Addax Petroleum (fka AXC)

[Julius Erving]

Troy,

What is interesting here to note is, that this has been addressed already, some months ago...

Because it is mathematically impossible. They raised a paltry $2M by leveraging their $90M market cap and crushing it to just $900K.

Now why SSD forgot I'm not sure.

I also already said to him that for the first time Peter & Sylvan are true STEAKHOLDERS. They probably took a salary cut also! Makes their investment even more significant.

There is no INCENTIVE anymore for them to (if at all) 'crush' the share price or 'mismanagement'.

If CEPSA hits oil in several weeks, the payoff would create such an unbelievable gain, from the levels those two managers bought, I hardly want to think about that scenario.

But what did you think of my arguments regarding what happens when the first drill is a dry hole?

Please reread my posts about that scenario. Would it be 'the end' for ERHC, with them (and Offor and who else for that matter in the background) or is there simple too much potential still for the coming years, with glut oil slowly disappearing?

Can you tell me and the board how much dollars Peter and Sylvan lose if ERHC would go belly up?

Tell me and the board here:

$...