Replies to post #7418 on Addax Petroleum (fka AXC)

[Julius Erving]

Since Peter and Sylvan are extremely incompetent, it is indeed expectable that they would have been buyers over the last year.

They should have listened to you, and start buying in the next round of dilution indeed.

Most likely the creation of a 3nd generation of wiped out legacy shareholders, will create the true winners.

WHY doesn't MANAGEMENT listen to you, the well known Ihub poster?

Seriously, I don't get it.

SDD, tell me in the mean time, what will happen with the share price if those CEPSA botchers find commercial oil on their first drill?

Irish explorer Tullow Oil—the company credited with putting Kenya on the world’s oil map with a game-changing discovery of 600 million barrels in the South Lokichar basin in 2012—says oil can be produced in Kenya for around $25 per barrel, which would make it one of the cheapest places in the world for producers.

THE DOCTOR!

[tryoty]

ssc, this scenario will not happen. Will NOT. Why?

Because it is mathematically impossible. They raised a paltry $2M by leveraging their $90M market cap and crushing it to just $900K.

With the market cap at $2.4M, the same ration would be to raise $53K only to end up with a market of $24,000.

Raising capital via toxic debt from this level to pay for more than lunch isn't feasible let alone paying for drilling.

Yet they bough the stock... there has to be another plan.