Press Room

The information and documents below are for 2009.
For information relating to previous years, please refer to our archives 2008 - 2007 - 2006.

Information in the following news releases was accurate at the date of issuance, but may be superseded by subsequent news releases or other public disclosure.

Sinopec International Acquires 100% of Addax Petroleum Corporation Shares

Calgary, Alberta, October 5th, 2009 – Sinopec International Petroleum Exploration and Production Corporation is pleased to announce that effective October 2, 2009, its indirect wholly-owned subsidiary, Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), acquired all of the common shares of Addax Petroleum Corporation ("Addax Petroleum") not taken up and paid for under the offer for all of the issued and outstanding common shares of Addax Petroleum dated July 9, 2009, as extended, made by Mirror Lake (the "Offer"). Mirror Lake acquired such additional common shares pursuant to a compulsory acquisition under section 206 of the Canada Business Corporations Act. Mirror Lake now owns 100% of the issued and outstanding common shares of Addax Petroleum.

Sinopec International Takes Up Additional Addax Petroleum Corporation Shares

Calgary, Alberta, August 27th, 2009 –

Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that additional common shares of Addax Petroleum Corporation ("Addax Petroleum") have been tendered to the offer (the "Offer") dated July 9, 2009, as extended, made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect whollyowned subsidiary of Sinopec International. Mirror Lake has taken up all such additional Addax Petroleum common shares as of the expiry of the Offer on August 27, 2009 and has now taken up an aggregate of 162,947,508 Addax Petroleum common shares, representing approximately 98.22% of the Addax Petroleum common shares on a diluted basis.

Addax Petroleum Commences Exploration Campaign In Joint Development Zone

Drilling first deepwater well at Kina Prospect in JDZ Block 4 licence area

Calgary, Alberta, August 26th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX:AXC and LSE:AXC) today announced receipt of Transocean’s Deepwater Pathfinder drillship and commencement of its exploration drilling campaign in the deepwater Gulf of Guinea with the spudding of the “Kina” prospect in Block 4 of the Nigeria Sao Tome and Principe Joint Development Zone (“JDZ”).

Sinopec International Pays for Addax Petroleum Corporation Shares and Will Appoint New Addax Petroleum Board of Directors

Calgary, Alberta, August 18th, 2009 – CALGARY, Canada, August 18 /PRNewswire/ -- Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that it has paid for the common shares of Addax Petroleum Corporation ("Addax Petroleum") that were validly deposited to and not withdrawn from the offer (the "Offer") dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International. As previously announced by Sinopec International, as of August 14, 2009, an aggregate of 153,734,120 Addax Petroleum common shares, representing approximately 92.67% of the Addax Petroleum common shares on a diluted basis, were tendered to the Offer.

Sinopec Group Completed the Acquisition of Addax

Beijing, China, August 18th, 2009 – BEIJING, Aug. 18 /PRNewswire-Asia/ -- China Petrochemical Corporation ("Sinopec Group") is pleased to announce that the acquisition of Addax Petroleum Corporation ("Addax") was successfully completed after nearly six months of due diligence and negotiation.

Sinopec International Takes Up Addax Petroleum Corporation Shares and Extends Tender Offer for Remaining Shares

Beijing, China, August 14th, 2009 – BEIJING, Aug. 14 /CNW/ -Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that 153,734,120 common shares of Addax Petroleum Corporation ("Addax Petroleum"), which represent approximately 92.67% of the Addax Petroleum common shares on a diluted basis, have been tendered to the offer (the "Offer") dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International. Since all of the conditions to the Offer have been satisfied, Mirror Lake has taken up all of the Addax Petroleum common shares tendered to the Offer as of this date.

Addax Petroleum Announces Sinopec's Receipt of Approvals from the People's Republic of China

Calgary, Alberta, August 10th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) today announced that it has received confirmation from Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) that it has obtained all approvals required from the relevant Government Entities of The People’s Republic of China (“PRC Approvals”) in order for SIPC and Mirror Lake Oil and Gas Company Limited (“Mirror Lake”), an indirect wholly-owned subsidiary of SIPC, to complete the acquisition of Addax Petroleum. SIPC has also confirmed that receipt of the PRC Approvals satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the “Offer”) made by Mirror Lake that the PRC Approvals be obtained.

