ERHC Energy Inc (ERHE)

[RUBY1100]

Addax in take-over talks

By Upstream staff


West Africa and Middle-east focused Addax Petroleum confirmed today that it is in talks with third parties regarding a possible acquisition, following media speculation.


“Addax Petroleum acknowledges that it has held preliminary discussions with third parties expressing an interest in a potential transaction with the Corporation,” said Addax in a statement.

“While such preliminary discussions are ongoing, no assurance can be given that a transaction will be complete,” said the company, adding that it did not intend to make any further comment at this stage.



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Monday, 08 June, 2009, 13:43 GMT | last updated: Monday, 08 June, 2009, 13:44 GMT