Addax Petroleum (fka AXC)

[ssc]

I imagine it can be very, very difficult to face the facts when a large investment is turning into a total loss. But the sad truth is ERHC is broke and deeply in debt; Offor's percentage of ownership is small and, like every other shareholder, growing smaller every toxic-note-converting day; management is getting their roi via salaries for doing nothing so ERHC won't be going into hibernation mode as long as there are willing convertible note flippers providing the payroll cash and dilution insurance believers to buy all the "cheap" shares. I would guess that Cepsa's biggest dilemma right now is how to get rid of a partner that can't pay its own way so exploration of 11A can continue.