The only thing that would be silly, is to assume success on any of their projects. It's a high risk game and even the POS on an appraisal well like HW3 is maybe a little over 50%.
What i do like about Jacka is that mgmt have gone about their business and perfomed EXACTLY as their corporate strategy purports. The projects they have acquired are at varying development stages, providing a diversification of exploration risk, with some early cash flow (hopefully, Nigeria). Importantly, for the number of potentially game changing projects they have acquired, the # of shares on issue bodes very well for shareholders if just one of the projects is successful.
JKA Price at posting:
19.5¢ Sentiment: None Disclosure: Held
