undervalued gem, page-39

The company is fully funded for their FY2013 program, with the Aje field to begin production netting 20 million per annum free cashflow on a full year of production (starting mid 2013), from which the company then can fund further exploration/development.

In one of the research notes on the website it notes that the Bargou Gulf assets could generate up to 60 million free cashflow to Jacka if the third appraisal well is a success.

Obviously a few IF's in there, but the history of management is definitely a positive as they've done this before. I'm in for a ride to see the conclusion of the three valuation catalysts listed by nextoilrush.com. These catalysts are:

Tunisia: 15% share in an oil well, that will start drilling in January 2013, estimated 42 days to reach target depth (near term price catalyst), Nigeria: 5% share in an oil discovery that has already been declared commercial - Resources upgrade expected in December 2012 (near term price catalyst - coming any day now), Tanzania: Awaiting government approval on permits (near term price catalyst).

While the article on nextoilrush appears to be a pump, the assets held by the company are very interesting indeed when compared to the market capitalization.