Addax Petroleum Announces Record Production in Second Quarter 2009 Results

Calgary, July 27th, 2009 –

Record quarterly production of 143.2 Mbbl/d
Funds Flow From Operations of $306 million
Net Income of $38 million

Addax Petroleum Announces Receipt of Letter from Kurdistan Regional Government of Iraq

Calgary, Alberta, July 22nd, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC), today announced that it has received a letter (the “KRG Letter”) from the Minister of Natural Resources of the Kurdistan Regional Government (the “KRG”) and has confirmation from Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) that receipt of this letter satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the “Offer”) made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of SIPC, that Addax Petroleum obtain the KRG Letter.

Sinopec Commences Take-Over Bid For Addax Petroleum

Calgary, Alberta, July 9th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC), today announced that Mirror Lake Oil and Gas Company Limited (“Mirror Lake”), an indirect wholly-owned subsidiary of Sinopec International Petroleum Exploration and Production Corporation (“SIPC”), has today commenced its offer for Addax Petroleum (the “Offer”) and mailed the Offer and take-over bid circular (the “Offer Documentation”) as well as the Addax Petroleum directors’ circular, containing the Addax Petroleum board’s unanimous recommendation to accept the Offer, to Addax Petroleum shareholders. On June 24, 2009, SIPC and Addax Petroleum reached an agreement for Mirror Lake to make an offer to acquire all of Addax Petroleum’s outstanding common shares for C$52.80 per common share in an all-cash transaction.

Addax Petroleum Announces The Regulatory Filing Of The C$52.80 Per Share Cash Offer By Sinopec International Petroleum Exploration And Production Corporation

Calgary, Alberta, June 25th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announced today that the definitive agreement (the “Acquisition Agreement”) with Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) pursuant to which SIPC has agreed, subject to the terms of the Acquisition Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid for C$52.80 per common share has been filed with the Canadian and U.K. securities regulatory authorities. A copy of this document may be obtained via www.sedar.com and www.londonstockexchange.com.

Addax Petroleum Announces C$52.80 per Share Cash Offer by Sinopec International Petroleum Exploration and Production Corporation

Calgary, Alberta, June 24th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announced today that it has entered into a definitive agreement (the “Support Agreement”) with Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) pursuant to which SIPC has agreed, subject to the terms of the Support Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid (the “Offer”) for C$52.80 per common share in cash. The Offer represents a 47% premium to the closing market price on the TSX of the Addax Petroleum common shares on June 5, 2009, the day prior to Addax Petroleum's public announcement that it was in preliminary discussions with parties regarding a potential transaction. SIPC is a wholly owned subsidiary of China Petrochemical Corporation ("Sinopec Group") and undertakes overseas investments and operations in the upstream oil and gas sector. Sinopec Group is China's largest producer and supplier of oil products and major petrochemical products.

Addax Petroleum Responds To Press Speculation

Calgary, Alberta, June 8th, 2009 –

Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) has been made aware of press speculation involving the Corporation and the interest in it by third parties with respect to a possible acquisition or business combination. In response to that press speculation, Addax Petroleum acknowledges that it has held preliminary discussions with third parties expressing an interest in a potential transaction with the Corporation. While such preliminary discussions are ongoing, no assurance can be given that a transaction will be completed. Addax Petroleum does not intend to make further comment unless or until there is a transaction to announce.

Addax Petroleum And Genel Energy Commence International Export From Kurdistan Region of Iraq

Crude oil from Taq Taq license area exported to international markets

Calgary, Alberta, June 1st, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) today announced that, together with partner Genel Energy International Ltd. (“Genel Energy”), it has commenced the international export of oil from the Taq Taq license area. The crude oil is being trucked to the Khurmala station and is then exported to international markets via the Iraq-Turkey main export pipeline which runs to the Mediterranean port city of Ceyhan.

Change to Record Date For Dividend

Calgary, Alberta, May 28th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announces that, further to the dividend declaration in the news release issued on May 13, 2008, the dividend record date has been changed to Monday, June 8, 2009. The dividend payment date of June 18, 2009 remains unchanged.

