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Addax Commences First Nda Development Well Production

Source: www.gulfoilandgas.com 8/2/2006, Location: Africa

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Addax Petroleum Corporation announced that first production from the approved Nda Field development program started on July 30. The addition of this Nda Field production has raised Addax Petroleumís gross daily oil production to 102,200 bbls/day, the first time that Addax Petroleumís production has exceeded the 100,000 bbls/day milestone.

The Nda Field lies in OPL90, was discovered by Addax Petroleum in July 2004 and is adjacent to the Okwori field. The field is being developed as a subsea tie-back to the Okwori FPSO on OPL90 following an extended well test. The Corporation received approval for the Nda Field Development Plan in February of this year.

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