Addax Petroleum (fka AXC)

[midtieroil]

Too funny. Was me knowing Tarach was a dry hole before ERHC announced it inside information? Two publications reported it. Did they have inside information too? LOL

Was me knowing about the toxic debt insider information? They were issuing floorless convertible debentures that are almost always toxic. Was knowing toxic debt when you see it and predicting massive dilution due to the toxic debt insider information? LOL

Was actually reading the financial statements and seeing a highly suspicious tax receivable inside information? That 2 million receivable turned into a 2.7 million liability and a tax lien. Was reading and understanding the financial statements inside information too. LOL.

I actually read the financial statements to find out that the exploration period in Chad was about to expire and suggested that might result in forfeiture of the Chad block. Poof. It's gone. Was that inside information?

Now ERHC is delinquent to the tune of $10 million to CEPSA in Kenya . I actually read the Joint Operating Agreement and it spells out the remedy for delinquency quite clearly. It says CEPSA can force ERHC to forfeit the block and I have every reason to believe they will do so. Any reasonable businessman or company would do it. To think CEPSA won't follow up on their legal remedies and take action is completely irrational.

If you do some basic research and use some common sense it's pretty easy to come to conclusions far before ERHC announces it. As we know. ERHC hides things from us for as long as they can. If you wait for them it's way too late. Most have already learned that lesson.

Then, if you contact third parties like Upstream, OilNewsKenya and the Kenya Oil Ministry you can often garner even more info even if they aren't on the record yet. Some erroneously refer to this as inside information. I call it due diligence. You should try it some time. At the very least go read the Joint Operating Agreement. That spells out the remedies for delinquency very clearly. Ten million is a lot of money even to CEPSA. They are doing something about it even if it hasn't been publicly announced yet. Do your own DD and perhaps you'll find out what.