Candax Energy Inc.
TSX : CAX

Candax Energy Inc.

September 15, 2005 13:54 ET

Candax Energy Inc.: Update on El Bibane Field, Offshore Tunisia

TORONTO, ONTARIO--(CCNMatthews - Sept. 15, 2005) -

Not for distribution to United States newswire services or for dissemination in the United States.

Candax Energy Inc. (TSX:CAX) announces that the mobilization to re-start the El Bibane well was delayed due to adverse weather in the Mediterranean Sea. The work-over barge is due to arrive later today in Tunisia and Candax anticipates the well kick-off operation to commence over the weekend and operations to be completed over the next few days.

Candax Energy Inc. is an international energy company with its head office in Toronto, Ontario, Canada and management offices in London, Dubai and Tunis. The Company produces approximately 1,800 boe/d from its subsidiary operations in Tunisia. Candax was formed through the combination of a highly experienced executive management team with successful Canadian founders and financiers, to develop an international upstream oil and gas project portfolio. Candax is initially focusing its growth activities on production and development projects in the Middle East and North Africa, where the group has strong relationships as well as extensive management experience.

Certain statements in this News Release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.


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