CALGARY, June 9 /CNW/ - Addax Petroleum Corporation (TSX: AXC and
LSE: AXC) ("Addax Petroleum" or the "Corporation") today made the following
It is with regret that Addax Petroleum reports the death of a Nigerian
Navy personnel member following the defense of a vessel which had been
contracted by the Corporation to provide security services on OML126, offshore
Nigeria. During the incident four other Navy personnel and crew were injured.
Addax Petroleum would like to extend its sympathy and sincere condolences to
the family of the deceased over this very sad loss and extend our support for
a full and speedy recovery for the injured.
OML126 is located approximately 90 kilometres offshore south of Port
Harcourt, and approximately 40 kilometres from the Nigerian coastline, in
water depths averaging 130 metres. At approximately 11:45 pm on Sunday,
June 8, 2008, the Navy vessel on OML126 was approached and attacked by unknown
assailants in two speedboats. The two speedboats departed without any adverse
effect on the Corporation's operations or technical infrastructure in OML126.
The Navy personnel and vessel have been taken to LNG Bonny Island where the
injured personnel are receiving medical attention.
Commenting, Jean Claude Gandur, President and Chief Executive Officer of
Addax Petroleum said: "We are deeply saddened by this incident and our
thoughts and prayers are with the victim's family and those of the injured
personnel. Since commencing operations in Nigeria a decade ago, Addax
Petroleum has established a practice to proactively build excellent
relationships with the local communities and has fostered a climate of open
dialogue and mutual respect. We strongly believe that this unfortunate
incident was a pre-meditated act by criminal elements seeking personal benefit
and is inconsistent with the socially responsible relationship that exists
between Addax Petroleum and the local communities."
Full investigations into this criminal incident are underway by local and
federal security and government agencies and by Addax Petroleum.
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 8,800 bbl/d for
1998 to an average of approximately 139,100 bbl/d for the first quarter of
2008. Further information about Addax Petroleum is available at www.sedar.com,
www.londonstockexchange.com or the Corporation's website,
Legal Notice - Forward-Looking Statements
Certain statements in this news release constitute forward-looking
statements under applicable securities legislation. Such statements are
generally identifiable by the terminology used, such as "anticipate",
"believe", "intend", "expect", "plan", "estimate", "budget", "outlook", "may",
"will", "should", "could" , "would" or other similar wording. By its very
nature, such forward-looking information requires Addax Petroleum to make
assumptions that may not materialize or that may not be accurate. This
forward-looking information is subject to known and unknown risks and
uncertainties and other factors, which may cause actual results, levels of
activity and achievements to differ materially from those expressed or implied
by such information. These factors are discussed in greater detail in filings
made by Addax Petroleum with the Canadian provincial securities commissions.
Readers are cautioned that the forward-looking information contained in
this news release is made as of the date of this news release and, except as
required by applicable law, Addax Petroleum does not undertake any obligation
to update publicly or to revise any of the included forward-looking
information, whether as a result of new information, future events or
otherwise. The forward-looking information contained in this news release is
expressly qualified by this cautionary statement.
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