Disclaimer

Legal Notice
This site is owned and maintained by Addax Petroleum. You agree to the following terms and conditions when utilizing this site.

Copyright and Trademark
All material on this website is protected by copyright. The material may be used and copied for non-commercial, personal or educational purposes, provided that all information used is not modified and that copyright or trademark notices are not deleted. Any other use of this material without Addax Petroleum’s written permission is prohibited.

Except as otherwise noted, the trademarks and logos displayed on this website belong to The Addax & Oryx Group and to Addax Petroleum and may not be used without The Addax & Oryx Group's or Addax Petroleum’s written permission. Third party trademarks displayed on this website may not be used without Addax Petroleum’s prior written permission.

Our Website - Service Only Provision
This website is not intended to be used in a solicitation manner or for the offering of securities in any jurisdiction. The material on this website is not intended to modify, qualify, supplement or update information disclosed under corporate and securities legislation of any jurisdiction related to Addax Petroleum and should not be used for the purpose of making investment decisions concerning Addax Petroleum’s securities. Printed copies of public disclosure documents may be requested from Investor Relations at Addax Petroleum by telephoning.

Linked Websites
Addax Petroleum provides links, upon written permission, to third party websites for convenience only. The inclusion of these links does not imply that Addax Petroleum monitors, endorses or is responsible for the content and information on these websites.

Internet Communications
Due to technical difficulties typically found with the Internet, Internet software or transmission problems could produce incomplete copies with inaccurate information. Computer viruses or other destructive programs may also be accidentally downloaded from this website. Addax Petroleum disclaims liability for any Internet software, computer viruses or destructive programs that may be inadvertently downloaded from this website. Addax Petroleum’s recommendation is that you install appropriate anti-virus or other protective software.

Exclusion of Liability
Addax Petroleum, its affiliates and related companies shall not be liable for any claims, expenses, loss of profits or damages (including direct, indirect, special or consequential damages) arising from:

the use of or dependence on information contained in this website;
any error or omission in such information or failure to update information in a timely manner;
use of third party websites linked to our website;
any Internet software used in connection with our website, computer viruses, or other destructive programs encountered as a result of using our website; and
all other matters related to this website; even if Addax Petroleum is made aware of possible claims, expenses, damages or losses.

Forward-Looking Statements
Certain statements contained on this website, including statements related to future capital expenditures, financing and capital activities, business strategy and goals, future commodity prices, reserves and resources estimates, drilling plans, development plans and schedules, future seismic activity, production levels and sources of growth thereof, results of exploration activities and dates that areas may come on-stream, royalties payable, contingent liabilities and government approvals, statements that contain words such as “may”, “will”, “would”, “could”, “should”, “anticipate”, “believe”, “intend”, “expect”, “plan”, “estimate”, “budget”, “outlook”, “propose”, “project”, and statements relating to matters that are not historical fact constitute forward-looking information within the meaning of applicable Canadian securities legislation.
Forward-looking information is subject to known and unknown risks and uncertainties attendant with oil and gas operations, and other factors, which include, but are not limited to: [insert specific risks]; imprecision of reserves and resources estimates; ultimate recovery of reserves; commodity prices; general economic, market and business conditions; industry capacity; competitive action by other companies; refining and market margins; the ability to produce and transport crude oil [and natural gas] to markets; weather and climate conditions; results of exploration and development drilling and other related activities; fluctuation in interest rates and foreign currency exchange rates; ability of suppliers to meet commitments; actions by governmental authorities, including increases in taxes; decisions or approvals of administrative tribunals; changes in environmental and other regulations; international political events; and expected rates of return. More specifically, production may be affected by exploration success, start-up timing and success, facility reliability, reservoir performance and natural decline rates, water handling and drilling progress. Capital expenditures may be affected by cost pressures associated with new capital projects, including labour and material supply, project management, drilling rig rates and availability and seismic costs.
On this website the Corporation has made assumptions with respect to the following:

prices for oil and natural gas;
oil and gas reserve and resource quantities and the discounted present value of future net cash flows from these reserves and the ultimate recoverability of reserves;
timing and amount of future production, forecasts of capital expenditures and the sources of financing thereof;
the amount, nature, timing and effects of capital expenditures;
plans for drilling wells and the timing and location thereof;
expectations regarding the negotiation and performance of contractual rights;
operating and other costs;
business strategies and plans of management;
anticipated benefits and enhanced shareholder value resulting from prospect development and acquisitions; and
treatment under the fiscal terms of Production Sharing Contracts and governmental regulatory regimes.

The Corporation’s actual results could differ materially from those anticipated in these forward-looking statements if the assumptions underlying them prove incorrect, or if one or more of the uncertainties or risks described above materializes. Risk factors are discussed in greater detail in filings made by Addax Petroleum with the Canadian provincial securities commissions

Readers are strongly cautioned that the above list of factors affecting forward-looking information is not exhaustive. Further, forward-looking statements are made as at the date they are given and, except as required by applicable law, Addax Petroleum does not intend, and does not assume any obligation, to update any forward-looking statements, whether as a result of new information or otherwise. The forward-looking statements contained on this website are expressly qualified by this advisory.

Special Note Regarding Currency, Production and Reserves
In this website, all references to “$” or dollars means United States dollars unless otherwise stated.
Addax Petroleum's reserves are evaluated by Netherland, Sewell & Associates, Inc., an independent qualified reserves evaluator. The reserves have been evaluated as at 31 December 2008 in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, which prescribes certain standards for the preparation and disclosure of reserves data, resources and other information for reporting issuers engaged in oil and gas activities. The full Statement of Reserves Data and Other Oil and Gas Information (Form 51-101F1) is contained in Addax Petroleum's Annual Information Form dated March 4, 2009, which is available on www.sedar.com or here.

Contact
If you have any questions about the information contained on this site or other questions about Addax Petroleum please contact:
press.relations@addaxpetroleum.com