Replies to post #12109 on Addax Petroleum (fka AXC)

[midtieroil]

So you think CEPSA and ERHC didn't drill the well with the highest chance of success first? I would love to hear the logic on that one.

Also, CEPSA has not committed to moving to the next Exploration period in Kenya in a year. They also have removed Kenya from their website and appear to have closed their office in the country. Does any of that signal a desire to move forward in the block?

What do you think the consequences to ERHC will be for being delinquent on almost 10 million in drilling costs on the Kenya well. If ERHC had the right to move forward with or without CEPSA, wouldn't they have already done so?

I am still of the opinion that Kenya is gone as far as ERHC is concerned. These blocks are not awarded in perpetuity and delinquency on paying your share of the drilling costs is one of the most serious breaches of contract there is.