Candax Energy Inc (CAX)

[FISH1031]

To all investors and prospective investors of CANDAX ENERGY INC..

I've accepted an invitation from AGORACOM to lead a stock forum for
CANDAX ENERGY INC..

AGORACOM has created "Investor Controlled Forums" that put admin
control into our hands to eliminate bashing, profanity and spam – while
also giving us the ability to update company info, photos and videos in
real-time. This is what we've always wanted in a forum. As such, I'm
moving all my posting over there in the next 24 hours. If you want to
join me, just go to www.AGORACOM.com and look up the company by name or
stock symbol. Hope to see you there.



FISH1031

[EnergyGuy62]

Candax Energy share price has moved up about 22 % in the last week.

That BURNS...that REALLT BURNS since I am not a shareholder yet. :(((

[EnergyGuy62]

Same here. My serious money is on good well-managed little Canadin companies.

Speaking of which, epox, I would like to invite you to come to another board I am a moderator of.

Yes, It's a tsx.v resource company with great news coming out on Monday!

Please read my iBox and the messages posted...then please post any comments or questions.

Oh, the good news is that they will dramatically increase their tantalum resource calculations...possibly a double!

I also include a toll-free number...be sure to call them today!

Here's the limk:

http://www.investorshub.com/boards/board.asp?board_id=8134

[epox]

yeah and i have never lost money on the tsx if i have done my dd as compared to the swamp otcbb market

[EnergyGuy62]

Good deal epox! The really nice thing about Candax and its current situation is that it presents potential shareholders with a really good window of opportunity lasting 2-3 months.

This is especially important for me because I have 5000 shares of a little uranium stock which should have exciting news in at least one and possibly two areas in the next 30 days. Uranium stock goes up...sell the 5000 and buy Candax Energy.

I have a little diamond stock that might do well in the next 60 days. Same plan.

So I am really grateful for the time frame.

This company has already been up to a share price of $1.70 Cdn before all the delays hit...so if the company can find a good offshore drilling contractor, they have LOTS of upside potential in their share price!

[epox]

thanks for all the info, will look into it some more!

[EnergyGuy62]

Epox, the reason I typed it as "T.CAX" was that I wanted my quote machine at the top of the iBox to work correctly...which it does.

If I had typed the symbol any other way, the quote wouldn't work...or so a friend of mine has told me.

[EnergyGuy62]

Latest news release from Candax Energy...

Candax Provides Update on El Bibane Re-Development and
Appoints John Willis Chief Operating Officer

March 1, 2007 -- Toronto, Canada -- Candax Energy Inc. ("Candax") [TSX: CAX] announces the termination of the Offshore Drilling Contract for the re-development of the El Bibane field.

The decision follows a year of successive delays and missed deadlines despite repeated assurances to the contrary by the contractor and thus their failure to perform the operations contemplated by the contract.

After serving the contractor with several Notices of Default, and in light of its continued inability to provide the necessary rig certifications, Candax is of the opinion that the drilling equipment is not in compliance with essential health, safety and environmental standards. As a result, formal notice to terminate the contract has been served upon the contractor.

Candax has not incurred any expenditures with or made any payments to the contractor relating to the re-development drilling contract.

Candax is focused on obtaining an alternate drilling option. The water depth at El Bibane (6 to 8 metres) has always severely limited the number of jack-up rigs capable of undertaking the program. Candax is now negotiating with a number of contractors, but the market for suitable jack-up drill rigs remains tight, although significantly better than a year ago and the nearest term availability is unlikely to be before mid-year.

Total investment to date on the re-development project has been approximately US$14 million (on a net basis), which includes the project engineering for the onshore and offshore facilities upgrades and pipeline and platform installation contracts which are 50% completed and on budget. All outstanding work on these related contracts will be phased in and completed in time for immediate hook up to the wells at El Bibane as they are drilled and completed.

Candax maintains a strong balance sheet with a current cash position of approximately C$50 million.

Michael Wood, President & CEO commented,

"The El Bibane re-development program remains Candax's number one priority and we will be moving this project ahead as soon as appropriate offshore equipment can be sourced and brought on-site. Our treasury position remains strong and funding for the program remains in place. While this continued delay is disappointing, technical, safety and environmental considerations must take priority."

[EnergyGuy62]

Epox, Candax Energy may have a suitable jackup drilling rig to finish upgrading their offshore oil and gas field by the middle of 2007...which would be July 1st. Since I am a conservative guy, I want to make sure that I have a nice position in this company before then. :)

In my bext post, I will include the latest Candax news release touching on that subject.

[epox]

anyways, looks like a very interesting company, lets see what else you can provide after supper :)

[epox]

Don't you mean CAX.T?

[epox]

is there a reason why you state June 1st? something expected I assume?

[EnergyGuy62]

Candax Energy has $50 million in the bank and more than 500 BOPD of production.