Based on recent mgt presentations, it would appear that Addax is pulling no punches that drilling will begin in the 4th QTR.
Significant Potential Medium Term Reserve Additions • Exploration blocks on trend with world-class oil fields • 2007 unrisked resources of 1.2 billion barrels (476 MMbbl risked) - Acquired for $259 million • Experienced Deepwater exploration and drilling teams preparing for first well in 2008 with term contract drilling in 2009 Targets to commence high impact exploration drilling in late 2008