What's Happening !, page-95

I've presented the facts and the current market cap. You've done the editorialising. However I do understand your sentiment as the losses many of us are sitting on with JKA are truly awful. But let me respond. Who's to say oil will stay at this level indefinitely? JKA have 15% of Tunisia a large shallow water block close to shore and close to operating oil wells. If the Dragon Oil decide to do some more exploration on some of the other prospects why wouldn't there be interest in JKA farming down? If Genel go ahead with drilling in Somaliland, the 5% stake will not be worthless. You are correct that any reasonable deal on Tanzania will depend on an oil price recovery, but it's still there in the portfolio and completely unaccounted for in the market cap. There is upside in the Aje deal if there aren't big cost over runs. Also there is value to JKA and no funding call with drilling success in Mexico. JKA should not have to raise capital any time soon, as will other oil juniors with larger market caps. As I've said previously JKA is way oversold and is certainly worth more than it's current market cap.