Addax Petroleum (fka AXC)

[midtieroil]

Of course it was an exploratory well but to even imply that it's OK that it was dry hole because it was just an exploratory well is absurd. I'm surprised anyone buys that malarkey from ERHC or from anybody else. And perpetuating that myth just makes it worse. The well was a failure, was extremely disappointing and it puts the future of the entire block in jeopardy.

We have too little information to know if any more drilling will occur in the block. But what we do know is that it has been over a year since drilling and nobody has committed to drilling another well any time soon. Doesn't seem like anyone is overly excited to do so.