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We are toasting his new birthday!
Brez
Majic,
Boozer is a friend of mine and was my wingman on many missions. He was released from hospital 2 hours ago, which is great news.
He is our demo pilot and something went wrong with his right engine during his slow speed high angle of attack part of the demo.
Great reflex and excellent reactions saved his butt!
Cheers
Brez
And Total buys in to an equally disappointing block 1 just for added effect?
Yeah, I don't think so. It may not be huge, but it certainly wont be little. I'll take just right!
Cheers
Brez
Thanks for all the responses. DG you are correct. I buy US listed companies through a Canadian broker like TD or Etrade/Scotia etc. We are subject to Canadian Capital Gains tax and not American. If I were to open an American account in the US then I would have to file US taxes. Having said that, Canada does have a MoU with the US conscerning Tax laws which prevents a US or Canadian Citizen to be double taxed (ie I only pay Canadian Taxes for Canadian account, but would pay only US tax for a US account). I don't know if SEO would have his taxes through Nigeria or UK but I'm pretty sure there is no tax treaty with Nigeria! UK, maybe.
I think it will depend where SEO got his shares from. From a US brokerage or arrangement it will be US tax law. Through other arrangement, I don't know.
As an aside, in Canada you would pay a max of 25% on Capital Gains Tax (50% of the 50% taxable)
Cheers
Brez
Ajaxx,
Could you please tell me (us non Americans) what are the current and proposed Capital Gains tax rates? I don't know what they are, but now your post as really got me curious!
TIA
Brez
Happy Early Birthday MN!
I can't get my mother near a computer and you're on a penny stock board trading away! Well done.
Cheers
Brez
250K brother, 250k!
Cheers
Brez
Well apparently all gas and oil stops at the border of block 1! :0)
My money is on oil and gas in the JDZ are not confined to man made delineations!
Cheers
Brez
Do you only come here to pick fights?
Brez
Only you can find a frown! Dude, just enjoy the news without caveats. We all know Total will not be buying ERHE tomorrow!
Cheers
Brez
Seeing that total is getting 45.9%, didn't CVX have 51% in block 1? Therefore CVX will be keeping 5.1% for themselves?
Now, if we could find the price/terms of the deal!
Cheers
Brez
BB the pieces are slowly falling into place!
Cheers
Brez
Great find! thanks
Brez
No problems Krom. If you ask me if I believe that it is possible. My answer is yes. But I still don't know what you brought up.
Cheers
Brez
Great, go watch some tv for a couple of hours and this happens! Beautiful....just beautiful!
Brez
PS. What was the original post? Thanks
Thanks great post and I agree that we are seemingly following the similar pattern. Therefore, I still remain long on this stock.
cheers
Brez
Thanks
Can someone tell me the bid/ask and time please. I have two platforms showing me .18/.21 or .2/.268?
Thanks
Brez
Just like Addax did when we double listed on the TSX (primary) and LSE. They did not issue any additional shares, they just listed therefore folks were able to buy on the LSE. I think of the LSE like your online store, it doesn't hold the shares it just advertises them. You bid and if someone over on the TSX has a matching ask the virtual shares trade virtual hands. Therefore the strongest market sets the price and the dual listing goes up and down accordingly, taking into account the exchange rates.
IMO, this is a very positive thing for us and is better than relocation. Therefore, the only thing that might change for us on the OTCB, is that if the demand for the stock is high on the AIM (which the company believes it will be), our price will rise. But not only will it rise, since you will have a lot more people waiting on the AIM's bid and ask this will stabilize our price on the OTCB therefore drive the flippers and game players away. Again in my opinion.
Cheers
Brez
http://www.allipo.com/articles/19156/ipo-addax-petroleum-corp-start-of-trading
Calgary, May 24, 2007 - /CNW/ - Addax Petroleum Corporation ("Addax Petroleum"or the "Corporation") (TSX:AXC), an international oil and gas exploration andproduction company with a strategic focus on West Africa and the Middle East,announces that its common shares have today been admitted to the Official Listof the UK Financial Services Authority and have commenced trading on the mainmarket of the London Stock Exchange ("LSE") ("Admission") under the tickersymbol "AXC". * Addax Petroleum is one of the largest independent oil and gas companies listed in London when measured by market capitalization, production and reserves * Market capitalization of approximately GBP 2.9 billion (CAN$6.3 billion) * Q1 2007 average production of 116,000 barrels of oil per day (bbl/d) * On track to deliver average production of 127,000 to 133,000 bbl/d for 2007 * 2P reserves of 354 million barrels (MMbbl) at December 31, 2006 * 3P reserves of 480 MMbbl and unrisked prospective resources of 1,307 MMbbl, both at December 31, 2006 * 2007 capital expenditure budget totaling $1.2 billion * Assets in Nigeria, Gabon, Cameroon, Kurdistan Region of Iraq and the Nigeria-Sao Tome and Principe Joint Development Zone
Commenting today, Addax Petroleum's President and Chief Executive Officer, Jean
Claude Gandur, said: "I am very pleased that Addax Petroleum now trades on themain market in London. Our LSE listing will provide investors with anadditional venue for trading the Corporation's shares and we believe that itwill increase the Addax Petroleum's visibility and expand its investor base.
Although secondary-listed, Addax Petroleum's shares trade on the SETSmmplatform, which we believe will enhance their liquidity in London.
Given the size the Corporation has achieved and the growth still to come, wefelt that a secondary listing in London would be an excellent complement to ourprimary listing in Toronto. We believe the LSE offers strong financial marketsand extensive knowledge and support of internationally focused exploration,development and production led strategies."
