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Jim Long

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Jim Long

Re: brez63 post# 116735

Wednesday, 01/30/2008 11:09:45 AM

Wednesday, January 30, 2008 11:09:45 AM

Post# of 361412
Jeff sure seems excited and after being in the oil industry for a number of years he certainly is excited about JDZ. Mentioning the $1.0-$1.5 billion acquisition in 1 to 1.5 months makes me wonder where Addax's confidence level is relative to Block 2, 3, & 4 estimated reserves and to what end Addax is willing to go to sew up more percentages. Maybe there is contemplation of a cash and stock switch of something along the lines of $2.00 upfront cash and a 1 share of Addax for 15 ERHE shares. That sort of gets us in an acceptable price range, provides some walking around monies, and provides the added benefit of ownership in a super growth oil company.

Smokin' oily musings,
Jim Long
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