''Jacka's East African onshore exploration activity in Tanzania and Somaliland is real frontier stuff given that the area is not known for oil and gas but.....''
- OUR search for value today takes us to Africa, which has been a very happy hunting ground for many investors as Australian-listed explorers scour the ground for good opportunities. As a result many of the African exploration plays are expensive now, but I found a couple that are worth a closer look at current prices. The first is oil and gas company Jacka Resources, which holds an intriguing mix of blue sky exploration projects and some lower-risk projects that are close to cash flow.
Run by an Africa-connected and experienced management team mainly out of Hardman Resources, the market seems to be pricing all of the company's projects as being early stage when some are much closer to production than that. Jacka owns 5 per cent of the Aje field offshore from Nigeria and that alone could be worth a lot more than the company's current market capitalisation, according to research by DJ Carmichael.