Addax Petroleum (fka AXC)

[ssc]

Sorry, I thought the consequences of the 1st well coming up dry are too devastating for ERHC shareholders to even consider. But if you insist on discussing that sad scenario, I would start off by suggesting that with no cash AND no carry, paying ERHC's share of any additional wells would probably consume most if not all of the second 3 billion shares. Another veritable buying extravaganza for those of the delusion insurance persuasion, I suppose, but most likely the creation of a 2nd generation of wiped out legacy shareholders.