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Monday, April 28, 2008 10:23:15 AM
[their portion only]
contain 742+ Million Barrels Unrisked and 389 MM bbls risked
they have stated these figures several times.... see here .....
http://www.addaxpetroleum.com/_media/2007-10-24_Investor_Presentation_Canaccord.pdf
Q: do you agree with them from your research and analysis of the region and surrounding fields ???
On trend with world-class oil fields
– Agbami (Chevron): 800 to 1,000 MMbbl (”Big 5”)
– Bonga (Shell): 700 MMbbl
– Akpo and Usan (Total): 500 MMbbl each
• Unrisked EUR : 742 MMbbl (389 risked), acquired for
$185 million ($0.25/bbl unrisked) - excl. JDZ 1
• Experienced deepwater exploration and drilling
teams assembled
• Deep water drilling rig contracted for up to 10 wells,
starting in Q4 2008
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