Addax Petroleum (fka AXC)

[Julius Erving]

Wow, 'brother' Tullow is a serious bargain as of today:

this is from yesterday, before the extreme plunge of today:

After all, if we take a closer look at the trading volume of Tullow's shares on the LSE on November 13, we will uncover a literally staggering fact. The gist is that volume was the highest in almost five years. The sell-off was impetuous. It is tough to say what precisely fueled the sell-off and such precipitous price slide, but, as a reminder, institutional ownership in Tullow is high, so, the drop was so momentous perhaps because some funds with substantial shareholding in the company curtailed their exposure, as the equity lost its appeal for them.

https://seekingalpha.com/article/4311264-tullow-oil-reanimating-thesis

This is a obvious case of 'institutional panic'.

Almost 90% institutional:

https://simplywall.st/news/breaking-down-tullow-oil-plcs-lsetlw-ownership-structure/

It's for a good part the resignation of Paul McDade, Chief Executive Officer, and Angus McCoss, Exploration Director... rest was already mostly known…

Wow.