Addax Petroleum (fka AXC)

[DegenerateGambler]

Sneak, your post made me think about what a good job PN did in the drilling deal with CESPA. Although, ERHC was supposedly financially responsible for a portion of the actual drilling costs, IMO opinion PN NEVER had any intention of paying back the drilling costs if no oil was found (the Nigerian way). So even though it may have looked like ERHC was paying some of the drill carrying cost, ERHC had no intention of doing so if no oil was found. That makes the deal much better than originally thought. ERHC has stuck CESPA with the $12 M drilling costs and has no intention of ever paying CESPA back AND NEVER DID!. This was ERHC's last hooray and it was a make it or break situation for ERHC. Too bad no oil was found and ERHC was no 0 for 6, and has struck out for the last time. They sure sucked CESPA into fronting the drilling costs.