Addax Petroleum (fka AXC)

[globaloil]

If they hit commercial oil, I think that management will sell off the entire company outright after de-risking the whole block. Probably $80-90MM divided by 35-40 million shares. That's $2.00-2.50 per share and makes both PN and SO millionaires (along with anyone else who paid their dilution premiums, such as LMLT, et al.). Most of the post-dilution (after 750MM O/S) shareholders are in at less than $0.20 post-split PPS, so a 10+ bagger would easily be approved by a simple majority. Just my wild theory.