might write to them and ask how thats going lol.


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## Ruprect (3 June 2008)

Some news on Key which is good for those of us who have been waiting. Machinery has arrived, and testing has commenced to determine flow rate and size of resource. Should have some news on that soon i would expect.

But in addition, the really interesting announcement was the acquisition of another area, next to the exisiting producing songo songo field, in joint partnership with aminex again. But this time KEY have a 50% stake!! Im very impressed with this one, might be very interesting times ahead!


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## Ruprect (4 June 2008)

Major success for KEY, results from the well test is showing a significant gas flows. Announcement in London from joint partner Aminex, with its sp spiking up to 22% higher with some very large trades:

_Initial results from the test have established:

• A strong stabilised flow of gas at a rate of *40 million cubic feet/day, equivalent to 6,700 barrels of oil per day*, through a 72/64ths” choke;

• Strong flowing wellhead pressures;

• Condensate of one barrel per million cubic feet; 

• No CO2 or H2S impurities._

Should see a very positive announcement from KEY first thing, which id expect will mean a strong re-rating. The strong result should mean an early movement to commerialisation, given they have access to the gas pipeline only a couple of kms away. 

Not a bad effort for a company less than 12 months old! But what could we expect from the same people that brought us Hardman and most recently Minemakers?!!


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## Sean K (5 June 2008)

Great day yesterday, expect good follow through tomorrow on that break.

I wouldn't dwell on the MAK link too much. Ellyard joined MAK very late, and the Finance Director doesn't find minerals. 

Well done to those picking a bottom when it tanked badly recently, gusty move. 

Be interesting to see where she goes from here.


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## Trader Paul (5 June 2008)

Hi folks,

KEY ..... 40mmscfd ... a good result from Tanzania ... 

Warning of some heavy duty volatility ahead..... should be a big gain today,
but it may be short-lived, as 2 negative cycles come into play by Monday, 
but then KEY is likely to kick again, as another positive cycle arrives on 10062008 ...  

have a nice day

  paul

P.S. ..... BUY also have a stake in this find, as well .....


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## Ruprect (5 June 2008)

Ceratinly a very positive start for the day! Over 14 million traded so far - only 74 million in total quoted so thats a heavy turnover. Have seen a couple of big single sellers, matched by some big buyers too.

Once those bigger sellers drop off id be interested to see how this fares. Still holding, the more i look at the announcement, the more pleased i am. Flow rate of  6700 barrels of oil equiv per day - thats pretty substantial imho.


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## Dezza (29 October 2008)

Been a while since the last post / update. Since then, SP been slowly drifting down, and now sits at $0.085 with quite a few sellers lining up now. 

Nothing too eye-opening from the Annual Report last week, with plenty of cash at bank for rainy days. 

-- Still holding these in the bottom drawer...


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## Trader Paul (4 May 2009)

Hi folks,

KEY ..... as requested, here’s some astroanalysis, over the next few months:

      07-08052009 ..... a difficult time cycle expected and regular TA 
                               may suggest some downside from here ... ?

           11052009 ..... a minor and positive light on KEY ... minor rally ?

           15052009 ..... significant and positive cycle ... a short upmove ?

      22-25052009 ..... significant and positive cycle ... finance-related ?    

           08062009 ..... negative spotlight on KEY

      24-25062009 ..... 2 difficult negative time cycles expected here.         

      26-29062009 ..... significant and negative KEY news expected 

      10-17072009 ..... 3 time cycles with an underlying negative bias and
                                  news expected on 13072009

      20-21072009 ..... significant and negative cycle ... finance-related ?

      24-27072009 ..... significant and positive news expected for KEY

      06-07082009 ..... significant and negative cycle

           10082009 ..... positive spotlight on KEY

     14-17082009 ..... 2 negative time cycles and negative news expected

 KEY looks a lot more positive, from September-to-December 2009 ..... 

Price target 27.5  cents 05-21102009 ... expecting BIG news 20-21102009.

Updated KEY chart attached .....more later ..... 

have a great day

  paul


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## mr. jeff (13 April 2012)

Not much news here or following perhaps, but in the Canning with all the others.





