INVESTORS are always looking for the next big thing, and speculative oil and gas Australian oil explorer Jacka Resources seems to tick a lot of those boxes in the wake of a billion-dollar takeover offer of what was a fellow minnow in East Africa. Since early March, shares in Jacka have shot up almost 50 per cent, although at 19¢ it still only has a market cap of $47 million. It raised just over $14 million last month at 13.5¢ a share and investors now include Contango Asset Management which declared a 6 per cent stake last week.Development of Jacka’s offshore prospects in Nigeria and Tunisia, West Africa, is well under way, with modest cash flow expected as early as next year from the Nigerian site. But it is possibly its onshore exploration in Tanzania and Somaliland in East Africa that is more interesting.