Replies to post #8054 on Addax Petroleum (fka AXC)

[ssc]

Will drilling even matter? At current levels, $1 million worth of toxic notes = 50 million new shares. Arguments that ERHC would not issue more toxic notes after the reverse split are conspicuously missing, as are the praises of delusion insurance. It might be time to rerun any possible future share price projections using several hundred million shares outstanding.

Without transparency from ERHC regarding the share structure, it's not difficult to understand why the ask keeps dropping. No way of knowing the actual market cap or how much additional toxic debt is or will be floating around. Not exactly the way to entice buyers or "excite the market". By the way, the average cost of insider buys by PN and SO of about 20 cents are now down about 80%. What a mess they have created.

[bmu]

Thank you Doc.
Thank Dan
Getting giddy

[oil-cowboy]

Nice! Drillin's here :-)

[oldoil]

We all know Dan Keeney will announce ERHC pr's as they allow him. I have found Keeney to be respectable and honest as he handles the PR's...BUT...

There are a lot of people also involved in this venture and it will be impossible to mute all the coming news.....(btw, I do not repost Kenney's emails with me.)

[arnim-v-b]

thanks Doc....