Excellent post! Thanks for giving us an insight into what we had guessed has been happening for clients who have funded recent capital raisings for JKA. From what you've related the brokers didn't get it right in the lead up to drilling HW-3 and perhaps were caught as we were by the big sell off that happened prior to drilling. HM-3 intersected seemingly a fair mount of oil in shallow water but smashed us all and it has left me wondering if someone with lots of script had a serious look at this project prior to drilling and decided it was a dud? There was a poster on the JKA site earlier in the year named Slampoil who apparently is in the O&G industry and posted that from his research the project could never be commercial due to the geological structure of the oil deposits.
I used to think JKA was a great little O&G junior explorer company with a clear business plan but since the drilling of HM-3 we've IMO experienced so many things that haven't really been properly explained. By the way when the broker argued that JKA was worth 18c was it based upon anything?
Best wishes to you and all JKA holders.
Regards,
Chilloutman
JKA Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
