Addax Petroleum (fka AXC)

[Julius Erving]

Sneak, I have no idea what it means.

In order to reduce cost, a liner may be used which extends just above the shoe (bottom) of the previous casing interval and hung off downhole rather than at the surface. It may typically be 7", although many liners match the diameter of the production tubing.

Why is a liner a waste of money, if I read the above?

Also:

One or more production strings or liners are common for a well, depending on “mud weight window” and things like pipe sticking, reactive shales, and other problem areas.

http://gekengineering.com/Downloads/Free_Downloads/A_Guide_to_Well_Construction.pdf

Maybe the old man can elaborate on this, for us lay men?

The Doctor.

P.s.

Oh, if only oil is found, all our worries are gone within a heartbeat.

Remember, glut oil and cn's caused an almost 400x drop in share price. Despite the dilution, getting back to old levels would recoup all losses... and then some.

With this revelation it is expected that the two joint venture could be discussing a new arrangement that could allow further activity in the block as the earlier agreement only allowed a continued participation by CEPSA only in the case of a hydrocarbons find.

I'm sure CEPSA is familiar with the concept of exploratory drilling. And it is their 'key focus' nowadays, as we have read.

If even I am familiar with the concept of exploratory drilling, CEPSA sure is. 11 or so more drillable prospects, and a second basin, and little old ERHC owns it.

We are not dead yet, by far. No matter what the outcome of the arrangement is, there will be an arrangement for sure. We are at day 157 at least, since the 10Q tells us that spudding was in March.

Even the messengers of the rumor agree with me that it is almost certain that they are "discussing a new arrangement that could allow further activity in the block".

Keyword here is: 'ALLOW', only a new arrangement ALLOWS further activity in the block.