ADX - Audax Resources

[drillfix]

Folks, Im changing my ways, so with whats left of what I can borrow Im going to persue some Oil or CSG. Better late than never I guess.

Seems to be more interest of Oil - CSG etc etc on this thread comparible to other so can some of you seasoned Oil Dudes share some opinion with Audax Resources.

Lets start off with World Energy Resources paying 100% drilling costs ($23 Million USD) of the Sambuca prospect for 40% stake of the project.

Now thats what I call a free ride, nice work there Wolfgang Zimmer.

Any thoughts on this ADX stock folks???

ps: I know most here think I need a shrink, but if you care to note thats only with some #$%^ woman on URA and not with other stocks.

[STRAT]

Hi Drillfix.
This one has had a good run. All high volume days pushed the price up. Some indicators have given sell signals.
If I had bought closer to the bottom I would continue to hold to see if it has more legs.
Looking to buy in now I would be waiting for it to break out of the trading range of the last few weeks.

[Crypto Crude]

currently trading at 9.4cent ADX is definately a good stock to buy in 2010...
I was discussing this stock very recently on the NZO thread, check it out...
will discuss more soon...
..
.

im looking for an entry...
feeling like I can be patient and will wait for a few more months...
maybe late Jan...
:cool:
.^sc

[drillfix]

Hi SC, good to see you have carried this thread on a bit.

Lots of chopping and changing going on with Audax.

Now a change in plan with Sambucca. Wonder who or what will be next on that front?

Wouldn't mind a 10K share punt on this one, but will wait and see for the moment.

[percy]

thank you shrewd crude for your post on nzo thread.
i brought some adx yesterday and a few more today,not large parcels.
david salisbury of nzo spoke of the oil industry in romania using outdated russian equipment,and thought modern equipment would get excellent results.
salisbury said he had worked in the romanian oil business.

[Crypto Crude]

I think a wait on ADX is the best bet for now...
I will get in around 8cents I reckon...
this could still fall further...
:cool:
.^sc

[drillfix]

I think a wait on ADX is the best bet for now...
I will get in around 8cents I reckon...
this could still fall further...
:cool:
.^sc

Yes is a slow game for the ADXer's out there.

I was in back in May when it was on a run and looked like running.

Had to get out not long after as it was sideways for some time.

A hard to pick stock, but if you got enough doe to Park some money then when whatever eventual news of Sambuca eventuates then it will or should be worth your wait.

[Crypto Crude]

Great post AA,

Audax has a few bows to its strings, but it does have time to clear a few small issues (financing of Sambuca)...

New Zealand Oil and Gas Know these Romanian permits are worth something, it would be good for them to front up with drilling action and carry us... Kupe is a big earner which will further see their ability to carry ADX in the future as NZO move to a International growth story...
These permits in Romania are going to be blast. Just over the boarder they have drilled hundreds of wells with great success rates, and we are now trying to figure out if this trend is going to continue ADX lands, or in the same basin...(the Salisbury connection)...

The deal with PGS reads well as the seismic contractor fronts with double costs / stake.

and of course, the hype with the drilling of Sambuca which will get ADX to 20cents, if at the time Romania is ticking along or NZO moving in for a firmer deal, then this could run more...

This stock has a good trade in it... mainly BESBS play as the reasoning...
I still think a few months of wait...
:cool:
.^sc

[percy]

Second quarter activities report positive with alot going on this year.Should be interesting year,with gold spin off and two wells to be drilled.
Thanks SC for your thread on nzo thread that made me look at and then buy.
lol when in later threads you were holding off until the price dropped,made my day!!!

[COLIN]

Great post AA,

Audax has a few bows to its strings, but it does have time to clear a few small issues (financing of Sambuca)...

New Zealand Oil and Gas Know these Romanian permits are worth something, it would be good for them to front up with drilling action and carry us... Kupe is a big earner which will further see their ability to carry ADX in the future as NZO move to a International growth story...
These permits in Romania are going to be blast. Just over the boarder they have drilled hundreds of wells with great success rates, and we are now trying to figure out if this trend is going to continue ADX lands, or in the same basin...(the Salisbury connection)...

