Candax Energy Inc. (Candax) is a Toronto-based oil and natural gas company engaged in the exploration for, and the acquisition, development and production of, natural gas and crude oil, with emphasis on the Middle East and North Africa. Candax targets mainly oil and natural gas, but also has natural gas liquids in its portfolio. It also owns a 50% interest in Societe d'Electricite d'El Bibane (SEEB), a Tunisian power generation company. All of the operating assets of the Company are located in Tunisia and Madagascar. On June 27, 2007, the Company received the Presidential Decree for Block 1101, onshore Madagascar. Block 1101 is a exploration permit located onshore, North West Madagascar and covers 14,900 square kilometers. Candax is the operator with a 60% equity interest. In October 2007, exploration activity on Block 1101 commenced.(Source: ARS)
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