Replies to post #6604 on Addax Petroleum (fka AXC)

[Julius Erving]

My dear buddy Troy copy-catted me.

The Doc said it waaay time ago...

Lol. (I'm just kidding... actually not.)

But Troy said more true things:

It wasn't/isn't because they have inside info we don't... they *know* they aren't closing the doors... and we do too, via their commitment to buying so many shares.

Because without this sentence one could not speak of a 'fire sale'

My 2 cents on:

What I can't decide is are they willing to roll the dice on Kenya and hold, or is the company going to be sold prior to drilling like Addax was. I just don't know. Walking from the STP-EEZ may be a **HUGE** mistake, but holding through the Kenya drill and missing could mean the end of the company before the STP-EEZ gets drilled.

Maybe the sum of money they got for EEZ 11 gives them the opportunity to continue despite a dry hole in 11A...

An indication could be the fact that there is a clause that ERHC will profit from oil in EEZ 11. Why the clause if ERHC very likely, probably, does not exist anymore, since finding oil is always a high risk? Also... I'm sure that if block 11 could be sold, that block 4 also could have been sold if they wanted, which could carry them through Chad for instance.

AND... above all, you forgot about someone: SEO, who can, if he wants, step in at ANY time to keep ERHC alive.

Remember, SEO is the guy that spends more on welfare in 1 year than on ERHC... just think about that.

The Doc.