Addax Petroleum (fka AXC)

[Julius Erving]

This is indeed very good news, in general

According to our sources, Kosmos won’t stop there. During earlier talks on its eventual arrival in the EEZ, the American company indicated it could be interested in buying stakes in the JDZ with Nigeria. Kosmos, which is backed by equity funds and thus finds itself less exposed to swings in share prices on the stock market and in the oil price, is taking full advantage of less stringent work commitments than in the past as well as a sharp drop in the cost of seismic campaigns given the number of boats that are stuck in ports for want of contracts. A 3D seismic survey on its Sao Tome permits is already being planned for 2017.

I reckon that our blocks, with seismic, are not totally written of. More seismic in other blocks could produce more insight in how to 'read' the JDZ blocks, including ours.