Replies to post #8804 on Addax Petroleum (fka AXC)

[oldoil]

Here's the email from Rig 106. There were 3-4 exchanged between us, I believe I posted them all. I suppose someone else could contact "Dan".

Dear Carl,


The rig is not yet available as Cepsa drilling operations started later than expected.

Best Regards / Cordialement,
Daniel Herrera
SMP Sales Manager
Tel : [phone]
Cell : [phone]
e-mail : [e-mail]


-----Message d'origine-----
De : Carl xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Envoyé : jeudi 19 mai 2016 02:44

(XXXX....see Date....XXXXX( my additional comment on date see above)



À : Daniel HERRERA <[e-mail]>
Objet : mid May

Dan
You said rig 106 would be available mid-May. It’s mid-May??

Thanks,
Carl

[tryoty]

Reaching total depth takes 6-30 days depending on well depth (see page 2 http://energyindepth.org/wp-content/uploads/ohio/2013/05/oil-gas-regulatory-gap-analysis1.pdf)

So by May 14 or so, they were at total depth. If there wasn't any oil, plug and abandon. We would have known before the end of May if this well disappointed.

So it must have not disappointed.

[Strategyone]

The spud date was 4/14 according to ERHE's PR. We are now at 6/8 and today was the first day someone is noticing the Rig is "available" (although this does not necessarily mean CEPSA is done). Since this is nearly 60 days after the spud date, some of the oil professionals on this board were speculating this well was NOT likely a plug and abandon because that usually happens in a shorter period of time. Not the full estimated amount of time.

I am not an oil professional so don't quote me... I am just trying to connect the factual dots as they unfold.