The deal with PGS reads well as the seismic contractor fronts with double costs / stake.

and of course, the hype with the drilling of Sambuca which will get ADX to 20cents, if at the time Romania is ticking along or NZO moving in for a firmer deal, then this could run more...

This stock has a good trade in it... mainly BESBS play as the reasoning...
I still think a few months of wait...
:cool:
.^sc

I suppose it is rather churlish of me to gently point out that NZO have announced that they are now not pursuing their previously stated interest in Romania, but it has to be noted on this thread.

Sorry to rain on the parade!

[Corporate]

I don't no why you guys are bothering with ADX. There are so many better oilers out there.

[percy]

thank you shrewd crude for your post on nzo thread.
i brought some adx yesterday and a few more today,not large parcels.
david salisbury of nzo spoke of the oil industry in romania using outdated russian equipment,and thought modern equipment would get excellent results.
salisbury said he had worked in the romanian oil business.

Although nzo and others have pulled out what salisbury said still holds,and adx has the permits.So reasons for purchase remains.I believe Wolfgang has also worked there.

[Misc]

Salisbury worked there also in his OMV days. The point here is 2 mid tier oilers have bailed out of an AMI that was heavily promoted by ADX. ADX must now pay its own way in this venture having been 'carried' by NZO and NXS previously. The Romanian permit award round mid this year will unlikely favor ADX on its own. That was the reason for partnering with 'big brothers' in the first place according to ADX releases. The last GFC saw ADX tank to sub 2c. Looks to be headed back there. Cheers

[percy]

I must repeat the quote I posted on nzx cyt thread.
I now know what Emperor Hirohito meant with his quote after the allies dropped the second atom bomb. " The war is not necessarily going our way"
Please P donot post a chart!! I can feel the sell signals in the pit of my stomach so donot need to see them!!!.I know what a long term investment is.It's a short term one that did not work out right.

[percy]

Salisbury worked there also in his OMV days. The point here is 2 mid tier oilers have bailed out of an AMI that was heavily promoted by ADX. ADX must now pay its own way in this venture having been 'carried' by NZO and NXS previously. The Romanian permit award round mid this year will unlikely favor ADX on its own. That was the reason for partnering with 'big brothers' in the first place according to ADX releases. The last GFC saw ADX tank to sub 2c. Looks to be headed back there. Cheers

Thanks for your advice.Sold today @ .0936 and .094.

[Crypto Crude]

Yes...
Recent, well, (a few weeks back) it came forth that NEW Zealand Oil and Gas David Salisbury pulled its interests in Romanian permits connected to ADX making me reconsidering the investment I was going to place.....

The reason NZO pulled out was because of timing issues / progress is not moving forward fast enough... And I think because of this NZO think they can get results from Romania more quickly themselves, as this is still a core focus of NZO's International portfolio going forward....

These Romanian licences are still supreme prospects, but if David Salisbury decided to pullout, then I know he would have done it for good reason...

Taking all this in,
I still think that ADX represents buying potential IF they drill Sambuca, or another big prospect as Audax have a drill schedule for June-sept this year... this will cause the sp to run up 20c in the lead up, as chance of drilling the well derisks...
With changing nature of Romania interests, downside support on failure of big target well is not protected, and therefore more risky...
and, with no hedge on drilling failure im now not personally looking to make an entry as I had previously anticipated...

for me in this type of investment downside support on the failure of any exploration well is a must, this means I don't invest willingly, and will look for another company...
this is why stocks like NZO are such great companies to invest in...
It just a pity, like so many other oilers, that these companies have had poor exploration drilling success over the years...
The odds are right... risk return is all stacked up...


I still think there is a great trade in this stock for a BESBS play,
if thats what it is your into...

Misc reckons ADX 2cent?
well, not at least until after this years explor program...

yeah, and NZO 50centers mate...
:cool:
.^sc

[Corporate]

SC - good decision, the risk involved in ADX is too high. You're old favourite CUE is such a better punt!

Cue..two potential multi TCF drills this year, backed by Maari and PNG.

[Crypto Crude]

corporate,
wish I hadnt changed my mind...
ADX up 110% this year...
20c in the lead up to drilling, now becomes 30cents...
:cool:
.^sc