trading halt, page-10

Something odd going on here. A week ago they said "The Company currently has ample cash reserves sufficient to fund its proportion of the estimated well costs."

Two possibilities:

1. They are taking advantage of the hype before testing to raise cash for Aje now (possibly prudent - if HW-3 fails they will be raising cash at 5c, if HW-3 is a success the dilution of a small CR won't really matter)

2. They are looking to raise cash for a separate acquisition

At any rate, to state the company has ample cash CLEARLY implies no CR is imminent - and then only one week later they launch a CR!

Poor form by the board IMO.

And all those guys who tipped JKA and were doing so well in the tipping comp are going to be losing their golden cups when this one starts trading again...