Replies to post #13170 on Addax Petroleum (fka AXC)

[midtieroil]

Block 11A has no reservoirs to date. Tarach was a dry hole. The COS for every future well drilled has now decreased as a result of a dry hole in the block. With a marginal COS of 18.8% to begin with, there may not be any interest by anyone to drill another well in 11A. Obviously ERHC tried and was unable to farm out any more of Tarach before they drilled Tarach. Now it will be harder. Also, ERHC may not even still have rights to the block because the exploration period expired and no extension has been granted. Worst of all nobody has expressed any interest in 11A since the dry hole was drilled.