Replies to post #12085 on Addax Petroleum (fka AXC)

[DegenerateGambler]

erhc's assets are worthless. For many, many years ERHC has been trying to monetize them and has come up empty. What does that tell you. They have sold what they could and now they are let with a pile of do do that no one wants. Then consider the debts the company has and bankrupt city real soon. I only hope it happens soon, so PN stops getting paid his outrageous salary.

[midtieroil]

No the stock is down because of abysmal management, no oil found and lack of any revenue to sustain operations.

And this theory that anyone wants any of ERHC'S assets seems far fetched. They jettisoned Chad and one of the EEZ blocks because nobody wanted ERHC or their properties as a partner after years of trying.

And I don't believe for a second that ERHC has any say on what happens in Kenya. They are not the operator, they are a minority partner who is delinquent, they have no money, the exploration period expired and there has been no activity for a year.

I guess this is a repeat of The JDZ hoax where some still say there was oil there, that it was being hidden, that the operator didn't leave and that operations would start back soon. Six years later it is as dead as ever.