Addax Petroleum (fka AXC)

[oil-cowboy]

If there is something in the works it will probably come close to looking like this....

Thanks globaloil

Update of my speculative hypothesis...

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115241015

The CPC process for RAP.P to acquire ERHC Energy:

1. Incorporate the shell company - done

2. File the prospectus to take the company public - done

3. Hire a broker - done

4. Complete/close the offering - done

5. Obtain the CPC listing (i.e., RAP.P) - done

6. Identify the "Qualifying Transaction" (QT) - pending

7. File QT statement with TSXV for minimum listing req's and await approval - pending

8. Arrange private placement funding with strategic investor - pending

9. QT closes and RAP.P becomes RAP

ERHE shareholders obtain payout from proceeds of QT when ERHC Energy's assets are purchased by RAP.P, along with strategic investor(s). Remember, if the strategic investors wanted to purchase ERHC Energy outright on the open market, the price would go up significantly during the hostile attempt to gain control. The price of the buyout (via the CPC process) is the premium paid over the current market price to allow the deal to go through without having to try to buy out the entire float. I believe that buyout price can be estimated based on the net cost basis for PN and SO over the past year.

As I noted in a post in June 2015:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=114779551

...the buyout price per share would reflect the reality that the cost basis for a simple majority of the shareholders would result in profits for the most recent 2.1B (pre-R/S) shares that hit the market starting last year. My prediction last June was based on the then-122M shares collectively owned by PN and SO. That total has changed recently and so has their net cost basis for those purchased shares. If you want to know for yourself, please take the time to calculate PN's and SO's cost basis based on the Form 4s and you will know where the breakeven point is for them and can adjust your expectations and post-R/S purchases accordingly so you (even the most upside-down legacy shareholder) too can profit from the forthcoming events.