Addax Petroleum (fka AXC)

[sneak-attack]

The Facts are the Facts!! ERHE is not an Hydrocarbon Exploration Company by any stretch of one's Imagination.

ERHE is just a Hydrocarbon Property Holding Company in it's Purists Form.

Had one of ERHE'S Operating Partners discovered a sizeable discovery in the hundreds of millions of barrels, I am quite sure that all this Blaming Management would not be taken place.

Take the Kenyan block 11A, they found two fully charged drilling target zones with one extending 100 meters. This well was to contain 65 millions barrel. Assuming that the 65 million barrels represent the bare minimum for CESPA to develop since about 35 million
barrels would be their cut. CESPA decided to plug the well which would indicate a much lower yield than previously thought.

Since ERHE has absolutely No Control on what targets get drilled or what targets get developed, Blaming Management for failed drilling results is like Blaming Misspelled Words on your Pencil.

Unless ERHE can find a partner willing to develop smaller hydrocarbon carbon finds, the future will remain clouded in the fog of uncertainty!

Just More Facts!!

Bring on Starcrest or Eland Oil.

JMO

Sneak