Addax Petroleum (fka AXC)

[seek the light]

Well that post certainly got a response. How can anyone really know we have hit a low point already for the company?

PN had to know that OFFOR was prohibited from putting anymore money in the company from the very beginning of his tenure as CEO. And yet he was not able to inspire enough confidence in his management style [ with good reason] to be able to raise enough money to keep the company viable financially. His next plan was to raise the authorized shares to 3 billion so he could sell toxic convertibles. That my friends is his plan, and it will dilute the present shareholders to oblivion.

Then he recruited people through DK to defend his great "we are starting over" plan to generate a rising stock price leading up to the next drilling of a well to make us all rich. When does that start? And those 3 billion shares can become reality quickly if convertible notes are the only way to raise funds.

And DOC, 50 million barrels will then be worth about .10 cents a share.

Also there is old 2 d seismic on both Chad and EEZ block 11 that can be and has been reprocessed by the company. Indeed this is the reason for their increased enthusiasm for these two areas.

Person knows OFFOR and has nothing good to say about PN. The BOD needs to fire him and DK.