From 4/4/12 release - "The Canning Basin Push"

Moving well and the last 3 days have seen unexplained buying. Someone is getting a stake and a big one at that. If you watch the action during the day, it goes quiet and traders start selling off small parcels, then it looks like it will fall a level, then bang, it is taken back out. Quite aggressive and not an unpleasant thing if you hold. Time will tell us what is up. (holding) Their logo is good too, that has to count for something.


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## mr. jeff (26 April 2012)

Nothing much has happened since last post, there are days of strong buying, then nothing at all and the drift is downwards, sometimes severely so, seeing 10% down, then a retrace. Strange action and probably attempts to shake people out. 

You can see this action on the chart, pushing in and the price is moving well, then the retrace back to the previous highs. If this continues, then it looks like next move may come shortly. Certainly volume has dropped out and selling seems contained at this stage. But this stock acts quite aggressively in both directions and as such takes a little more stomach. Easy to spot stops.




This is one possible scenario.


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## pixel (4 July 2012)

another swing up the monkey bar
strong resistance at 4.5, but buying pressure is building, which, if successful, would result in a break with high volume.
I bought yesterday.




A longer-term view suggests 6c as the next target.


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## raimop (30 June 2014)

Well no one has posted since July 2012. Well I'm gonna post today. You know why ? Well that's why. They are going to drill a well in the Perth Basin WA this month in fact could be as soon as this week! Now that sometthing worth posting. A discovery woulsd add to the SP. Fingers crossed. I hold


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## Porper (30 June 2014)

raimop said:


> Well no one has posted since July 2012. Well I'm gonna post today. You know why ? Well that's why. They are going to drill a well in the Perth Basin WA this month in fact could be as soon as this week! Now that sometthing worth posting. A discovery woulsd add to the SP. Fingers crossed. I hold




Maybe nobody has posted since 2012 because it's lost 80.0% in value since that time. Dire looking chart. Another dud well and...who knows can't go much lower so delist?


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## raimop (14 July 2014)

KEY reported today that the Dunnart - 2 well in the Perth Basin WA spudded yesterday. The well will take about 4 weeks to drill, test and log.
I hold


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## Porper (14 July 2014)

raimop said:


> KEY reported today that the Dunnart - 2 well in the Perth Basin WA spudded yesterday. The well will take about 4 weeks to drill, test and log.
> I hold




A basing pattern has been evolving which technically is positive. But...and it's a big "BUT" there is no volume in this stock. Announcement today and a measly $2500 worth of shares traded. Bad news and you'll never be able to sell...there will be no buyers. Very high risk.


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## raimop (20 August 2014)

This morning KEY reported that it has encountered oil in the Dunnart-2 well in the Perth basin onshore WA. KEY will conduct a DST today and is likely to release a further report tomorrow am. The SP closed at 0.027 up 58% for the day and over 126 million shares were traded.
I HOLD


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## barney (27 August 2018)

Another minnow Oiler jumping out of its skin today ….. up 50% to 0.012 cents on solid Volume


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## Ann (11 March 2019)

*Key Petroleum inks Cooper Basin gas processing MoU with Santos and Beach Energy*
_
Australian oil and gas junior Key Petroleum (ASX: KEY) has inked a deal with Santos (ASX: STO) and Beach Energy (ASX: BPT) to link its wholly-owned Tanbar gas project to the majors’ Cooper Basin gas gathering network.


The companies today announced the execution of a non-binding memorandum of understanding (MoU) that proposes terms for connecting and transporting Key’s Tanbar gas from Queensland into the network to be processed at the Santos-operated Moomba facility in South Australia.


The MoU forms the basis for the negotiation of a future formal processing and transportation agreement to allow raw gas from Tanbar to be processed into sales gas to supply to the Australian east coast gas market.


While the commercial terms of the deal remain confidential, Key said its board is pleased with the MoU terms.


“This MoU demonstrates a clear pathway to commercialisation of future gas discoveries within our Tanbar gas project, subject to final binding terms being agreed,” Key managing director Kane Marshall said.


“Importantly, there is flexibility for financing of future developments whereby capex-intensive gas processing infrastructure may not be required if it can be processed and transported via Santos-operated infrastructure in the manner contemplated by this MoU,” he added. More...._


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