Addax Petroleum (fka AXC)

[sneak-attack]

There were (2) fully charged interval with (1) over a 100 meters and had significant oil shows and gas.

This was, for all intended purposes an "Exploratory Well" and not a production well.

This was not an appraisal wells and it proved that Hydrocarbons are in the area.

Cespa has not released the detailed scietific drilling information about the wells discovery other than to state the well was not commercial and deemed the well dry, thus plugged and abandoned.

This is not to say all is written off. Cespa could still drill the other target.

Remember, Cespa was looking for drilling results that could tie this formation back to a the larger structures in the middle of the basin.

Have a Great Day!

Sneak