tpt to takeover jka at 11.2c per share, page-6

Yes it appears on the face of it a good deal for JKA shareholders. TPT shareholders get a bit shafted with dilution, but I think that shows that both companies recognise JKA is the one with the bigger potential and the one that's currently well undervalued.

I nearly bought a bunch of JKA last week as it dropped down towards 7c, it was on my to-do list but I figured I had time and didn't see any reason to hurry. Now I'm kicking myself!

However, this does dilute our interests in all JKA's assets by 50%, and in return we get what seems to be (from my very preliminary examination) a one-trick pony in Morocco. If that doesn't work out (and most wells have a COS less than 30%) then JKA shareholders lose out big time.

All in all, this seems to be a fairly neutral proposal for JKA. It has pluses and minuses. However given the current market environment and the massive difficulty in sourcing funding, it probably is the best terms JKA can get.