Past year: ▼ 19%(5.10c – 10.0c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Mar 2008drilling result▲ GoodMajor
Kiliwani North-1 found a 60m gross gas column in the same Neocomian sandstones as the Songo Songo field, at 2,030m, ahead of schedule. It will be completed as a future production well. Reverses the Kiliwani-1 dry hole; appraisal is needed to size it.
17 Mar 2008drilling result▲ Good
Bounty reports the Kiliwani North-1 gas discovery, a roughly 60m gross gas interval, which it says appears to be a separate pool from Songo Songo. Bounty's interest is adjusted to 5% and Aminex to 40%. Duplicates Key's news.
12 Mar 2008half year report▼ Bad
Half-year to 31 December 2007: loss of $5.07m, including $4.55m of exploration costs written off (Tanzania segment). Cash fell to $12.3m from $15.1m at 30 June, with no debt. Routine financial report.
11 Mar 2008drilling progress report● Neutral
Kiliwani North-1 at 1,730m, drilling ahead in 8½-inch hole after casing was run. Still described as relatively trouble free. Routine update.
5 Mar 2008drilling progress report● Neutral
Kiliwani North-1 at 1,106m, running 9⅝-inch casing. Drilling described as relatively trouble free with geology as expected. Routine update.
29 Feb 2008drilling progress report● Neutral
Bounty reports Kiliwani North at 445m with 13⅜-inch surface casing cemented and blow-out preventers being pressure tested. Good progress since the 23 February spud. Routine update.
25 Feb 2008drilling spud● NeutralMajor
Kiliwani North-1 started drilling on 23 February, the second well of the Tanzanian programme after the Kiliwani-1 dry hole. Planned depth is about 2,012m, targeting a possible new oil play and the Songo Songo reservoir sands. About 35 days expected.
15 Feb 2008drilling scheduled● Neutral
Rig released from Kiliwani-1 on 13 February and moving to Songo Songo island; Kiliwani North-1 should start around end-February, a vertical well to about 2,175m taking roughly 35 days. Key says it is also evaluating new projects for growth.
11 Feb 2008drilling result▼ Bad
Bounty, a 6% partner, reports the same result: Kiliwani-1 drilled to 2,570m, no commercial hydrocarbons, being plugged and abandoned. Cites target sands too deep, below Songo Songo's gas-water contact. Duplicates Key's announcement.
11 Feb 2008drilling result▼ BadMajor
Kiliwani-1 was drilled to 2,570m and is being plugged and abandoned: no commercial hydrocarbons, only minor gas. Key's initial view is the target sands were too deep, below the gas-water contact of Songo Songo. Dry hole for Key's 20%; Kiliwani North-1 is next.
5 Feb 2008drilling progress report● Neutral
Bounty reports Kiliwani-1 drilling at 2,317m after broken bit pieces were removed on 2 February. Primary target around 2,340m in Lower Cretaceous sands is close. Repeats Key's own update; routine.
5 Feb 2008drilling progress report● Neutral
Key reports Kiliwani-1 at 2,317m, drilling toward the primary target after milling out the broken bit debris and switching to clean drilling mud. Resolves the debris delay noted on 29 January; no result yet.
29 Jan 2008drilling progress report▼ Bad
9⅝-inch casing is cemented on Kiliwani-1 at 2,260m, but a drill bit failure left debris needing several trips and milling. Drilling into the reservoir section is delayed slightly.
29 Jan 2008drilling progress report● Neutral
Bounty repeats that Kiliwani-1 has 9⅝-inch casing cemented at 2,260m and is clearing debris from a broken bit. Primary target around 2,340m is next. No new information.
22 Jan 2008drilling progress report● Neutral
Kiliwani-1 reached the 9⅝-inch casing point at 2,257m, with a wiper trip before running casing. Same news as Bounty's report; drilling into the reservoir is next.
22 Jan 2008drilling progress report● Neutral
Bounty reports Kiliwani-1 reached the 9⅝-inch casing point at 2,257m and is doing a wiper trip. Reservoir target around 2,340m is close. Routine update.
17 Jan 2008security holder rights change● Neutral
Escrow on 1,715,000 shares expires 31 January 2008. Other escrowed shares remain restricted, including 9,028,333 and 2,000,000 shares for 24 months from quotation. Administrative.
15 Jan 2008drilling progress report▼ Bad
Kiliwani-1 at 2,121m, drilling toward the 9⅝-inch casing point. More mechanical delays from worn flow pipe and mud pump repairs. Routine update.
8 Jan 2008drilling progress report▼ Bad
Kiliwani-1 at 1,977m, with progress slower than expected after several rig shutdowns for mud pump and generator problems. Echoes the rig's earlier mechanical troubles but no result yet.
4 Jan 2008drilling progress report● Neutral
Bounty reports Kiliwani-1 at 1,892m, drilling ahead. Plan is to set 9⅝-inch casing near 1,900m, with the main target around 2,340m. Routine update.
24 Dec 2007drilling progress report● Neutral
Bounty reports Kiliwani-1 drilling ahead at 1,509m after cementing casing at 1,315m. Routine update, no result.
18 Dec 2007drilling progress report● Neutral
13⅜-inch casing set at 1,322m on Kiliwani-1; the blow-out preventer is being installed. Drilling continues to about 2,285m next. Routine update.
17 Dec 2007drilling progress report● Neutral
Bounty reports Kiliwani-1 running 13⅜-inch casing at 1,322m, hole condition good. Main target around 2,340m. Routine update.
11 Dec 2007drilling progress report● Neutral
Kiliwani-1 still at 1,322m, opening the pilot hole and preparing to run 13⅜-inch casing, with mud pump maintenance. Routine update.
7 Dec 2007drilling progress report● Neutral
Key relays an Aminex statement that, contrary to reports, Kiliwani-1 has not encountered any significant hydrocarbon shows so far. It contradicts Bounty's 5 December 'encouraging gas shows' claim; Aminex says it is far too early to judge.
5 Dec 2007drilling progress report▲ Good
Bounty reports encouraging gas shows at 1,163-1,241m in Kiliwani-1, suggesting hydrocarbons in the structure. The main target is around 2,340m. This was later disputed by the operator.
4 Dec 2007drilling progress report● Neutral
Kiliwani-1 at 1,322m, preparing to run in with a 17½-inch hole opener. Routine update with no result.
29 Nov 2007investor presentation● Neutral
AGM presentation: cash $13.5m, 86m shares, share price 25c, $5.0m of Nyuni cash calls paid. Kiliwani-1 is drilling ahead; Suriname stands at 5 wells drilled, 3 with hydrocarbons. Repeats known facts.
27 Nov 2007drilling progress report● Neutral
Kiliwani-1 at 340m, making up the 17½-inch drilling assembly. Routine update, no result.
23 Nov 2007drilling progress report● Neutral
Bounty reports Kiliwani-1 reached the 340m surface casing point and is preparing to run 20-inch casing. Routine progress, no result.
