KEY - Key Petroleum

[Ruprect]

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?!!

 

[Sean K]

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.

 

[Trader Paul]

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 .....

 

[Ruprect]

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.

 

[Dezza]

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...

 

[Trader Paul]

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

 

[mr. jeff]

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.

 

[mr. jeff]

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.

 

[pixel]

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.

 

[raimop]

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

 

[Porper]

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?

 

[raimop]

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

 

[Porper]

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.

 

[raimop]

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

 

[barney]

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

 

[Ann]

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....