Addax Petroleum (fka AXC)

[Tamtam]

Happy Hollidays everyone

[Julius Erving]

LoL:

"Dont panic shorts will soon rush to close out."

https://uk.advfn.com/stock-market/london/tullow-oil-TLW/share-chat

The Doc.

Also:

Reasons for decimating the share price by 70% currently. The Group expects 2019 full year net production to average c.87,000 bopd. The Group also expects to deliver free cash flow of c.$350 million. The group has liquidity headroom in excess of $1 billion and no near-term debt maturities. 2020 Group production is forecast to average between 70,000 and 80,000 bopd. Group production for the following three years is expected to average around 70,000 bopd. The non-operated portfolio is performing well, and production is expected to be sustained for the medium term. The audits show increased oil reserves for Jubilee, Ntomme (offset by a c.30% decrease in Enyenra reserves) The Board believes that a series of actions will help deliver sustainable free cash flow. "Despite today's announcement, the Board strongly believes that Tullow has good assets and excellent people capable of delivering value for shareholders. (Announced at share price of £1.40) The drilling of the Carapa-1 well on the Kanuku Block in Guyana continues, with a result expected before the year-end. Hmmmm Yes, thats got to be reason enough for decimating the share price by 70% today..

If the Carapa well is sweet oil (now being drilled), then the share price will explode up again.

[Julius Erving]

A MASSIVE bargain at 44 pence...

"The Market is extremely overreacting" at 7.20 minutes.

What's new?

And it could be a take over target now... at a premium.

The Doc.

[Julius Erving]

Wow, 'brother' Tullow is a serious bargain as of today:

this is from yesterday, before the extreme plunge of today:

After all, if we take a closer look at the trading volume of Tullow's shares on the LSE on November 13, we will uncover a literally staggering fact. The gist is that volume was the highest in almost five years. The sell-off was impetuous. It is tough to say what precisely fueled the sell-off and such precipitous price slide, but, as a reminder, institutional ownership in Tullow is high, so, the drop was so momentous perhaps because some funds with substantial shareholding in the company curtailed their exposure, as the equity lost its appeal for them.

https://seekingalpha.com/article/4311264-tullow-oil-reanimating-thesis

This is a obvious case of 'institutional panic'.

Almost 90% institutional:

https://simplywall.st/news/breaking-down-tullow-oil-plcs-lsetlw-ownership-structure/

It's for a good part the resignation of Paul McDade, Chief Executive Officer, and Angus McCoss, Exploration Director... rest was already mostly known…

Wow.

[lovemelongtime]

Covering shorted positions 101 - 130 million shares covered on September 12th 2018 and then silence occurred.

[Tamtam]

That's an interesting theory
.Companies can disrupt industries...

Uber disrupted the taxi service... pretty much decimated them everywhere...

Amazon disrupted the entire retail sector turning most brick and mortar malls into ghost towns.

Airbnb is disrupting the hotel business.

Then there's Erhc and their disruption is completely unique... they are decimating the ranks of penny stock short sellers and turning them into an endangered species.

Erhc will go down in history not only as the next Monster beverage but in fact the next case study for future short sellers and what NOT to do.

Here's the lesson:

1) don't short a stock with a concentration of longs

2) don't short a stock surviving past its going concern statement of one year

3) don't automatically assume that all Nigerians are scammers

4) don't be caught up in water that is slowly rising to a boiling temperature if you're a frog

5) if there's a super genius, such as myself, interested in the stock... do not short

6) listen to warnings from Day 1

7) don't allow confirmation bias to assume that just because 100% of suspended stocks end up revoked in the past that a record can't be set

8) use fundamental valuation techniques: clearly erhc is worth far more that a valuation of $300k. The well it purchased in Texas alone is worth nearly that much!

9) beware of companies employing the New Paradigm.

10) Gag orders can hide incredible success... tread carefully if you are a short seller

11) If major companies are involved like Total... stay away. They have overwhelming fire power in relation to the shorts

12) if you're going to short, avoid shorting naked

13) when a small group of shareholders starts claiming they own 50% of the outstanding shares: probably a good idea to believe them and cover ASAP.

There are more lessons but 13 should be enough for now.

Krombacher

[oldoil]

Fun to watch isn't it...Shorts are going nuts.....GO ERHC__________

[ssc]

This fact based analysis is even more important:

When one looks at the long, long list of made up erhe-new-paradigm alternative facts that attempt to support a case of an $8 share price, huge short positions, $100 million cash plus carry deals but have not even the tiniest shred of proof to back them up, and then looks at the current share price near zero where it has been for years and a company on the brink of having its right to trade publicly revoked, it appears that "you reap what you sow" is quite appropriate.

[nwtf]

Why? There arent any.

[lovemelongtime]

Absolutely true!!

[oldoil]

Longs aren’t selling !!

Shorties wish they would.

[nwtf]

That isnt analysis. Thats begging shareholders to not sell.

