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Addax ups Gabon stake 50%


Published Sep 3, 2008
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addax Nigeria
courtesy Addax Petroleum Corp.

Calgary-based Africa producer Addax Petroleum Corp. has bought a stake in the vast Gryphon Marin license offshore Gabon in West Africa.

The company has gained a 50-percent stake in the license and an operatorship, although the government of Gabon has yet to okay the deal.

The lease lies west of the company’s offshore Iris Marin and Ibekelia license areas and just north of its offshore Etame Marin license.

The new holding ups Addax’s acreage portfolio by fifty percent and the company said it intends to link activity across adjoining areas.

Tags: Addax Petroleum Corporation




   

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