By OGJ editors
HOUSTON, Nov. 21 -- JED Oil Inc., Calgary, said JMG Exploration Inc., an affiliate incorporated in Nevada, has decided to abandon plans in which JED would have acquired JMG.
JMG was formed in late 2004 and taken public last year. JED said the acquisition was called off because of changes in both companies and in general market conditions since a letter of intent was signed (OGJ, Apr. 3, 2006, p. 33).
JED has concentrated on development drilling, and JMG on exploration in western Canada and the US, both working closely with Enterra Energy Trust, an oil and gas income trust set up in 2003.