The primary listing for common shares of Addax Petroleum will continue to be the
Toronto Stock Exchange where they currently trade. The Corporation is notissuing any new common shares in connection with Admission and the Corporationwill continue to have 155,077,530 common shares of no par value outstanding upon
Admission, each of which carries the right to one vote at every meeting of the
Corporation's common shareholders. The Corporation does not hold any shares intreasury. Accordingly, in conformity with rule 5.6.1 of the UK Financial
Services Authority's Disclosure and Transparency Rules (the "DTRs"), this figure(155,077,530) may be used by shareholders (and others with notificationobligations under the DTRs) as the denominator for the calculations by whichthey will determine whether they are required to notify their interest in, or achange to their interest in, Addax Petroleum under the DTRs.
Citi is the financial advisor, Freshfields Bruckhaus Deringer is the legaladvisor and Pelham Public Relations is the public relations advisor to the
Corporation in connection with Admission.
ewing4,
I also agree with the content and intent of BB's postings. Nobody knows how much this baby will fetch, but I'm betting it will be more than 22 cents!
Cheers
Brez
Can everyone keep their political views out of this board please. Some of us are not here for Dem vs Rep ideological battles, even if you trully believe that ERHE hangs in the balance, which it doesn't.
Cheers
Brez
....a shoe to drop??? I think??
Brez
Good news is that Offor is "MoU clutcher". Meaning he will not bring ERHE (like his other endeavours) to full fruition. He will play the game until he feels he will get the max (whatever that may mean) for ERHE. At that point he will let the company go.
We are simply in a waiting game here, nothing more nothing less.
Cheers
Brez
Now Strass, that's the spirit! A little humour!!!!
Cheers
Brez
...but, after aviation safety reports a short coming, the whole industry gets to apply the changes. Usually when one aircraft crashes, if a problem is perceived to be due to mechanical failure (versus pilot error or weather etc) than the whole fleet gets grounded until inspection/changes are carried out.
So, if all use same faulty deep water procedure, then all should be "grounded"
Having said that. The GOG may have less regulations therefore there may be a shift of assets towards the JDZ (maybe).
Cheers and good luck to us all with ERHE, those living on the GOM shores and please protect us all from Doug's revenge selling! :0)
Brez
dbernet,
I fully agree with you except for the "price ran away". It's still very cheap imo!
Brez
Doug, are you Cajun?
Brez
My guess is that the members of the JDA, whether Nigerians or STPs, know how to manipulate contacts. They also know the value of "leaks" to affect prices of penny stocks.
Therefore, some iHubbers, are probably being used and are unknowingly passing good or bad news. Meanwhile some relatives/friend/associate of these "JDA Source" are selling/buying/shorting and making a handsome living for the whole gang. Members of the press are also being duped and passing on mis/disinformation or blatantly doing it themselves for profit. Think about it. Have we ever heard a JDA member being fired for indiscretions? What about news source reporters over there? Not that I know of. I'm sure we are dealing with people that don't mind jumping on the internet and reading about fat cats in the Western hemisphere bragging about 2,3, 4 carriers worth of ERHE shares or the type of cars we have or how much money we made in the last run up and they don't have that. They must spend their time dreaming about their next pay check. More than likely they are dreaming on how to get more money together to keep on fleecing the fat cats with subtle disinformation.
I do not believe any comments made which start with "my source in JDA" "unnamed source in JDA" etc. They will scam, it's a way of life.
Except for the Nigerian Prince, who apparently will give me $2 Million if I help him with setting up accounts in the US or Canada. I will let you guys know how it goes!!
Edit: Let me add. I believe in the assets and will ride until they are found or until I can no longer hold. But I do not base my buy/sell decisions on JDA leaks or Oilyphants.
imho
Cheers
Brez
Well break out the disco ball we're back in the 80's (1980 to be precise)!
Brez
Thanks Strategyone,
Great post and couldn't agree more!
Cheers
Brez
What you are saying, can happen anywhere. On the OTCB or on the AIM. I really don't understand why folks keep saying that????
It's a non-player, it can happen now, tomorrow, next week, next month with our current listing!!!!!!!!
That's an accepted fact when you buy into any company. If a company wishes to do so they can put up to a vote and increase in shares and guess what? The majority will win???
So please, drop the dilution thing.
Cheers
Brez
Thank God! I thought they were going to keep them!!**
Brez
PS :0)
Thanks BB, that was a very good post with some real info.
Cheers
Brez
Looks like the rig hands did not have canaries on board!
Cheers
Brez
Most people usually get hired for what and who the know. If Blair had burned his bridges with Addax then I don't think he would be with us. You don't survive 35 years in a business by burning your bridges, I think he is the greatest positive sign to my investment!
Cheers
Brez
Doug,
278.5K is just one carrier, even if you were dumping, it really wouldn't matter and it would be a very short lived price drop.
Many here have a lot more than that.
Cheers
Brez
True,
But I've seen a lot more average Joe's just crash and burn because they were ill prepared!!
There's exceptions to everything. But strong foundations are usually a good start, not a guarantee.
Cheers
Brez
Thanks,
A breath of fresh air. I do believe that for the reasons you have stated the Total involvement will not be announced until after the EEZ auctions are closed.
Therefore, imo, I see eye to eye with you except I believe in this timeline;
1. EEZ Auction closes in September;
2. Total buy in block 1;
3. JDZ Announcements for Phase II;
4. EEZ Winners announced with valuation for blocks;
5. ERHE announces the sale of percentages of EEZ block to SNP for free carry. The sale price will be based on valuation from the EEZ auction.
6. Anytime after event #3 ERHE is in a potential buyout situation.
Cheers
Brez
...White knuckles and bleeding fingers around that slippery rope?
Sometime life sucks, but the good news is, you're not alone!
Cheers
Brez
Thanks
Brez