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Author Topic: JED Oil, Inc. (AMEX- .99x1.00)
juice
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STOCK SYMBOL: JDO
tipped off from a friend- keep it on watch!! Oil is flying! don't have time to DD yet, will though!

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juice
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from the pr yesterday:
"We added 2.42 MM BOEs of ROIP and with our remaining drilling targets and new land acquisitions we are in a good position to continue growing our assets when our outstanding financing issues have been resolved."

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juice
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people need to see potential reward here. OIL is FLYING! and JDO is AMEX. if any of you saw MXC then you know the potential. MSC is AMEX and once news hit everyone found out about it cause it showed a serious gain. Then those gains multiplied into double digit gains. and the stock went over 60.00 per share from 5.50 in a few weeks!!
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juice
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JDO should have financing in place or we should at least find out if they will in JUNE. I'm guessing a nice run from these levels when that happens! I don't think it can rival the MXC run, but it should make investors some $$ (FINGERS CROSSED)
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juice
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**Q1, 2008 Compared to Q1, 2007 Highlights**

Exit production rate was up 28% from 1,150 BOE/d to 1,472 BOE/d;

Revenue increased 192% from approximately $3.3 million to $9.7 million;

Funds from operations increased 401% from approximately $0.3 million to almost $1.5 million;

Average production increased 68% from 914 BOE/d to 1,537 BOE/d;

Net loss was $0.9 million compared to $3.5 million in the first quarter of 2007; and

A gain of approximately $2.3 million on the sale of the Company’s Candac properties in North Dakota.

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TruthLiesWithin
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Been studying this for awhile...

I just exited KYUS, after an amazing run, looking at their numbers and comparing these, they look similar in what to expect for return.

natural gas in MXC and KYUS are what drove them up.

JDO was in the 20's back when oil was cheap, and they are averaging 1,000 BOE/d.
What is their per barrel extraction rate now?
I thought I saw $21 a barrel somewhere, has anything changed?
Friday is not a good day to buy, but I may make an exception...

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juice
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Hey truth good job on KYUS! Not sure wwhat they're per barrel extraction rate is now. im sure you can find it in here somewhere-->
http://www.sedar.com/CheckCode.do;jsessionid=0000_dpBpmO92QMZf4Dr8BudBdh:-1

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juice
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put in an email and call yesterday to JDO IR. Heard back today-->
Marcia Johnston to me
show details 10:40 AM (3 hours ago) Reply

Hello Chris,

Thank you for your interest in JED Oil.

With respect to proven reserves, information at December 31, 2007 is available to the public on the Canadian electronic disclosure system: www.sedar.com. If you are not familiar with SEDAR, select “Company Profiles” and you will get an alphabet; select “J”; under the J’s select “JED Oil Inc.”, and then select “View this Company’s Public Documents” and you will see all of JED’s public filings. The reserve report information is included in the document called “Annual Information Form” filed March 31, 2008. If you are more familiar with EDGAR in the US, everything filed on SEDAR is also filed on EDGAR under cover of a Form 6-K. We have not made any public expectations for EOY, and as I’m sure you know, we cannot make selective disclosure to individuals that hasn’t been released to the public.

With respect to the financing, it has been a very frustrating process. The delays have been caused by the bank deciding at the last minute that they need more or updated information, which has caused them to not get the credit facility to the credit committee in time to meet the various deadlines. However after a conference call yesterday with the bank and their lawyers, we understand that we are on track for closing on June 3rd.

Regards,

Marcia L. Johnston, Q.C.
Vice-President, Legal & Corporate Affairs
JED Oil Inc.
403-335-2105
mjohnston*jedoil.com

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tmanfromtexas
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I concur Truth, there extraction cost is between 21-25 bucks a barrel. Hopefully they will get this financing and be able to move on to more profitable things. TMAN...

--------------------
In the end, trust only yourself when trading stocks.

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TruthLiesWithin
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It seems that KYUS has a bad name, but I am not sure, as it seems to defy most odds.


But forget that, JDO has the same amount of shares, and better numbers internally.

Better numbers meaning way more cash on hand.
And if the loss is decreasing, and they get the funding fixed, this one could very well match the other runners, and probably more if the 1000+ BOE/day is a real number....

I need to look more, got a long weekend to do it.

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TruthLiesWithin
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Oh and forgot to add, AMEX is better than OTC.
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T e x
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"better" if your stock doesn't get pounded, lol...

the simple act of moving "up" is no guarantee of success.

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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TruthLiesWithin
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I wouldn't stay too long in any of these stocks,
But moving up is moving up, even if it only last a week.

Of course this one was driven down for a long time now, which I guess is what you mean by pounded.

But I think if they are truly producing the numbers they say, it should be a lot higher.

1000 BOE/day sounds rediculous, at $22 per barrel extraction rate, and current price of oil, this leads to $100,000 a day??

I would hope being on the AMEX means something to them.

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juice
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few trading days away till we should hear about financing!
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juice
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JED Oil Inc. Announces Note Redemption Extension
Wednesday June 4, 8:45 am ET
(all amounts expressed in US Dollars)


DIDSBURY, Alberta--(BUSINESS WIRE)--JED Oil Inc. (AMEX: JDO - News) (“JED” or the “Company”) today announced that it and a majority of the holders of its $40.24 million principal amount of 10% Senior Subordinated Convertible Notes (“Notes”), have signed a Note Amending Agreement to restructure the Notes and extend the maturity date for their redemption. Under the terms of the new agreement, the Company has until June 30, 2008 to complete the credit facility offered by a Canadian Chartered Bank in the approximate amount of $32 million. These funds will be used to repay 61% of the principal amount of the Notes; an addition of 1% of the principal amount and 400,000 common shares of JED as extension fees, plus all interest accrued from January 1, 2008 through the closing date in cash. The remaining balance of 39% of the principal amount will remain outstanding as amended and restated Notes. The amended Notes will pay quarterly interest in the amount of 12% per annum and will mature one year from the issue date. The interest will be payable in common shares of JED if required by the Company’s bank. Under the terms of the agreement, the Company will have the right to make prepayments at any time without penalty. In addition, JED will be required to make prepayments totaling half of the net value of proceeds from asset sales (after the bank has been repaid the loan value of the assets). The amended Notes may be converted at the holders’ option into common shares of JED at an exercise price of $1.25 per share.
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About JED

Established in September 2003, JED Oil Inc. is an oil and natural gas company that commenced operations in the second quarter of 2004 and has begun to develop and operate oil and natural gas properties principally in western Canada and the United States.

This press release contains forward-looking statements. The words “proposed”, “anticipated” and scheduled” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. The loan facility may not close. The anticipated success and production of JED’s current drilling, work-over and tie-in opportunities may not be realized. Other factors that may affect future results include uncertainties involved in the dispute with one of our noteholders and other risk and uncertainties as are contained in JED’s filings with the Securities and Exchange Commission (“SEC”), which are available at the SEC’s Web site (http://www.sec.gov) and JED’s filings with the Alberta Securities Commission, which are available at the Web site (http://www.SEDAR.com). JED is not under any obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise.


Contact:
JED Oil Inc.
Tom Jacobsen, 403-335-2107
CEO
or
Marcia Johnston, 403-335-2105
VP Legal & Corporate Affairs
www.jedoil.com
or
Investor Relations Counsel:
The Equity Group Inc.
Linda Latman, 212-836-9609
Lena Cati, 212-836-9611
www.theequitygroup.com

--------------------------------------------------------------------------------
Source: JED Oil Inc.

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juice
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not yet.. [Frown]
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