Addax Petroleum (fka AXC)

[midtieroil]

Yeah those last 6 dry holes ERHC drilled were said to hold 5 to 10 billion bbls of oil. Instead they held 0 bbls. Zip. Nada. None. And now ERHC owns the exact same blocks as before that have been devalued because of all those dry holes. Presumably they drilled the best prospects first and came up dry. Why should we expect further drilling to produce different results? Why hasn't ERHC been able to sign a partner in the JDZ for 6 years after 5 dry holes? Why did ERHCs partner in Kenya walk after one dry hole. Why did ERHC forfeit the Chad blocks after not finding a partner in 4 years of trying? And why has ERHC not found a partner in the EEZ despite owing those rights for a decade. And why is ERHC transitioning into a new line of business if their exploration assets have so much value? These are questions that should be answered before investing.