Addax Petroleum (fka AXC)

[midtieroil]

Yes, we all know of the inaccurate information that cost gullible investors lots of money over the years and exactly where it came from.

It started with what was supposed to be 10 billion bbls of oil in a river running beneath the JDZ. 5 dry holes later it was zero bbls of oil.

Then there were dozens of fake buyouts including the whiteboard where ERHC was supposed to be sold for $10 a share or more. ERHC was never sold and then, even after a 1:100 reverse split, ERHC share price went to .0001 instead.

Then there were claims that buying millions of shares of dilution insurance at much higher prices than now was a great idea. It was a disaster.

Also, there were claims that the debentures ERHC issued weren't toxic. They turned into 300 billion spit-adjusted shares being issued. Not toxic? Actually highly toxic.

Rumored $50 million signature bonuses that never happened.

Big black blobs that turned into nothing more than dry holes.

Inflated chances of success and bloated valuations have run rampant as well.

Then there was months of hearing about a Kaboom that was supposed to take ERHC to the moon. Instead the opposite happened.

Now we have the claims of ERHC going from .0001 to $2 to $7. Based on what?

And claims of a new ERHC stock listing with no evidence to back it up.

The only thing that has been consistent in ERHC's history are false claims that have never come to fruition. Maybe it will be different this time. But I doubt it.

Relying on facts is a great idea. Unfortunately history shows these so called facts were nothing more than fantasy.