Replies to post #14137 on Addax Petroleum (fka AXC)

[kingpindg]

On what responsibilities to Kenya has CEPSA defaulted?

Thanks.



.

[sneak-attack]

Cespa was carrying the cost drilling cost of the Kenyan Government as well as ERHE.

The Kenyan government accepted Cespa's request to leave the block and ERHE retains its original percentage of 90%.

What is unique is the fact that when SNP left the JDZ, they did not charge, nor did ERHE record their share of drilling cost despite the carry interest.

ERHE is free to look for other partners in developing the block.

Just the facts as reported. Or food for thought. Who Really knows how this will all shake out, but Total Fina seems to be interested in the JDZ, The two deepwater blocks in Nigerian waters and block 4 of the EEZ. Pipeline is running thru Kenya and may come from Uganda as well as Southern Sudan.

Have a wonderful weekend.

Sneak