Contradiction Extractor8. Look at Tuneman's post 70992 below which is an e-mail directly from Addax explaining the 2008 timing and the fact that they hope for a "rig of opportunity" to commence drilling prior to that.
I like to be optimistic for the reasons I explained in my post about 10 posts ago, but there is a contradiction about the information being posted here:
Tunemans message:
Here is my e mail response from my contact at ADDAX in regards to my question:"Could you please advise me if Addax has firmed up any plans or has outlined any schedules for drilling in the Nigerian Sao Tome' Joint Development Zone? Or could you give me an update as to any activities in this area. I was impressed with you companies acquisition of rights in this area ( JDZ) but I have been unable to find any follow up on these activities.:
RESPONSE:
Thank you for your email and your interest in Addax Petroleum.
In terms of our involvement in the JDZ, Addax Petroleum recently hired a deepwater specialist to head our JDZ exploration group. Jeff Schrull was formerly with Chevron and had, in fact, headed up their involvement in the JDZ. Jeff has subsequently filled out his team and they have been working on an exploration plan for Block 4. In addition, we have taken the lead to coordinate the operators of Blocks 1-4 (including Anadarko, Sinopec, Chevron and ourselves) in order to jointly contract a deepwater rig to drill the first 6 exploration wells (3 of which are on Block 4). As you are probably aware, the market for deepwater rigs is very tight these days - but we would anticipate contracting a rig in the coming months and expect to commence drilling the 6 wells as early as 2008. We will also continue looking for a "rig of opportunity" and are prepared to drill the first well on Block 4 earlier than 2008 should a rig slot become available.
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