Addax Petroleum (fka AXC)

[seek the light]

sneak....The two offshore blocks owned by Starcrest are not worth much in my opinion. I hope ERHC does not purchase interest in these. Better to get the new PSC's done in Blocks 2,3 and 4 of the JDZ and sell these [ if SNP and Addax did pull out ERHC's interest are much larger so worth more] . The remaining 3 blocks in the JDZ may be worth the most of any of ERHC's offshore assets.

I really hope ERHC just buys from Starcrest some or all of Starcrest's part of OML40 as i believe that block will eventually have 300 million barrels or more of proven crude. But the very best aspect of OML40 is that ELAND is the operator, and this fact is what makes that asset bankable. ERHC needs a piece of a bankable asset to be able to have the capital base to grow. All JMO.