JED OIL Inc (JDO)

[mick]

always like good reads,

[Fedex11 ©]

They are just trying to protect us thoughhhhhhhhhhhh

[OptionMonster]

Nice!

[Fedex11 ©]

yep just added some more to avg down

[OptionMonster]

Up already on light volume>>Low O/S moves pretty quick

[Fedex11 ©]

admin added me back as an asst weeeeeeeeeeeeeeeeeee

[OptionMonster]

Don't you love that!

[GobsoGreen]

OOOOH PITA! orders not accepted for e-trade online, looks like i need to fund my other account!

[OptionMonster]

Hey Gobso!

[GobsoGreen]

mood morning all! debt free? thats always good news!

[Fedex11 ©]

hey mick gltu this week

[OptionMonster]

Morning mick!

[mick]

hi OM, good morning very interesting.

[OptionMonster]

Tropical storm update: http://www.nhc.noaa.gov/refresh/graphics_at4+shtml/085313.shtml?5day#contents

[OptionMonster]

Agreed MWM>>>Adding some this morning

[MWM]

Definetly getting cheap!

[OptionMonster]

wonder why?

[OptionMonster]

Morning Fed>>Nice board you have here>>Been a tad quiet

[PIZZABUSTER1]

my theory is to sell into the anticipated destruction, - which could turn out to be a big mistake

[Fedex11 ©]

hey dont be running around doing that lol

[OptionMonster]

I think the storm is prompting it higher

[PIZZABUSTER1]

sell oil today , close below 130. eom

[OptionMonster]

Oil $131.49

[OptionMonster]

Nat Gas $10.73

[OptionMonster]

Looks pretty yummy down here! lol

[J-RO]

BUD has his eye on this one now.

[OptionMonster]

Thank you Bud!

[J-RO]

JDO (Jed Oil) Chart ~>

[Trendfinders]

To me, thats the news we've been waiting to hear! Very nice news to hear indeed.

[OptionMonster]

“We expect to be free of debt and ready to proceed building the Company when we complete this process,” stated Tom Jacobsen, JED’s CEO.

[Trendfinders]

Not bad! Will watch it as well.

[OptionMonster]

Going to add a few more here

[OptionMonster]

Finally some good news

[MWM]

JED Oil Inc. Announces Asset Sale Process; Agreements Signed with Note Holders, and Spacing Unit Reduction Approval
Date : 07/18/2008 @ 8:45AM
Source : Business Wire
Stock : JED Oil Inc. (JDO)
Quote : 0.38 0.0 (0.00%) @ 8:00AM


JED Oil Inc. Announces Asset Sale Process; Agreements Signed with Note Holders, and Spacing Unit Reduction Approval




JED Oil Inc. (AMEX: JDO) (“JED” or the “Company”) today announced that it has signed an Engagement Agreement with CB Securities Inc. (“CB Securities”) of Calgary to market JED’s northern Alberta oil and gas assets in the Steen River area of northern Alberta.

The properties offered for sale produce approximately 1,400 BOE/day weighted approximately 60% to light oil. JED holds high working interests in these operated properties that have mostly year round access and owned infrastructure. AJM Petroleum Consultants has estimated that the properties offered have 3.87 MMBOE of proved and probable remaining reserves, representing a 7.6 year reserve life index.

Darryl Derouin, President of CB Securities, stated, “Marketing materials will be available in early August, with bids expected in mid-September. Potential purchasers can contact me in my Calgary office at 403-781-7041.” Net proceeds from the asset sales will be used to redeem JED’s $40.240 million principal amount of 10% Senior Subordinated Convertible Notes (“Notes”) plus interest accruing from January 1, 2008, and to pay outstanding trade creditors. The balance of proceeds will be used for the Company’s 2008/9 drilling program and general working capital. The sales are expected to close by October 31, 2008 unless shareholder approval is required. In that event, the sales are expected to close by November 21, 2008. “We expect to be free of debt and ready to proceed building the Company when we complete this process,” stated Tom Jacobsen, JED’s CEO.

The Forbearance and Note Amending Agreement between JED and holders of a majority of the Notes containing the terms of the Term Sheet previously announced on June 25, 2008 was signed on July 1, 2008. Following discussion with Mr. Derouin, the Company and Note holders agreed that the deadlines in the July 1st Forbearance Agreement did not provide adequate time to market the assets. Accordingly JED and holders of a majority of the Notes signed an Amended and Restated Forbearance and Note Amending Agreement on July 11, 2008, which adopted the schedule of CB Securities for the asset sales and extended the Maturity Date of the Notes to either October 31, 2008 or November 21, 2008 if shareholder approval is required.

