Addax Petroleum (fka AXC)

[Julius Erving]

LoL:

"Dont panic shorts will soon rush to close out."

https://uk.advfn.com/stock-market/london/tullow-oil-TLW/share-chat

The Doc.

Also:

Reasons for decimating the share price by 70% currently. The Group expects 2019 full year net production to average c.87,000 bopd. The Group also expects to deliver free cash flow of c.$350 million. The group has liquidity headroom in excess of $1 billion and no near-term debt maturities. 2020 Group production is forecast to average between 70,000 and 80,000 bopd. Group production for the following three years is expected to average around 70,000 bopd. The non-operated portfolio is performing well, and production is expected to be sustained for the medium term. The audits show increased oil reserves for Jubilee, Ntomme (offset by a c.30% decrease in Enyenra reserves) The Board believes that a series of actions will help deliver sustainable free cash flow. "Despite today's announcement, the Board strongly believes that Tullow has good assets and excellent people capable of delivering value for shareholders. (Announced at share price of £1.40) The drilling of the Carapa-1 well on the Kanuku Block in Guyana continues, with a result expected before the year-end. Hmmmm Yes, thats got to be reason enough for decimating the share price by 70% today..

If the Carapa well is sweet oil (now being drilled), then the share price will explode up again.