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Re: None

Friday, 05/02/2008 7:20:16 PM

Friday, May 02, 2008 7:20:16 PM

Post# of 361445
Addax Web Site Updated [JDZ]

http://www.addaxpetroleum.com/operations/jdz/license_areas_overview

and

http://www.addaxpetroleum.com/operations/jdz/license_areas_overview/offshore_license_areas#2

*NOTE
July 2007: Addax Petroleum commences arbitration proceedings against ERHC in respect an additional 9% assigned to the ERHC/Addax Petroleum under the Block 4 PSC, whereby Addax Petroleum is claiming entitlement to an additional 7.2% participating interest, subject to carried costs associated with the balance, being 1.8%. These proceedings are ongoing. If successful, Addax Petroleum would hold a 45.5% participating interest in Block 4