Addax Petroleum (fka AXC)

[Julius Erving]

If this were the case why would cespa not take the extra chunk of Kenya that Erhe has been trying to farm out, cespa probably could've picked it up cheap, probably still can! This would've maybe insured Erhe had enough money to make it to drilling and cespa claims more of the block! Strategic investor bit was to sell the RS

I'm beginning to think/suspect more and more that Peter & Sylvan were inclined to buy in bigtime, even before oil glut/CN's.

I think they made the best out of a disastrous situation. Understatement.

I'm sure CEPSA would have and (of course) could have come up with the amount of money, that now has been collected via the CN route... for a proper additional percentage in this 30 million dollar investment.

I think that Peter & Sylvan gave preference to the CN route because they knew upfront they were willing to buy large amounts of stock at these absurd prices, indeed: created by the CN route! And who knows who from certain inner circles also used the opportunity to pick up shares also, even from within the Kenya government, like Krom suggested a long time ago. Totally legal. If oil is found, "fire sale" share price is an understatement.

I don't think it was an ad hoc decision of them management... to buy stock and go the CN route/to go the CN route and buy stock.

It is unlogical that CEPSA would not have tried to get a bigger piece of the pie, for just a relatively few bucks.