[oldoil]

I'm reposting a recent important analysis that I think is very important going forward:
___________________________________________________________________________________________________________

Krombacher Thursday, 11/21/19 01:43:39 PM
Re: None 0
Post # of 333498
In general, religion is off topic... however, the following saying is so common that even non religious secular people know it... everyone pretty much has heard it.. so it should be ok to comment on it.

It's: "you reap what you sow "

What's interesting about this saying is that there's a qualifying phrase that comes before it that few know about but I think that phrase is more important because it puts this truism into context as it pertains to investors in erhc.

That phrase is something like "Don't grow weary when you're doing good"... and then it's followed by "because you reap what you sow".

That's the key with erhc. I *know* I'm doing good in my speculative analysis of erhc. I also know that erhc is not a scam and they're doing everything they can to do good.

Sure it takes patience. Sure we grow weary over all these years trying to understand this investment and contribute our thoughts and opinions... but so long as good is done... we will ultimately reap what we sow.

Don't grow weary my friends.

Krombacher

[nwtf]

Another hope and a prayer that might help ERHE out?
I dont think so.

[seek the light]

ERHC Shareholders please read this article as it should drive the majors to try to do deals in the JDZ and EEZ as opposed to offshore Nigeria waters:

https://worldview.stratfor.com/article/nigerias-risky-new-oil-revenue-plan-offshore-crude-investments-africa

[Julius Erving]

SSC,

I sit back, I relax, and enjoy myself with a glass of wine!

So how much did it cost? Link please

Isn't this the 2nd well listed in that link which was erroneously referred to as the new 3rd well which now everyone knows only existed in the made up alternative fact based new-erhe-paradigm world?

So this doesn't change the 4000 boe number, does it?

It definitely did not change the FACT that no one in the entire world has been willing to pay more than 1/10 of a penny for erhe for years. erhe is worth what the market is willing to pay for it; sorry but that's the way it works in the real world.

We are moving towards an outcome, as to who will 'win' regarding their investment strategy…

I notice that not everybody is as relaxed as I am, while waiting for that outcome…

The Doctor.

[Julius Erving]

Shell

https://macauhub.com.mo/2019/11/08/pt-grupo-shell-assina-acordo-de-comparticipacao-na-exploracao-de-petroleo-em-sao-tome-e-principe/

“ends up contributing to the promotion of the oil potential of the São Tomé and Príncipe EEZ, which is still unknown and untapped.” (Macauhub)

Oops...

[Julius Erving]

ERHC Volume: 1 share.

No that is LOL.

[oldoil]

GO ERHC___

[emdyal]

"their laws" NOT "there laws" !

[oldoil]

Today I feel like a yacht captain downing my Manhattan anchored off the coast of Nice. (Young 20s ???)

Go ERHC——-

[oldoil]

No

[ssc]

The narrative changed? Again? lol. That seems to happen quite often, but the share price remains the same.

OK, so now there are no offshore accounts where the 1.5 billion made up short shares used to be held, now all those made up short shares are held in Canada, eh?

Alright then, everywhere I referred to offshore accounts since the narrative changed just change offshore to Canadian. That won't change the meaning of what I posted and it certainly won't make the claim that 1.5 billion shares of a $.0003 were sold short and held for years any less ridiculous.

Thank you for clarifying the latest narrative change.

[oldoil]

Yes...my information reveals that during full moons, over many months, only on "odd" days members would secretly meet at exactly 12.36 AM to hand off their recent transactions...this has not been discussed in the open till now....but it has been observed that these secret meetings ceased right after a recognizable "ChessMaster" secretly observed this behavior after dropping off the neighbors babysitter..Alarms rang out and within 3 moves all stopped..go figure.

GO ERHC___

[nwtf]

Cant be Canadian because they changed there laws.
Looks like you have fall back on the offshore fabrication.

[Krombacher]

Why do we keep referencing offshore accounts when the narrative changed months ago that the short sellers are Canadian?

Krombacher

[ssc]

Are you saying erhc's condition was caused by the secret offshore shorters who now hold 1.5 billion shares of erhe short and haven't covered even though the price has been almost zero for years?

Are you saying erhc's condition wasn't caused by a combination of:

Bad management of $45 million in cash

The issuance of toxic convertible debt that lead to massive dilution, 1:100 reverse split, followed by further issuance of toxic debt and another 3 billion shares of dilution

Bad luck of another dry well in Kenya to add to all the failures in the JDZ

If that is your case, I'd say the facts strongly disagree with it.

[nwtf]

Much higher levels?????

What higher level?

[emdyal]

They didn't short at .0003 - the shorting was done at much higher levels. But I suspect that common sense makes that more than obvious !!

