suspension time frame...?, page-5

Its not the only way, and your sums don't make a lot of sense either.

Aje is a near term production asset but even on recent sales to FHN and Lekoil, should yield at least $12m, but even on a per barrel basis this is only circa $1.25 / barrel.

How will Hammermet West add $50m on for this one asset alone (assuming there is no valuation in Jackas share price for anything else, as nothing of value yet in Tanzania or Somaliland) as that will value Hammermet West for JKA at circa $75m, for 15% of the asset, or somewhere around $4.40 / barrel, so why would you want to sell a nearer term asset (Aje) for less than $1 / barrel ($10m proceeds) but then think an unddeveloped discovery at Hammermet West woudl be worth over $4 / barrel?

Its all good stating numbers but if no backing, your points worthless.

I would like to keep Aje, due to the near term production element of it. Have you even done any figures on this? Should they manage to produce from the 3 wells (2 already suspended) on an EPS, I should think they should be able to yield around 10k bopd from this gross, or around 500 bopd net to JKA. That could be worth on a cash basis (not a profit basis) around $11m / year. With G&A fairly low, this would provide capital to progress theri other assets, and limit the amount of future capital raisings down the line.

If these are the sort of valuations being bandied around at the moment, I would prefer a cap raising (as a long term holder) which would not be of benefit to short term holders, but may well be the most value accretive method for the long term.

Failing that, a funding agreement, could mean an extension of a loan facility which is certainly possible also.

Certainly not only 1 outcome here.