Addax Petroleum (fka AXC)

[midtieroil]

No one on the face of the earth values ERHC'S blocks at anywhere close 30 million. None have any reserves, probable reserves or even possible reserves. Fact is ERHC is trading at .0002 because their current liabilities of over 12 million is more than the value of their blocks. Their block in Kenya is subject to forfeiture due to a delinquency of 9 million dollars. Same goes for the Chad block for failing to meet a 15 million dollar exploration obligation under the PSC. The JDZ has been dead as a doornail for over 6 years after 5 dry holes. How much are those blocks worth? And ERHC has been unable to find a single partner in the EEZ in over a decade of trying. Saying these blocks are worth 30 million has NO basis in fact. I've shown my proof of that. I'd love to hear yours.