Sinopec Acquires 100% of Addax Petroleum's Shares

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.
 

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