ADX - Audax Resources

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closes at 16.5c, 15k profit in a couple of weeks and plenty more to come :eek:

All that needs to happen now is for the management to follow through on their word, and release some suitable farm-out agreements in the "next few days" and we should go into the 20s

Then there is the gold spin out to come, which = free shares

All is well and going to plan

Here's a tip for you, when you see a director buying millions of shares in their own company, you follow suit and BUY!

Far more often than not, you're going to make a nice sized profit.

The Wolfman couldnt be handling things more perfectly IMO.

Drilling in a few months for a p50 1000 million barrel target, will take this into the $s with success
 

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I'm still around too James. Hard to believe it's been a year's holding already. I'm probably in at the highest entry price here (12.5c), but I'm loving the ride! Looking forward to next week.
 
Where are they going to get the US 20 million for the drilling of Sambucca?

I got in at 11.5 cents a couple of weeks ago with a small amount for some giggles and a laugh. Just think of it as a 25-1 punt on a Melbourne cup ride. Your horse is Sambucca and your jockey is Wolfgang Zimmer. Enjoy the race!
 
Apparently a stock analyst has picked ADX as a speculative stock tip. I do not have a link or know which paper/online site it's from.

Lambuka prospect (Formerly Sambucca) is an ultra high risk well. Chorbane is medium risk.

ADX may threaten the 25-30 cent mark come drill time, but when results are released and the news is not positive, how far do you think the stock could drop? below current levels? Maybe even down to 3-4 cents.
 
I'd take a speculative guess and say back to around 10c. A successful hit $1.90

On anticipation of results id say 27c

You're in at 11.5c, so if you're worried, free carry them at 27c before drilling and sell half your holding
 
James23 said:
I'd take a speculative guess and say back to around 10c. A successful hit $1.90

On anticipation of results id say 27c

You're in at 11.5c, so if you're worried, free carry them at 27c before drilling and sell half your holding
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so when are said results due?
 

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James23 said:
I'd take a speculative guess and say back to around 10c. A successful hit $1.90

On anticipation of results id say 27c

You're in at 11.5c, so if you're worried, free carry them at 27c before drilling and sell half your holding
Click to expand...

I'm not too fussed about losing money, as most of my money is in cash and i have not invested a bucket load on ADX. I think 27 cents is very optimistic. It could easily fall well below 10 cents, as the company is not making any money on oil production and failing to find oil will burn a lot of their cash and they will probably be in debt.

New announcement today. ADX teaming up with Bomborra Energy (another unknown) ADX are now only keeping 30% in their projects. Sold the farm away for too little in return?

Here is a question you need to ask when doing your research. Why no oil giants are interested in the highly prospective area in the med sea? because it has a long history of being filled with Co2 maybe? It just makes it way too expensive to drill oil. Hopefully the 3D imaging will pick this up if it's still occurring.
 
Seismic has finished saturday very interesting times for this company going foward,strong .17 finish on friday cheers David :)
 
ADX closed at 20 cents. Seismic results very soon. Maybe a good time to sell just before they start drilling, as the hype will push the price to a higher level and the possibility of the ultra high risk Lambouka well being a fail. That will send the share price crashing.

Lets hope Wolfgang and co are a bit more honest than Brian Waldron. :) Very interesting next 6 months ahead for ADX.
 
1000000 units buy at 20 on friday, I wonder what that says about the future for this company cheers david :)
 
About to break through to 22c... Alot of interest from some big buyers, obviously anticipating the seismic, plus wanting a position in the demerger, free shares to come who can complain
 
Took up my full rights entitlements yesterday.. an easy 75-100% gain coming from 15c in the next 6 weeks, provided the market steadys from here.

I will lighten my holdings at 28c. From there it's in the hands of the Gods
 
The 2 main wells would equal around 85% chance of fail each. 15-20% chance of success per well approxamately, around 30-40% chance of success adding the 2 together, plus some back up wells.

Even so, a 30-40% chance of success, for a 1000-5000% possible price gain, very good figures.

Add to that, the management hold millions upon millions of shares.

IMO this is the best oil bet on the market, plus easy gains to come in anticipation of drilling.
 
I'm just hoping ADX will reach 20 cents in the next three weeks and then I might sell off.

There could be an opportunity to buy back in again if Lambouka fails and they start an assault on Chorbane possibly.
 
ChrisFooty said:
I'm just hoping ADX will reach 20 cents in the next three weeks and then I might sell off.

There could be an opportunity to buy back in again if Lambouka fails and they start an assault on Chorbane possibly.
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You'll easily get your 20c.. the market has gone through a mini crash as of late, and ADX has held up strongly
 
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