Addax Petroleum (fka AXC)

[Julius Erving]

Sneak:

We are moving forward with the Deloitte Game Plan.

It indeed does not radiate that they are about to close shop...

Haven't looked at the 10Q yet myself, but a fellow investor did:

"But I like the tables in the Kenya section...Phase 1 complete. Phase 2 complete. Onto Phase 3 starting on Sept 1.

They're also doing 2D seismic in Chad in 2016, which suggests that there may be some interested parties...especially since they paid for and completed the work programs to date and as required in Chad. See...CN's aren't just going to pay for pay checks. They're going to all of this other stuff.

Oando was sold.

Deloitte for both Kenya and Chad still in play.

Other concessions in other African Countries still in play...we might get another asset with carry again, especially now that oil prices are up....especially since over $100k was paid for such a concession according to 10Q."


On a other note:

The drilling of Tarach 1 well commenced March 2016 and drilling results are currently being reviewed.

Eh... so, it seems they started in March already. Let me take the last day of March, that means that we are at least at day 138 today. "The drilling results are currently being reviewed"

The rumor of the 'dry and abandoned well' (more information still not accompanied by that rumor) was from June 15th. That's more than two months ago. Obviously it is clear by now that the well was not so dry as Sarah Silverman's **ssy around guys who can't help her in the business (Courtesy: Comedy Central's Roast of...)


The Doctor.