Addax Petroleum (fka AXC)

[midtieroil]

Anybody that knows anything about Joint ventures in the oil and gas industry understands that all major decisions are made by a committee of all joint venture partners. If ERHC had no say in in any decisions it was only because they had nobody that could contribute anything of value to to the technical discussion.

And CEPSA probably was not wrong. They likely drilled the best prospect in the block and it was a dry hole. Why would they not drill the best prospect and why stay in the block and drill an even worse prospect with an even higher chance of failure? That is why CEPSA bailed and why ERHC has no new partner 2 years after Tarach was found to be a duster.

Looks like my facts are right yet again, as usual. And yes it us tiresome being right so often.