Addax Petroleum (fka AXC)

[midtieroil]

I completely agree that the Elcrest partnership is doing better and that it is a partnership that is jointly owned by Starcrest(who is owned by Chrome) and Eland(who is an AIM listed company).

But that doesn't change the fact that the Elcrest partnership is heavily in debt and is NOT making distributions to its partners, Starcrest and Eland. Also Eland still has a going concern warning in their filings.

With no distributions from Elcrest that means Starcrest has no cash flow and with Chrome being closed, the Chrome Group, as a whole, has little to no cash flow either.

Yet some seem to believe that some combination of all these struggling companies will fix everything. I don't see how. If every single one of them is struggling independently, I do not see how combining them can be done or how it can possibly work. What stock exchange wants that mess and who wants to invest in it? Not me. And what tiny piece of the pie would ERHC shareholders end up with? Not much.