The board of Addax, which is also listed in Toronto and based in Switzerland, has recommended a C$52.80 per share offer from Sinopec, the Chinese state oil and gas company. For full story, click here
China Petrochemical Corp., the country’s second-biggest oil company, agreed to purchase Swiss explorer Addax Petroleum for $7.3 billion in cash to tap oil reserves in Iraq’s Kurdish region and Africa. For full story, click here
Addax Petroleum Corporation informed that about the appraisal of the Eocene Pila Spi formation in the Taq Taq field with the TT-11 appraisal and development well. Jean Claude Gandur, President & CEO of Addax Petroleum said: We are encouraged with the successful results from our first appraisal of the Tertiary aged Pila Spi formation in the Taq [...]
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