Addax Petroleum (fka AXC)

[seek the light]

I do not understand at all how you arrived at a price of $45 per barrel as the buy in price for the Tullow Kenya assets by the Indian company. The original story had a estimate of in excess of 1 billion barrels of reserves. And then somehow arrived at a total value of $27 billion [Maybe $45 minus cost of $18 equal a gross profit of $27 per barrel x 1 billion barrels or $27 billion]

Anyway the discounted present worth of oil reserves proved by drilling cannot be more than about $10 per barrel in the ground.