Replies to post #9836 on Addax Petroleum (fka AXC)

[Julius Erving]

Sneak,

12 days until phase 3 starts.

JMO

Not your opinion, but fact. But maybe they ask for an extension, because our 'dry' hole is under review? Didn't they do that in the JDZ also?

I truly don't know what to think of this 'review'.

The editor of OilNewsKenya also does not know what to make of it, since he did not reply:

[/Hi Samuel,

I’ve read in ERHC’s latest 10Q that the Tarach-1 well is still under review.

In the case of TAIPAN’s dry Badada-1 well, the results were disclosed very fast, 45 days after spudding, without anything mentioned about the well results being still under review. In ERHC’s case we are now at day 140 already. And two months after you guys published the rumor on Tarach-1.

Can we deduct from this that there has to be a substantial difference between the dry Badada-1 well and the dry Tarach-1 well?

Taipan Resources Inc Kenya-based subsidiary Lion Petroleum has announced that the Badada-1 well has been drilled to a total depth of 3,500 metres MDBRT (Measured Depth Below the Rotary Table) and following completion of logging operations will be plugged and abandoned as a dry hole.

Taipan says it proposes seeking additional time from the Government of Kenya in order to complete its evaluation of the remaining prospectivity of what is a very large 5,458 sq km Block, prior to a decision on entering the next phase of exploration.


In our case the well itself is still under review... while TAIPAN knew immediately that the well: "the well has failed to find commercial hydrocarbons, minor gas shows and traces of heavier gas molecules indicate the presence of a thermogenic source rock."





The Doctor.

P.s.

Bob is still at it... in Kenya.

https://www.linkedin.com/in/bob-timmerman-6658047

[Tamtam]

So has phase 3 started?

[ssc]

So this is what phase 3 looks like. No news, no volume, and no one interested in paying 5 cents for the stock. Bears a striking resemblance to phase 2.

[ssc]

More than a month into Phase 3 (according to some opinions). Must not be going as expected for those who were recently adding shares above 3 cents.