was it the right decision ?, page-2

Whilst my mind is still on Jacka and questioning my logic

Genel have undertaken to do 1500 km 2D and a well for 50%.
2D is going to cost c $15m and I suspect $50m for the well based on what Horn Petroleum spent in Puntland.
So that’s an investment of $65m for 50% or $1.3m per 1%
Jacka has 30% of this block and one could say its worth c $40m compared to the market cap of $23m

Current low share price for Jacka is the tight cash position. But they do not need an awful lot of money, small placement would do it now that Tunisia is 2014. Then a little time for consolidation or an asset sale and the share price is back up.

Somaliland really is the jewel, Genel has targeted a potential 1 billion barrels for this block and they have done the Aero Mag and with confirmed multiple oil seeps in different locations throughout the block (not just in one area).

Hence why I am sure Genel will be back, and that could be announced any day. Remember Genel also need to diversify their oil production just as badly as Dragon. Both have only one source of production and this is a big risk when any oil company gets to their size.