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  #1  
Old 01-15-2018,
AdamarWeri AdamarWeri is offline
 
Join Date: Jan 2015
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Default TCG: Closer look at JDO

It got nailed by the suspension of 2 drills (see below). Now what I'm getting more interested in is JMG. Apparently JED is looking at purchasing JMG and given JMG's recent decline with JED, it could be a nice payout *if* the acquisition goes ahead...your thoughts?



Oct 10 (Reuters) - Shares of JED Oil Inc. JDO.A lost more than half their market value and fell to an all-time low on Tuesday after the oil and gas company said it suspended drilling in the Ferrier and the Pinedale areas, mainly due to a decline in natural gas prices.

JED shares fell $5.47 to close at $5.30 on the American Stock Exchange, their biggest percentage fall since April 2004. Tuesday's fall saw the stock price slide below its initial public offer price of $5.50 per share for the first time.

The fall in the JED stock also dragged down JMG Exploration Inc. JMG.P shares by about 49.2 percent to close at $3.50 on the NYSE Arca, after touching an year-low of $2.70.
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  #2  
Old 01-16-2018,
Abem Chanu Ningombamjeor Abem Chanu Ningombamjeor is offline
 
Join Date: May 2017
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JED is pursuing a merger with JMG Exploration, in which JMG would merge with a wholly owned subsidiary of JED in the U.S.

JED, which develops and operates oil and natural gas properties principally in western Canada and the U.S., said it encountered unexpected water production during drilling in Pinedale and is continuing to investigate the problem.

The company also said it expects to exit the year at a production rate similar to its third-quarter exit rate of 2,001 barrels of oil equivalent per day.
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  #3  
Old 01-17-2018,
Abe8870770 Abe8870770 is offline
 
Join Date: Jun 2017
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It had recently acquired 100 percent of Enterra Energy Trust's (ENT) working interest in the North Ferrier area and about 57.5 percent of Enterra's interest in the East Ferrier area as part of an asset swap agreement.

JED and JMG had also recently received approval to increase the well density on JED's lands in the Pinedale/Jonah area of Wyoming.

JED said it will revamp its budget and return to natural gas drilling later this year or early next year, when the price of natural gas is expected to increase during the heating season. (Reporting by Dhanya Skariachan in Bangalore)
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  #4  
Old 01-17-2018,
aberinconsitoGrind aberinconsitoGrind is offline
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Just hit its head on the 61.8 FIB line on the 5 minute chart at 3.13 ...should pull back to around $3 again...get ready to add to your position..JDO is gonna rocket today
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  #5  
Old 01-19-2018,
abbyqm11 abbyqm11 is offline
 
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Just be patient...It "should" pull back a little soon. Like I wrote earlier, the lower an oversold stock goes, the higher the bounce!

OptionPundit
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Congrats for those who are in for this game. My humble 3 cents, don't let the greed settle in and get out at your respective reasonable targets there will always a fight between "greed" and "fear" !!
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