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

    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.
    Sinopec International would also like to announce that it has extended
the expiration date of its Offer pursuant to a provision of the Acquisition
Agreement entered into in connection with the Offer that requires Mirror Lake
to extend the Offer for at least one 10 day period in order to permit Addax
Petroleum shareholders (such as holders of Addax Petroleum common shares under
the long term equity incentive plan of Addax Petroleum or on conversion of the
convertible bonds of Addax Petroleum) that have not tendered their Addax
Petroleum common shares to accept the Offer and tender their Addax Petroleum
common shares. The Offer, which was scheduled to expire at 7:00 PM Toronto
time, on Friday, August 14, 2009, has been extended until 11:59 PM Toronto
time, on Thursday, August 27, 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) is being made exclusively by means of, and subject to the
terms and conditions set out in the Offer documentation to be 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. The Offer documentation is or
will be available electronically without charge at

For further information:

For further information: Sinopec International Petroleum Exploration and
Production Corporation: Mr. Handong Rui, Email:

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