Addax Petroleum (fka AXC)

[oldoil]

Whooo there my friend......Don't you remember the news from ERHE and their drilling results? Yes, exploratory as stated in the website. There is oil there and will probably be another well drilled...
Perhaps you missed that info. Just another fact.



1. Kenya Block 11A

a. ERHC’s preliminary analysis of the Tarach-1 drilling results reveals encouraging information for further exploration.
b. The objective of the well was to establish a working petroleum system and test a three-way structural closure trapping against a North-South trending normal fault.
c. The Tarach-1 well encountered two different hydrocarbon charged intervals, the first extending over 100 meters.
d. The significant oil shows and highly-elevated gas readings encountered by the well indicate the presence of a working petroleum system with the strong possibility of significant hydrocarbon generation.
e. As previously advised, the Tarach-1 well was always designed as an exploratory well. It has been plugged following conclusion of drilling. Post-well analysis continues.
f. ERHC holds a 35% interest in Block 11A.