Addax Petroleum Presents at Upcoming Conferences

Calgary, Alberta, May 28th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the Credit Suisse London Oil & Gas Conference 2009 on Tuesday, June 2, 2009 at approximately 2:30 p.m. British Summer Time (9:30 a.m. Eastern Time).

Addax Petroleum Announces Acquisition Onshore Gabon With Immediate Exploration Drilling

Potential farm-in for 50 per cent interest of Ogueyi licence area including currently drilling Azango exploration well

Calgary, Alberta, May 14th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) today announced that it has agreed to fund an exploration well in the Ogueyi licence area, onshore Gabon, with the potential to earn a 50 per cent interest in the licence area. Perenco, as operator of the Ogueyi licence area, has recently spudded the exploration well targeting the Azango prospect.

Addax Petroleum Announces Strong Cash Flows In First Quarter 2009 Results

Calgary, Alberta, May 13th, 2009 –

High impact projects expected to yield a transformational year

Addax Petroleum Receives Notification For International Exports from The Kurdistan Region of Iraq

KRG authorises commencement of crude oil exports from the Taq Taq field
Calgary, Alberta, May 11th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX:AXC and LSE:AXC) today announced that it has received formal notification from the Kurdistan Regional Government (“KRG”) of its decision to commence the export of crude oil. The notification requests that Addax Petroleum and Genel Energy International Ltd (“Genel Energy”) prepare to truck oil from the Taq Taq field to the Khurmala export station on or soon after June 1, 2009. The crude oil will be marketed by the State Oil Marketing Organization (“SOMO”) and revenues will be directed to Addax Petroleum and Genel Energy through the coordination of the KRG on terms to be agreed under the framework of the production sharing contract. Crude oil delivered to the Khurmala station will be exported via the Iraq-Turkey main export pipeline to the Mediterranean port city of Ceyhan.

Addax Petroleum First Quarter 2009 Conference Call

Calgary, Alberta, May 6th, 2009 – Addax Petroleum Corporation (TSX: AXC and LSE: AXC) (“Addax Petroleum” or the “Corporation”) will announce its financial results for the quarter ended March 31, 2009 on Wednesday, May 13, 2009, and will discuss its financial results in a conference call on Wednesday, May 13, 2009 at 11:00 a.m. Eastern Time / 4:00 p.m. London, U.K. time. Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, and Mr. Michael Ebsary, Chief Financial Officer, will discuss the Corporation’s most recent financial and operating results.

Addax Petroleum Presents at Upcoming UBS European Mid-Cap Oil Conference

Calgary, Alberta, March 20th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the UBS European Mid-Cap Oil Conference in London, U.K. on Wednesday, March 25, 2009 at approximately 2:15 p.m. London U.K. Time (10:15 a.m. Eastern Time).

Addax Petroleum Announces Record Well Test in Taq Taq Appraisal Program

TT-10 appraisal well generates record aggregate rate of 44,240 barrels per day

Calgary, Alberta, March 18th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX:AXC and LSE:AXC) today announced flow test results for the TT-10 well, the seventh Cretaceous appraisal and development well drilled on the Taq Taq field by Taq Taq Operating Company, the joint venture company formed by Genel Enerji A.?. (“Genel”) and Addax Petroleum to carry out the petroleum operations in the Taq Taq license area.

Addax Petroleum Announces London and Toronto Capital Markets Days

Calgary, Alberta, March 17th, 2009 – Addax Petroleum Corporation (TSX: AXC and LSE: AXC) (“Addax Petroleum” or the “Corporation”) will host a management presentation to financial analysts and investors on Monday, March 23, 2009 in London, U.K. and on Tuesday, March 24, 2009 in Toronto, Canada. The Corporation’s senior management team, including Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, Mr. Michael Ebsary, Chief Financial Officer, Mr. Jeff Schrull, General Manager Exploration, and Mr. Henry Legarre, Technical Manager Middle East will discuss the Corporation’s most recent operating results and expectations regarding future operations.

