I feel that Addax will be a stronger and more cooperative partner than Noble. Politically, I think that Nigeria will be definite in demanding that Addax be approved.
The Addax website shows that they have been able to achieve large amounts of oil production out of blocks that the majors were unable or unwilling to actualize.
I expect a much stronger PR position from Addax on this deal with mention of ERHC than either Pioneer or Noble has done. This could encourage Eupopean money to invest in ERHC as well.
I think that Exxon and Anadarko are "done" in Block 4. Apparently, they have no Nigerian support at all and Nigeria is the senior partner of the JDZ.
Acccording to recent Homeport posts Pres. Menezes appears to be getting stronger and forming more effective alliances for the coming elections,
Unless he wants to do damage to his relations withj Nigeria, he will probably approve the Addax entry into Block 4.
I expect Addax will be willing to fast track its exploration of block 4. For Addax it would make a trmendous difference to their oil reserves and future production and they apparently have a good working relationship with Norwegian rig companies.
Persoanlly I feel Addax is a better and more cooperative ERHC and Nigerian fit.
I expect the price to go up shortly, except for the factors of SP manipulalion by whomever.
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