Jacka Resources (ASX:JKA) has been granted a trading halt by the ASX pending an announcement to the market relating to an update on the Final Investment Decision on the Aje Field, offshore Nigeria (licence OML 113).
Jacka shares are currently in pre-open.
Jacka holds a 2.667% participating interest in the licence, a 6.675% contributing interest and a 5.0006% revenue interest in the Aje Field.
In August an independent report confirmed 23.4 million barrels of gross Proved and Probable (2P) oil reserves for the Phase 1 Cenomanian oil development of the Aje Field.
Of this, Jacka to book net 2P reserves of 1.3 million barrels of oil, with the company to book a further 12.1 million barrels of oil equivalent (boe) as net Best Estimate (2C) contingent resources, an increase of 1.6 million boe.
The halt will remain in place until the opening of trade on Friday 10th October 2014, or earlier if an announcement is made to the market.
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