Addax Petroleum (fka AXC)

[seek the light]

The JDZ and the EEZ are governed by seperate [from Nigerian waters] PSCs and treaties that give the oil companies a better deal than the proposed PIB for Nigeria, so it seems those big companies might want to spend their exploration dollars in those areas as opposed to in Nigerian deep water. I read recently that TOTAL is not happy with the proposed PIB. I think TOTAL may be going slow on the Engina development as a results. I have not seen any announcement of a FPSO being ordered yet for Egina, and that was supposed to happen in the summer just past. All JMO.