Addax Petroleum (fka AXC)

[midtieroil]

What it illustrates to me is that ERHC is intentionally hiding from us their difficulty in retaining their interest in the Kenya block as they are prone to do when very bad news is on the horizon. Obviously the law and the contracts are on the side of CEPSA and ERHC does not have a legal leg to stand on.

CEPSA has not agreed to move on nor have they relinquished the block in over a year since drilling. Obviously a fight is going on with ERHC over the 10 million owed and who retains the interest in the block going forward. Others may surmise otherwise but the truth is self evident.