Addax Petroleum (fka AXC)

[midtieroil]

Actually it had everything to do with Chrome. Go back and read ERHCs attempt to hide that fact and you can still see what happened. I even talked to Les Blair about it at a shareholder meeting where he told me he needed to school Ntephe about how to get it done. Unfortunately he never did because he left shortly thereafter and ERHC never got that listing.

Basically they needed to structure it so that Chrome had only and indirect minority interest. That is why Elcrest was formed and why Starcrest/Chrome had a minority interest in Elcrest. Chrome was far enough removed that it enabled Eland to get their AIM listing.

Chrome/ERHC/Starcrest will likely never get one on their own. They need a legitimate company to be operator, to get financing, and to be the majority partner. That is the blueprint Eland used but putting that all together will be difficult if not possible in the current oil price scenario.