Toronto, Ontario, Canada - Candax Energy Inc. (TSX : CAX) announces that on September 4th it mobilized a jack-up barge from southern Italy to Tunisia, where a Schlumberger coiled tubing unit will be loaded and the barge moved on location for the re-start operation on the El Bibane field, offshore Tunisia.
The work-over operation is scheduled to be completed within 7 days and thus production is expected to re-start next week.
Candax Energy Inc. is an international energy company with its head office in Toronto, Ontario, Canada and management offices in London, Dubai and Tunis. The Company produces approximately 1,800 boe/d from its subsidiary operations in Tunisia. Candax was formed through the combination of a highly experienced executive management team with successful Canadian founders and financiers, to develop an international upstream oil and gas project portfolio. Candax is initially focusing its growth activities on production and development projects in the Middle East and North Africa, where the group has strong relationships as well as extensive management experience.
For further information, please contact:
John Clarke, Executive Vice President, Corporate
Tel: (416)361-2824
Fax: (416)364-5400
Email : jclarke@candax.com
Not for distribution to United States newswire services or for dissemination in the United States.
Certain statements in this News Release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. |