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Candax Energy Starts Seismic Program in Madagascar

09-07-2008

Candax Energy Inc. announces that 2D seismic operations have commenced on Block 1101, Madagascar. The seismic program will be undertaken by Upstream Petroleum Services Limited ("UPSL") of Dubai.

UPSL specializes in low environmental impact seismic acquisition and has proven operational experience in East Africa. The program involves the acquisition of up to 228 line kilometres of 2D seismic across the prospective Ankaramy and Ambilobe areas of the Block. The acquisition phase is expected to take approximately two months to complete with the processing and interpretation being undertaken thereafter. The 2008 geological fieldwork program has recently been successfully concluded and together with the results of the 2D seismic will provide Candax and its partners with the required information to drill the first exploration well in 2009.

Michael Wood, CEO, commented:
"Our field work to date has demonstrated an active petroleum system and up to 9,000 meters of sedimentary column. This is another important milestone towards the fulfillment of the exploration program in what we believe to be a highly prospective block and is the first seismic survey on the block for more than forty years."