Replies to post #7294 on Addax Petroleum (fka AXC)

[globaloil]

Calculation of cost basis for PN and SO:

Post R/S price

PN @ $0.200

SO @ $0.183

[Strategyone]

Tryoty,

I am thinking along the same lines you are. I also think they will want to get a return on their money.

SEO originally put in $6 million. BUT, Chrome went on to fund (by way of loans and interest) ERHE before they got the JDZ money. Chrome was "paid back" from shares only. I am pretty sure the strike price was around .22 Presplit. So, Offer/Chrome are probably into this investment by about $8 - $10 million.

We all know they didn't hit the hopeful elephant field in the JDZ which would have given ERHE hundreds (plural) of millions in market cap but if they hit even their prospective oil amounts with their onshore Kenya property, the Market cap will not be near the current $3 million.

I actually think there is a chance a transaction goes down before they drill. It won't be for nearly as much but these guys may be ready to avoid the risk of not striking oil. They even hinted on this approach a year ago or so.

Good luck to us all.

[Julius Erving]

Reminder:

SEO originally put in $6 million. BUT, Chrome went on to fund (by way of loans and interest) ERHE before they got the JDZ money. Chrome was "paid back" from shares only. I am pretty sure the strike price was around .22 Presplit. So, Offer/Chrome are probably into this investment by about $8 - $10 million.

We all know they didn't hit the hopeful elephant field in the JDZ which would have given ERHE hundreds (plural) of millions in market cap but if they hit even their prospective oil amounts with their onshore Kenya property, the Market cap will not be near the current $3 million.

Courtesy: Strategy