Addax Petroleum (fka AXC)

[Julius Erving]

A nice reminder:

http://www.businessdailyafrica.com/US-oil-firm-EHRC-plans-to-drill-Turkana-well-/-/539552/2473224/-/15fpaiaz/-/index.html

In 2014 it was expected that drilling would take place END of 2016.

What did Peter write recently:

"We continue to work relentlessly toward a spud date for the Tarach-1 well near the end of the first quarter of 2016."

We know he is right, but I don't know WHY cepsa is working relentlessly these days!?!



Also a confident reminder:

"Tullow explores for oil in Turkana. Swala will take a second stab at selling its interest in Block 2B after a similar botched deal with Spanish CEPSA."

“The issue is management of risk so that would be the same under any oil price scenario,” said Dr Ridge. Tullow’s local exploration is at the expense of French Guiana, Mauritania and Norway.

http://www.businessdailyafrica.com/Swala-mulls-over-putting-Kisumu-oil-block-on-sale/-/539552/2597586/-/13qhuivz/-/index.html

“The reduced exploration programme will predominantly focus on a number of high-impact, low-cost exploration opportunities in East Africa.

‘‘While this is a challenging time for our sector, Tullow is fortunate to benefit from world-class, low-cost and high-margin assets, strong and growing cash flows and a broad, diversified funding position,” said Tullow chief executive Aidan Heavy a week ago."

Is block 11A's first drill fitting the description "High-impact, low-cost" opportunity?

CEPSA seemed to make a clear choice with 11A, while dropping 2B.

The Doc.