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.
The common shares of Addax Petroleum have been delisted from the Toronto Stock Exchange and the London Stock Exchange effective October 5, 2009.
Reader Advisory
This announcement is for informational purposes only and does not constitute or form part of any offer or invitation to purchase, acquire, subscribe for, sell, dispose of or issue, or any solicitation of an offer to sell, dispose, issue purchase, acquire or subscribe for any security. The Offer (including any variation or extension in accordance with applicable securities laws) was made exclusively by means of, and subject to the terms and conditions set out in the Offer documentation delivered to Addax Petroleum shareholders and filed with the Canadian provincial securities regulators and the UK Listing Authority. Shareholders of Addax Petroleum should read these materials carefully as they contain important information, including the terms and conditions of the Offer and the compulsory acquisition of the Addax Petroleum shares. The Offer documentation is or will be available electronically without charge at www.sedar.com.
For further information: Sinopec International Petroleum Exploration and Production Corporation: Mr. Handong Rui, Email: hdrui@sipc.cn
This announcement does not constitute an offer of, or the solicitation of an offer to buy or subscribe for, common shares of Addax Petroleum to any person in any jurisdiction to whom or in which such offer or solicitation is unlawful and, in particular, is not for release, publication or distribution in or into the United States, Australia or Japan.
The offer and sale of the common shares has not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States unless registered under the Securities Act or an exemption from such registration is available. No public offering of common shares of Addax Petroleum is being made in the United States.
Certain statements in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties described in the Prospectus that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements.