Addax Petroleum Announces Successful Oil Appraisal Offshore Nigeria
Addax Petroleum Announces Successful Oil Appraisal Offshore Nigeria CALGARY, Canada, March 11/PRNewswire-FirstCall/ -- - Successful Appraisal at OML123 Expands Kita Marine Area Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX:AXC and LSE:AXC) announced today the successful appraisal of and addition to the Kita Marine discovery. The recently completed KTM-6 well encountered an aggregate gross oil column of 173 feet over four zones. The Kita Marine discoveries lie in the northern part of the prolific OML123 block offshore Nigeria in an area which has not previously had production. Commenting, Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "I am very pleased to report an encouraging start to 2008 with these promising appraisal well results from OML123. The expansion the Kita Marine area opens up the very real possibility to initiate development and production for the first time in the northern part of OM...