Addax Petroleum Share Discussion Threads

[bluepill] 19/6/2009 23:33

For those of us that are impatient this bit of the Telegraph article is promising
'The speculation was that a formal offer for the company could be announced early next week'

Also this is supported by the fact that Sinopec execs were reported to be in London earlier this week to discuss takeover with Addax.

[bluepill] 19/6/2009 23:29

ONGC has been mentioned several times before in the press. If you go back a few weeks it was ONGC and KNOC that were mentioned before Sinopec came along.
Hopefully this will push up the bid price. I think ONGC won last time.

[trint76] 19/6/2009 19:20

Indian oil company said to be third bidder for Addax

Is it just gossip though....

[bluepill] 19/6/2009 17:24

Older press comment but nearer the drillbit.

[bluepill] 19/6/2009 16:51

China Petrochemical Corp. will drill its first exploration well in the Nigeria-Sao Tome and Principe Joint Development Zone next month after a lengthy delay caused by a shortage of deepwater rigs, two officials familiar with the matter said Friday.

Efforts to speed up exploration in Block 2 come as state-owned Sinopec seeks to clinch a takeover of Addax Petroleum Ltd., one of its partners in the joint development zone, or JDZ.

[bluepill] 19/6/2009 16:47

You're doing well.
I am a latecomer hoping to pick up a short term profit on takeover. Hopefully deliberations won't take too long.
I emailed the company today for information but no reply yet.

[leeson31] 19/6/2009 16:44

im here, thx 4 ur posts bluepill. i do read them all. i just dont generally post as theres nothing to say really... i was on me owm here at 600p!! :p

have a good weekend folks

[bluepill] 19/6/2009 16:42

Can't believe its so quiet when you look at HOIL, UEN and DGO threads.

[bluepill] 19/6/2009 16:42

Thanks, thought I was here on my own

[trint76] 19/6/2009 16:40

good to hear your comments bluepill, be dead otherwise today

[bluepill] 19/6/2009 16:38

Nice finish.
Looking forward to the weekend press

[bluepill] 19/6/2009 15:40

Up 3.5% in Toronto

[bluepill] 19/6/2009 14:55

Perking up in Toronto.
Sinopec shares not doing too badly also

[kirk2] 18/6/2009 11:43

great chance to get into afr at a rock bottom price, rumour of deal with addax in the pipeline check it out

[lukethefool] 18/6/2009 09:56

SURFER2.....

I was in SEY but bailed out at a loss. THey have large debt that has been extended to August and with Addax putting the Sangaw drill in late this year SEY may have already gone to the wall. THey have little income and cannot sell their US assets in order to finance the entrance into Kurdistan. Only hope IMHO is to get bought out but probably only for the Sangaw operating contract. The US stuff is disparate and the african wells are slowing.

I jumped to ADDAX as I wanted to be with the organgrinder not the monkey. Unfortunately SEY are so poor with communications a lot of people got pulled down with the share price and are living on a prayer over there.

As ever, just my opinion, DYOR etc... But seriously, put a speculative punt on SEY but nothing you can afford to lose.

ltf

[trint76] 18/6/2009 09:16

Multiple interests appears interesting, going to DMOR.

[bluepill] 18/6/2009 09:09

I think you have to decide if you want a ticket for this one or not. If you think the deal will transpire then get a ticket ofr 25-33% rise at least.
If you think that there will be no deal then stay clear and get in when the price falls.

Obviously I have a ticket.

[bluepill] 18/6/2009 09:04

Yeah, I topped up yesterday. Paid 2305.

[trint76] 18/6/2009 08:57

Wondering if I should jump in but the spread is darn big. Anyone topping up..?

[bluepill] 18/6/2009 08:34

Price of crude rising, markets blue today.
Does anyone think that this would get suspended when they announce bid?

spp- I have had a look at the EEL thread. Busy thread with lots of posts, I see little reference to Addax, mainly reference to KNOC. Are there specific posts that mention ADDAX? I will keep an eye on it though. Thanks for the nod.

[bluepill] 17/6/2009 21:18

Finished up at 43p in toronto.