[EZMONEY36]

SSC – Made Up! Here is a dose of reality. On page 7 oft the ERHC’s Oct 25 2019 administrative Proceeding Link: https://www.sec.gov/litigation/apdocuments/ap-3-19419.xml

Reference: Eagletech Communications, Inc
Answer at 2. ERHE attributes its delinquencies to litigation over mineral rights with a third party. This argument is unavailing. The Commission has repeatedly held that third party conduct does not excuse a company's failure to comply with its periodic reporting obligations. Eagletech Communications, Inc., Exchange Act Rel. No. 54095, 2006 SEC LEXIS 1534 at *6 (July 5, 2006) (third party criminal activity); Cobalis Corporation, Exchange Act Rel. No. 64813, 2011 SEC LEXIS 2313 at *20 (July 6, 2011) (actions of shareholder in forcing involuntary bankruptcy proceeding and forcing i~suance of stock did not excuse Exchange Act violations).

https://www.inquirer.com/philly/business/20070111_Business_news_in_brief.html
Valley Forge stockbroker pleads guilty to fraud
A stockbroker at Valley Forge Investment Group has pleaded guilty to conspiracy to commit securities fraud and wire fraud related to a scheme that defrauded investors of millions of dollars and led to 17 criminal convictions. Robert Montani Jr., 45, pleaded guilty just before he was to go on trial in federal court in Newark, N.J., for manipulating the price of two thinly traded stocks from 1999 to 2001. Montani was a broker at Bryn Mawr Investment Group in Rosemont, later known as Valley Forge Securities. Prosecutors said Montani helped the firm's chief executive officer, Tonino Labella, and other brokers defraud shareholders of Eagletech Communications Inc. and Select Media Communications Inc. Montani, who lives in Valley Forge, faces between 33 and 41 months in prison under advisory sentencing guidelines. Montani was the final defendant to plead guilty. Labella pleaded guilty Oct. 26.
- Bloomberg News

This read is long but shows you how it is done: https://courtsportal.dallascounty.org/DALLASPROD/DocumentViewer/Embedded/lqqdez1JJH6A0Lpa55kFL-ZylnPtFssEJP9CmdH7oPt8jpLkuwxqhZt_q7TaKmDbGndtTwA31J09FWOEg9VPyh2L3MtXhy0864IJ60C7dyY1?p=0

In my opinion ERHC is suffering similar situations and that’s why they state they could not file on time and suffers the same fate. I truly hope this gives you another aspect on reality of shorting and manipulation! Good luck!

[ssc]

Yeah, except everyone knows there aren't shorters of a $.0003 or lower stock holding 1.5 billion shares short in secret offshore accounts. The story is ridiculous by all measures of risk/reward.

[EZMONEY36]

Thanks Homebrew for your PM : Psssst...Getting suspended, and soon revoked is a bad thing for shareholders.

Psssst: going grey after all that work and not being able to cover the short positions is a bad thing for the shorts! P.S Own many shares in private companies! Good luck!

[nwtf]

Operative word is IF. Since there arent any shorts the operative word is---
MOOT.

[EZMONEY36]

If shorts were effective their plan was to drive the stock price down and cause the stock to go to the grey market and then cover all their short positions!
Problem is longs not selling!
Sorry it worked for so many years but times have changed in my opinion!!
Good Luck

[ssc]

200 million or 300 million shares wouldn't even bring in $8 total. Enjoy the revocation.

[EZMONEY36]

oldoil - yes 69 million x $8.00 Bucks would work for me!
Good luck!!

[oldoil]

Ahhh.....The “Kings English”

btw, I have shares to sell.....$8 bucks

[nwtf]

More horse shit.

[lovemelongtime]

Ain’t going to happen. 1.5 billion shares held tight with the group I know, SEO has the rest.

[emdyal]

Yeah the shorties are working frantically every day to find a way out !

[oldoil]

Tick Tock Tick Tock...time for Shorties to find a way out.....less today, more tomorrow....
Sadly, they may get caught in the $5.00 per share escape...Talk about getting their rear ends handed to them...PLeassseee.....do it now....

GO ERHC______________
_______________________
__________________

[nwtf]

Nobody knows the time table that the SEC works on.

[oldoil]

TRADEABLE

[oldoil]

Wasn’t Revocation supposed to have happened weeks ago?
Wonder why ERHC is still listed and traceable ??? Hmmmm??

Longs Not selling and Total wants our stuff.
Go ERHC—-

[nwtf]

Of course I would be looking forward to it.
Why wouldnt I???

But I dont think its going to turn out like many think it will.
.0002??? suspended. Revocation very soon.

[Julius Erving]

Looking forward to it.

You too?

I sit back, have a glass of wine, and enjoy the show when it starts...

You too?

[ssc]

Will price of erhe go up enough tomorrow to at least cover a boat purchase?

[oldoil]

Maybe tomorrow.
Are you ready?

[nwtf]

Is that very soon the same
very soon from 4 years ago????

[emdyal]

Short sellers going down the tubes !! Big ERHC deal being announced very soon !