They have enough money for 2013's campaigns, which i think is important not to gloss over, as though they are cash-strapped.
If HW3 fails to deliver then we could certainly see price in the teens but you're discounting basically any chance of success at Hammamet West, by the sounds of it?
My question to you is, what sort of risk/reward proposition are you looking for in a small cap oiler!?
JKA operate in the O&G exploration space. Of course they are high risk. We're not talking Woodside Petroleum here.
JKA Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held