April 03, 2014 09:12 ET
TORONTO, ONTARIO--(Marketwired - April 3, 2014) - Candax Energy Inc. ("Candax" or the "Company") (TSX:CAX), a company focused on mature oil field development in Tunisia, today announced that its multi-well workover campaign on its Ezzaouia field is complete. In addition, the Company announced that the installation of a higher capacity compressor on its El Bibane field has been fully commissioned.
Highlights of the Ezzaouia workover campaign are as follows:
Highlights of the acquisition of the second compressor are as follows:
"The completion of the workover campaign on Ezzaouia and the acquisition of the higher capacity compressor mark important milestones in the development of the producing assets of Candax," commented Jamil Hamza, Deputy General Manager of Ecumed, 100% subsidiary of Candax. "We expect that the cash flow generation from these activities will help fund further development and drilling programs for the company going forward."
Candax is an international energy company with offices in Toronto and Tunis. The Candax group is engaged in exploration and the production of oil and gas in Tunisia and holds a royalty interest in an exploration permit in Madagascar.
Candax Energy Inc.John YoungerPresident647 926 email@example.com
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