Addax Petroleum (fka AXC)

[nordicroots]

The only trouble with that notion is that while we can all agree that they are "cheap" today relative to where most of us originally bought in, there is not a lot telling us that is a circumstance that will change anytime soon. Organizations that lack transparency face a double edged sword in this respect. And you know the recent history as well as anyone, as ERHC began to drill in Kenya there was always the possibility that we'd strike oil and that yielded a bit more short lived speculative interest - but that is now in the rear view mirror. The reality is that we are no longer seeing those same sorts of catalysts to turn this share price higher. This might make one think that while the shares are "cheap" now - unless something changes - but there is also the possibility the price will get even cheaper.

I am constantly reminding my colleagues that most investors want not just a return ON their investment - they also wish to see a return OF their investment. I think Cowboy's point about shares being cheap needs to be put into context, sure we might as well get'm while they are cheap - because there might not be a market for them at all if things don't change. And that going concern statement should be a great big clue for all of us.