AXC Addax Petroleum

 

TIDMAXC 
 
RNS Number : 5368T 
Addax Petroleum Corporation 
08 June 2009 
 

 
 
ADDAX PETROLEUM RESPONDS TO PRESS SPECULATION 
 
 
Calgary, June 8, 2009 /CNW/ - 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. 
 
 
About Addax Petroleum 
 
Addax Petroleum is an international oil and gas exploration and production 
company with a strategic focus on West Africa and the Middle East. Addax 
Petroleum is one of the largest independent oil producers in West Africa and has 
increased its crude oil production from an average of 8.8 Mbbl/d for 1998 to an 
average of 134.7 Mbbl/d for the first quarter of 2009. Further information about 
Addax Petroleum is available at www.addaxpetroleum.com or at www.sedar.com. 
 
 
Reader Advisory Regarding Forward-Looking Information 
 
 
Certain statements contained in this news release constitute forward-looking 
information within the meaning of applicable Canadian securities legislation. 
Such statements are generally identifiable by 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. 
 
 
Forward-looking information is subject to known and unknown risks and 
uncertainties attendant with oil and gas operations, assumptions and other 
factors which may cause actual results, levels of activity and achievements to 
differ materially from those expressed or implied by such statements which 
include, but are not limited to: 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. 
 
 
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 in this news 
release are expressly qualified by this advisory. 
 
 
 
 
For additional information, please contact: 
+-------------------------------------------+---------------------------------------+ 
| Mr. Craig Kelly                           | Mr. Nick Cowling                      | 
| Investor Relations                        | Press Relations                       | 
| Tel.: +41 (0) 22 702 95 68                | Tel.: +1 (416) 934 80 11              | 
| craig.kelly@addaxpetroleum.com            | nick.cowling@cossette.com             | 
| Mr. Chad O'Hare                           | Mr. Mark Antelme                      | 
| Investor Relations                        | Press Relations                       | 
| Tel.: +41 (0) 22 702 94 10                | Tel.: +44 (0) 20 7337 1500            | 
| chad.o'hare@addaxpetroleum.com            | mark.antelme@pelhampr.com             | 
| Ms. Marie-Gabrielle Cajoly                |                                       | 
| Press Relations                           |                                       | 
| Tel.: +41 (0) 22 702 94 44                |                                       | 
| marie-gabrielle.cajoly@addaxpetroleum.com |                                       | 
+-------------------------------------------+---------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 SPCLVLFBKQBEBBV 
 

Grafico Azioni Addax Petroleum (LSE:AXC)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Addax Petroleum (LSE:AXC)
Storico
Da Giu 2023 a Giu 2024