Seems as though nothing is happening with Jacka except the cash raising. So lets liven up the thread.
Over in Somaliland a second company DNO of Norway and third African OIl of Canada are all pushing to starting some drill exploration action.
Perhaps they will venture more promptly into something although the political situation still is a prime concern for Genel and these other two companies.
The locals are still in regressive attitudes as to control by who - Somaliland Govt or the locals. Some murmurs that the Govt and the oil comapnies are building up so called militia protection to move things along.
Some murmur by some posters over in London as to Nigeria being "farmed in" or other? Would TPT contribute to an exploratory well? ($10 million?).
As to Hamammet West from DGO 22nd April
Interim statement.....
"EXPLORATION
Tunisia
The Hammamet West-3 well remains temporarily suspended due to difficulties experienced during testing in 2013 as a result of continuous blockage caused by lost circulation material. Alternative Sidetrack-2of the Hammamet West-3 well will be drilled in the Abiodformation from the original HammametWest-3 wellbore to intersect fractures and to test the formation.A new rig is expected to be secured to drill Sidetrack-2 in the NEAR FUTURE.
The joint venture partners (Dragon Oil 55%; Cooper Energy, 30% and operator; and Jacka Resources Ltd, 15%) applied for another year of extension taking the initial phase contract to 2Q 2015 during which time Sidetrack-2 could be performed. The estimated cost for Sidetrack-2 is approximately US$35 million of which Dragon Oil will contribute on a pro rata basis.?
NEAR FUTURE- I hope that means round about the time they come back to trading which should be in about 3 weeks???
And another 6 months MAYBE till AJE maybe has some oil production.
I'm still backing Hammamet West 3 as to still being Jacka best asset in the near future.
But that means another $5.5 million needed for HW3 alone.
So difficult times for the stock unless some sort of good drilling news soon.
AND I'm amazed that so many companies are playing offshore with big bucks when still the East Africa still appears to be giving great results still in many unexplored regions.
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