JED also announced that it has received Energy and Resource Conservation Board approval for reduced oil well spacing in its Marlowe Keg River H pool in the Steen River area. The approval will allow for two wells per quarter section. “This approval will allow JED to plan three additional low risk development locations which should result in significant increases in production and reserves,” stated Jeff Huckle, VP Operations. Development plans for the Marlowe Keg River H pool consist of a total of five development locations for the 2008-2009 winter drilling season. Since being brought into production in November of 2007, JED’s Marlowe Keg River H pool has cumulative production of approximately 118 MBOE from three producing wells.

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.

[GnomeOfZurich]

I want to be the mod for this board.

[GnomeOfZurich]

JED Oil Inc. Announces Note Redemption ExtensionLast update: 6/25/2008 8:45:01 AM(all amounts expressed in US Dollars) DIDSBURY, Alberta, Jun 25, 2008 (BUSINESS WIRE) -- JED Oil Inc. (JDO) ("JED" or the "Company") today announced that it signed a Term Sheet with the holders of its $40.24 million principal amount of 10% Senior Subordinated Convertible Notes ("Notes") for the redemption of the Notes by September 30, 2008. The Term Sheet is attached to a Note Amending Agreement with holders of a majority of the principal amount of the Notes to extend the Maturity Date of the Notes until September 30, 2008 if a formal Forbearance Agreement in accordance with the Term Sheet is signed by July 1, 2008. If the Forbearance Agreement is not signed by July 1st, the Maturity Date becomes July 2, 2008. The Term Sheet provides for JED to sell assets or otherwise raise a minimum of $55 million for the redemption of the Notes and repayment of trade creditors. This Note Extension Agreement is the second and third step of the three-step process announced on June 23rd.

[analogdog]

nah... we all knew the risks... that last SEC filing sealed it for me.

[GnomeOfZurich]

You guys should have done more Due Diligence before investing in a company that owes a shit load of money to banks and in convertible notes! You guys are funny, I was laughing my ass off when you were group trading this stock at or around 1.00$.

They will go bankurpt if they can't pay those back.

I only wrote this post because I want to become mod. of this board.

[stocksablaze]

sure is i moved all this puppy to ncey.... but you never know.

[realest]

well this one is blowing.

[flush bob]

yeah...i bought at .97 and sold it 2 days after their june 30th financing fell through at .92.

recouped my losses though easily at ABP - might wanna check it out again.

WWEI is showing great promise...but is still a HIGH HIGH HIGH RISK!!! as i wrote on the CNEH board:

"WWEI (wind-farm company in china still in concept stage)
gave me a huge gain today. got a 66% gain from it today. it may be looking to fly.

--take a look...but be careful with it....its highly highly risky. they have very little money and have no product or revenue's yet because they haven't even got their PPA or wind farms in construction yet. - but they got their govt. approval today to go ahead with the project and there has been a lot of pumping, so it may be great quick flip.

i just bought into it with my hopes and dreams and no real other reasoning....didn't move for months, but today it took off. Please be careful and do your DD bud. "

best of luck to you Options and all other's in here. make that moneyyyyy!



investment philosophy: get yo money right

tough times don't last, tough people do.

[OptionMonster]

I only have 1500 shares so I am going to hang on to them..Never know..

[OptionMonster]

It sure did turn out this way..Perhaps one day they will get their $&*#^@# together..Later bob!

[flush bob]

i think we can safely say this company is a dud!!
lol
sorry fellaz. hope you at least got out by now

[realest]

GO JDO GO!

[Trendfinders]

JDO making a small rebound today on High Crude I would assume

[stocksablaze]

Another email from JED IR-->
Marcia Johnston to me
show details 12:37 PM (1 hour ago) Reply


Hello Chris,

As you now know from today’s news release, the Maturity Date of the JED notes has been extended again to permit the bank more time to complete the financing. That financing is still on the table. The proposed resolution for the AGM to approve the issuance of shares is purely speculative at this point – there is no agreement or terms set. Approval is being sought under the rules of the American Stock Exchange. As a “private placement” , if one occurs, the shares would not be offered for sale to the public.

Regards,
Marcia Johnston

[stocksablaze]

doh!

[OptionMonster]

JED Oil Inc. Announces Note Redemption Extension

JED Oil Inc. (AMEX: JDO) (“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.

[doggone01]

Jed oil has until June 30th to complete the finance!!!