Corporate Governance

Candax and its Board of Directors is committed to maintaining high standards of corporate governance, and regularly reviews and updates its corporate governance policies to ensure compliance with regulatory requirements. The Company has four sub-committees of the board: the Audit Committee, the Compensation Committee, the Governance Committee and the Disclosure Committee. The members of each sub-committee are shown below. Candax corporate policies include:

Board Sub-Committee Membership
Audit Committee		Benoit Debray Murray Grant - Chairman Christopher Irwin Thomas Rebilly
Compensation Committee		Benoit Debray Stephen Drinkwater Murray Grant - Chairman Thomas Rebilly
Governance Committee		Benoit Debray Stephen Drinkwater Chris Irwin - Chairman Thomas Rebilly
Disclosure Committee		Benoit Debray - Chairman Charlotte May Matthieu Milandri Richard Norris

Candax Health & Safety Record

Candax has an excellent health and safety record. From January 1 through October 31, 2007, 464,955 cumulative hours were worked by Ecumed management and administrative personnel, and on the El Bibane re-development project, both onshore and offshore. Lost time due to injuries was nil - an exceptional record!