Addax Petroleum Announces Another Death in Nigeria

Addax Petroleum Corporation made the announcement that it is with regret that they report the death of a contractor following an attempted robbery by armed gunmen on a supply vessel servicing operations in OML123, offshore Nigeria. During the incident one Nigerian Navy person and one crew member 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. The Corporation's producing facilities were not targeted in this incident, which it believes is part of a regrettable pattern of violent crime affecting vessels in Nigerian waters. Addax Petroleum's property and operations were not affected by this incident.

Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said, "First and foremost, we are deeply saddened by this incident and our thoughts and prayers are with the victim's family and those of the injured personnel. Secondly, we believe that violent criminal attacks of this nature are perpetrated opportunistically by lawless criminal elements and, whilst they do not present a substantive threat to our operations, they nevertheless cause us great concern regarding the safety of both our and our contractors' personnel. We believe that the timing of this incident is unfortunate and coincidental, particularly as the events relating to yesterday's incident remain unclear. Our approach to security on all of our operations is to work closely with our host communities and local security forces, harnessing the strong goodwill and excellent relationships that we have patiently built over the years and value so much. We will continue to apply these principles and redouble our security efforts to deter these tragic and lawless acts."

Full investigations into this criminal incident are under way by local and federal security and government agencies and by Addax Petroleum.