Master Lock mechanism jammed

Hello all,

I use a Master Lock like this:

http://www.masterlock.com/cgi-bin/ap...cat_id=D8 418

to secure my bike - one of the ones with a locked, unlocked and
'cinch' position for the key. Earlier today I went to unlock the bike
and found that I couldn't move the key in the mechanism away from the
locked position. I have a suspicion I put the cable into the cinch in
the wrong direction but I'm not sure if this should make any
difference. Before locking it, I then pulled it out so that there was
no 'spare' protruding from the exit point of the lock and I have a
feeling that the cable-end may have somehow got jammed in the
mechanism.

No amount of pulling/pushing the cable in combination with shifting
the key around seem to help. This is the first time it had really been
used - it's been lying indoors for months so it should have no
corrosion. I sprayed a little PlusGas (non-graphite based) penetrating
oil but this has had no discernible effect.

I know there's not a lot to go on, but does anyone have any
experiences/suggestions for freeing this?

Cheers,
cam