Addax Petroleum Secures Fifth Generation Drillship to Commence Deepwater Exploration in 2009

Deepwater exploration campaign expected to commence in the fourth quarter of 2009
Calgary, Alberta, March 11th, 2009 –

Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX:AXC and LSE:AXC), today announces that it has signed an agreement with a subsidiary of Transocean (“Transocean”) for the provision and operation of the Deepwater Pathfinder drillship to commence its deepwater exploration drilling campaign. Addax Petroleum expects to receive delivery of the Deepwater Pathfinder at the end of the third quarter 2009 and intends, subject to Joint Development Authority approval, to commence the drilling of the Kina prospect in Block 4 of the Joint Development Zone shortly thereafter.

Addax Petroleum presents at the Firstenergy / Société Générale Canadian Energy Conference

Calgary, Alberta, March 6th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC), announces that Mr. Michael Ebsary, Chief Financial Officer, will be presenting at the FirstEnergy / Société Générale Canadian Energy Conference in New York, USA on Thursday, March 12th, 2009 at approximately 3:35 p.m. Eastern Time (7:35 p.m. London Time).

Addax Petroleum Announces Record Results for 2008

Calgary, Alberta, March 4th, 2009 –

41 per cent increase in Funds Flow From Operations to $1,850 million
63 per cent increase in Net Income to $784 million
8 per cent increase in Production to 136.5 Mbbl/d
20 per cent increase in Proved plus Probable Reserves to 536.7 MMbbl

Addax Petroleum 2008 Results Conference Call

Calgary, Alberta, February 25th, 2009 – Addax Petroleum Corporation (TSX: AXC and LSE: AXC) (“Addax Petroleum” or the “Corporation”) will announce its financial results for the year ended December 31, 2008 on Wednesday, March 4, 2009, and will discuss its financial results in a conference call on Wednesday, March 4, 2009 at 11:00 a.m. Eastern Time / 4:00 p.m. London, U.K. time. Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, and Mr. Michael Ebsary, Chief Financial Officer, will discuss the Corporation’s most recent financial and operating results.

Addax Petroleum presents at the 12th annual CIBC Whistler Institutional Investor Conference

Calgary, Alberta, February 13th, 2009 –

Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX: AXC and LSE: AXC), announces that Mr. Michael Ebsary, Chief Financial Officer, will be presenting at the 12th Annual CIBC Whistler Institutional Investor Conference, in Whistler, Canada on Thursday, February 19th, 2009 at approximately 1:35 p.m. Eastern Time (6:35 p.m. London Time).

Addax Petroleum Announces Another Year of Successful Production and Reserves Growth in 2008

Calgary, Alberta, February 4th, 2009 –

20 per cent increase in Proved plus Probable oil reserves to 536.7 MMbbl
23 per cent increase in unrisked prospective oil resources to 2,772 MMbbl
17 per cent increase in contingent gas resources to 2,820 Bcf
281 per cent Reserve Replacement Ratio
Extended Reserve Life Index to 10.8 years

Addax Petroleum Announces Significant New Discovery in Nigeria

Exploration success with Njaba discovery in onshore OML124 license area
Calgary, Alberta, January 28th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX:AXC and LSE:AXC) today announces a significant onshore oil discovery from the Njaba 2 well (formally Okaka) currently drilling in the eastern part of the OML124 license area in Nigeria. Addax Petroleum has a 100 per cent working interest under a Production Sharing Contract covering the OML124 license area, whereby the Nigeria National Petroleum Corporation is the concessionaire. Addax Petroleum currently produces approximately six thousand barrels per day from the Ossu and Izombe fields in OML124, which is located within the stable and peaceful Imo State.

Addax Petroleum Announces Update To Gabon Drilling Program

Successful appraisal and development wells in Etame Marin license area
Calgary, Alberta, January 9th, 2009 – Addax Petroleum Corporation (“Addax Petroleum” or the “Corporation”) (TSX:AXC and LSE:AXC) today announces the successful appraisal and development of the Ebouri field in the Etame Marin license area offshore Gabon. Addax Petroleum has a 31.36 per cent non-operated interest in the Etame Marin license area.