ERHC Energy Inc (ERHE)

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Addax Petroleum announces admission to the London Stock Exchange
Tuesday May 22, 7:44 am ET


/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, AUSTRALIA OR JAPAN/
This press release constitutes an advertisement within the meaning of the Prospectus Rules of the UK Financial Services Authority, is not a prospectus and has been prepared solely in connection with Admission (defined below). Investors should not acquire common shares of the Corporation (defined below) except on the basis of the information contained in the prospectus published by the Corporation in connection with Admission. Copies of the prospectus can be obtained from the Corporation at its registered office at 3400 First Canadian Centre, 350 - 7th Avenue S.W., Calgary, Alberta, Canada T2P 3N9.
Admission to the Official List of the Financial Services Authority and to trading on the Main Market of the London Stock Exchange as a secondary listing
CALGARY, May 22 /CNW/ - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC - News), today announces that it has published and lodged a copy of its prospectus ("Prospectus") prepared in connection with the admission of its common shares to the Official List of the UK Financial Services Authority and to trading on the main market of the London Stock Exchange ("LSE") ("Admission") with the UK Financial Services Authority.
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It is expected that Admission will become effective and that dealings on the LSE's main market under the ticker symbol "AXC" will commence at 8:00 am on May 24, 2007, subject to the receipt of final approval.

The primary listing for common shares of Addax Petroleum will continue to be the Toronto Stock Exchange where they currently trade. The Corporation is not issuing any new common shares in connection with Admission and the Corporation will continue to have 155,077,530 common shares outstanding upon Admission.

The Prospectus will be available for inspection shortly at the UK Financial Services Authority's document viewing facility situated at: Financial Services Authority, 25 The North Colonnade, Canary Wharf, London, E14 5HS (Tel: [phone]). Copies of the Prospectus will also be available shortly via the Corporation's website at www.addaxpetroleum.com.

Citigroup is the financial advisor, Freshfields Bruckhaus Deringer is the legal advisor and Pelham Public Relations is the public relations advisor to the Corporation in connection with Admission.

About Addax Petroleum

Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on West Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8,800 bbl/d for 1998 to an average of approximately 116,000 bbl/d for the first quarter of 2007. Further information about Addax Petroleum is available at www.addaxpetroleum.com or at www.sedar.com.

Important Information

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, exchange or transfer any securities of Addax Petroleum. The value of Addax Petroleum's common shares can go down as well as up and past performance cannot be relied on as a guide to future performance.

Legal Notice - Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements under applicable securities legislation. Such statements are generally identifiable by the terminology used, such as "anticipate", "believe", "intend", "expect", "plan", "estimate", "budget", "outlook" or other similar wording. Forward-looking information includes, but is not limited to, reference to business strategy and goals, future capital and other expenditures, reserves and resources estimates, drilling plans, construction and repair activities, the submission of development plans, seismic activity, production levels and the sources of growth thereof, project development schedules and results, results of exploration activities and dates by which certain areas may be developed or may come on-stream, royalties payable, financing and capital activities, contingent liabilities, and environmental matters. By its very nature, such forward-looking information requires Addax Petroleum to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. Such factors include, but are not limited to: imprecision of reserves and resources estimates, ultimate recovery of reserves, prices of oil and natural gas, general economic, market and business conditions; industry capacity; competitive action by other companies; fluctuations in oil prices; refining and marketing margins; the ability to produce and transport crude oil and natural gas to markets; the effects of weather and climate conditions; the results of exploration and development drilling and related activities; fluctuation in interest rates and foreign currency exchange rates; the ability of suppliers to meet commitments; actions by governmental authorities, including increases in taxes; decisions or approvals of administrative tribunals; changes in environmental and other regulations; risks attendant with oil and gas operations, both domestic and international; international political events; expected rates of return; and other factors, many of which are beyond the control of Addax Petroleum. More specifically, production may be affected by such factors as exploration success, start-up timing and success, facility reliability, reservoir performance and natural decline rates, water handling, and drilling progress. Capital expenditures may be affected by cost pressures associated with new capital projects, including labour and material supply, project management, drilling rig rates and availability, and seismic costs. These factors are discussed in greater detail in filings made by Addax Petroleum with the Canadian provincial securities commissions.

Readers are cautioned that the foregoing list of important factors affecting forward-looking information is not exhaustive. Furthermore, the forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Addax Petroleum does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

For further information

Mr. Patrick Spollen, Investor Relations, Tel.: [phone], [e-mail]
Mr. Craig Kelly, Investor Relations, Tel.: [phone], [e-mail]
Ms. Marie-Gabrielle Cajoly, Press Relations, Tel.: [phone], [e-mail]
Mr. Mac Penney, Press Relations, Tel.: [phone], [e-mail]
Mr. James Henderson, Press Relations, Tel.: [phone], [e-mail]
Mr. Alisdair Haythornthwaite, Press Relations, Tel.: [phone], [e-mail]