Addax Petroleum (fka AXC)

[manuel06]

IMO the way things have gone in China with their energy companies has been lots of bankruptcies and severe financial scale backs. Several Chinese CEOs of large and national companies have been axed for either bad performance or corruption with the latter seemingly more prevalent. It was voted on as I owned AXC. Shareholders will want to see some value to buying out a company that seemingly so far, just have prospective acreages.I guess it helped SNP establish that AXC was a good investment as to the 140,000 b/d production and 540 million barrels reserves. 8.2 Billion Canadian....$52.00 + per share.China was buying companies with oil fields mostly and production.I guess what I am trying to say IMO is that some will not be okay with 1 good well and the company sold for pennies on their dollars, and after a 1/100 split. I am hoping for the best possible outcome with this well and some solid value to build onto, till we emerge as something worth some market excitement on the up trend and the share price catapulted up.