Replies to post #9332 on Addax Petroleum (fka AXC)

[seek the light]

My best guess is they needed losses! NAW!!! What the heck? It came from their bank accounts and they bought because they are two of the few people on the face of the earth that has any idea what the company's assets are worth.

They bought for the same reason anyone ever buys to make a profit. Also they have a "PLAN".

[Julius Erving]

Emdyal,

I'm more sincere here than I ever was.

There is no 'spin' here.

Accept the fact that you can't come up with an answer.

Accept the fact that a conspiracy theory is absurd here.

Management bought shares from their own bank accounts I'm sure. Any money they received from ERHC is in the books.

You know that, I know that. If not, their careers in the Western World would be over.

Let's fight the professional "penny stock" flippers together, Emdyal.

It's indeed a mystery why the CEO and the CFO bought in so big, and gambled, like it seems.

They warned everybody, so they are/were more than aware of what could happen, I cannot emphasize this enough:

It is important to remind investors and other stakeholders that no wells have previously been drilled in our Blocks in Kenya and Chad. While the geological and geophysical work indicates prospectively, there are no guarantees before drilling that there will be a discovery of hydrocarbons. If there is a discovery, there is no guarantee that it will be commercial or in such quantities as to justify a development project.

I don't think the company is for the birds, if a dry hole is disclosed. Otherwise they never would have made such substantial investments in ERHC, leading up to this 'long shot' as some described it.

Indeed pretty baffling.

The Doc.