potential jv contenders

Another potential JV partner to add to the list:

Addax Petroleum

New Ventures

The New Ventures Department in Addax Petroleum is constantly pursuing various upstream opportunities in order to increase the company’s asset base. Such opportunities include bid rounds, out-of round applications and acquisitions through farm-out and asset sales. Addax Petroleum’s new venture activities focus clearly on Africa and the Middle East with the following main areas:

West Africa

Addax Petroleum is a well-established player in Nigeria, Cameroon and Gabon, and it is only natural that these countries are core for expanding its activities. Furthermore, there is a clear desire to expand into other areas in Gulf of Guinea region such as Equatorial Guinea, Angola or Congo. The region offers prolific hydrocarbon basins with significant opportunities ranging from the onshore, through shallow offshore to deep water. Many geological plays are similar to those that the company successfully operates and produces in the West Africa. Addax Petroleum is particularly looking for opportunities where the use of latest available technologies in seismic and drilling can make a difference, e.g. in mature underdeveloped basins or deep-water frontier exploration.

Jean Claude Gandur, President, Chief Executive Officer and Director was also awarded a diplomatic passport by Senegal. In addition, he has received the decorations of Grand Officer of the Lion Order of Senegal

http://www.addaxpetroleum.com/operations/new_ventures

JB