Sinopec International Takes up Additional Addax Petroleum Corporation Shares

August 17th, 2009 CALGARY, Canada - Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that it has paid for the common shares of Addax Petroleum Corporation ("Addax Petroleum") that were validly deposited to and not withdrawn from the offer (the "Offer") dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International. As previously announced by Sinopec International, as of August 14, 2009, an aggregate of 153,734,120 Addax Petroleum common shares, representing approximately 92.67% of the Addax Petroleum common shares on a diluted basis, were tendered to the Offer.

August 15th, 2009 BEIJING - Sinopec International Petroleum Exploration and Production Corporation ("Sinopec International") is pleased to announce that 153,734,120 common shares of Addax Petroleum Corporation ("Addax Petroleum"), which represent approximately 92.67% of the Addax Petroleum common shares on a diluted basis, have been tendered to the offer (the "Offer") dated July 9, 2009 made by Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International. Since all of the conditions to the Offer have been satisfied, Mirror Lake has taken up all of the Addax Petroleum common shares tendered to the Offer as of this date.

July 21st, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC), today announced that it has received a letter (the "KRG Letter") from the Minister of Natural Resources of the Kurdistan Regional Government (the "KRG") and has confirmation from Sinopec International Petroleum Exploration and Production Corporation ("SIPC") that receipt of this letter satisfies the condition to the offer for Addax Petroleum dated July 9, 2009 (the "Offer") made by Mirror Lake Oil and Gas Company Limited, an indirect wholly-owned subsidiary of SIPC, that Addax Petroleum obtain the KRG Letter. The Offer is subject to a number of conditions including valid acceptances by holders of not less than 66 2/3 per cent of Addax Petroleum shares on a fully diluted basis and receipt of certain regulatory approvals, including the government of The People's Republic of China.

July 8th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") ( TSX: AXC and LSE: AXC), today announced that Mirror Lake Oil and Gas Company Limited ("Mirror Lake"), an indirect wholly-owned subsidiary of Sinopec International Petroleum Exploration and Production Corporation ("SIPC"), has today commenced its offer for Addax Petroleum (the "Offer") and mailed the Offer and take-over bid circular (the "Offer Documentation") as well as the Addax Petroleum directors' circular, containing the Addax Petroleum board's unanimous recommendation to accept the Offer, to Addax Petroleum shareholders. On June 24, 2009, SIPC and Addax Petroleum reached an agreement for Mirror Lake to make an offer to acquire all of Addax Petroleum's outstanding common shares for C$52.80 per common share in an all-cash transaction.

June 24th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announced today that the definitive agreement (the "Acquisition Agreement") with Sinopec International Petroleum Exploration and Production Corporation ("SIPC") pursuant to which SIPC has agreed, subject to the terms of the Acquisition Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid for C$52.80 per common share has been filed with the Canadian and U.K. securities regulatory authorities.

June 23rd, 2009 CALGARY - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announced today that it has entered into a definitive agreement (the "Support Agreement") with Sinopec International Petroleum Exploration and Production Corporation ("SIPC") pursuant to which SIPC has agreed, subject to the terms of the Support Agreement, to make an offer to acquire all of the outstanding common shares of Addax Petroleum by way of a negotiated take-over bid (the "Offer") for C$52.80 per common share in cash. The Offer represents a 47% premium to the closing market price on the TSX of the Addax Petroleum common shares on June 5, 2009, the day prior to Addax Petroleum's public announcement that it was in preliminary discussions with parties regarding a potential transaction.

May 27th, 2009 CALGARY - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announces that, further to the dividend declaration in the news release issued on May 13, 2008, the dividend record date has been changed to Monday, June 8, 2009. The dividend payment date of June 18, 2009 remains unchanged.

May 27th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the Credit Suisse London Oil & Gas Conference 2009 on Tuesday, June 2, 2009 at approximately 2:30 p.m.

May 5th, 2009 CALGARY, Canada - Addax Petroleum Corporation (TSX: AXC and LSE: AXC) ("Addax Petroleum" or the "Corporation") will announce its financial results for the quarter ended March 31, 2009 on Wednesday, May 13, 2009, and will discuss its financial results in a conference call on Wednesday, May 13, 2009 at 11:00 a.m. Eastern Time / 4:00 p.m.

March 19th, 2009 CALGARY, Canada - Addax Petroleum Corporation ("Addax Petroleum" or the "Corporation") (TSX: AXC and LSE: AXC) announces that Mr. Jean Claude Gandur, President and Chief Executive Officer, will be presenting at the UBS European Mid-Cap Oil Conference in London, U.K.

June 24th, 2009 China's Sinopec to acquire Addax Petroleum for $7BCALGARY, Alberta — Canadian oil and gas exploration company Addax Petroleum Corp says that it has agreed to be acquired by Chinese refiner Sinopec in a deal valued at $8.27 billion Canadian (US$7.2 billion). The wholly owned subsidiary of China Petrochemical Corp.

August 18th, 2009 BEIJING - China's largest oil refinery Sinopec has taken over the Geneva-based oil and gas producer Addax Petroleum Corp., company officials said Tuesday. Sinopec purchased the Swiss oil company for around $7.5 billion.

August 18th, 2009 Sinopec completes China's biggest foreign takeoverBEIJING — Sinopec Group said Tuesday it has completed its $7.5 billion acquisition of Addax Petroleum, obtaining new reserves in Africa and the Middle East in China's biggest foreign corporate takeover to date. State-owned Sinopec Group is the parent of Sinopec Corp., also known as China Petroleum & Chemical Corp., Asia's biggest refiner by volume.

June 9th, 2009 Reports: China's Sinopec mulling takeover of AddaxSHANGHAI — Chinese refiner Sinopec is in preliminary talks on acquiring Canadian oil and gas exploration company Addax Petroleum Corp., reports said Tuesday. The potential takeover bid is the latest effort by Chinese energy and resource companies to expand and diversify overseas assets as Beijing seeks to secure resources for the country's future growth.

June 24th, 2009 China's Sinopec to acquire Addax PetroleumCALGARY, Alberta — Chinese refiner Sinopec agreed to acquire oil and gas exploration company Addax Petroleum Corp. in a deal valued at $8.27 billion Canadian (US$7.2 billion), gaining access to reserves in West Africa and the Middle East.

June 24th, 2009 China's Sinopec makes $7.2B grab for AddaxTORONTO — China's Sinopec will acquire oil explorer Addax Petroleum for $7.2 billion, again flexing the country's economic clout in what would be the largest overseas takeover ever by a Chinese company. China has been aggressively pursuing major acquisitions or investments in commodity companies and the push-back from other countries has just as forceful.

June 25th, 2009 Sinopec seeks capacity, reserves with Addax bidSHANGHAI — Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. News that Addax's board had approved the offer by Sinopec, formally known as China Petroleum & Chemical Corp., helped push the Beijing-based company's shares up more than 2 percent Thursday, though they later fell back to close just 0.4 percent higher at 10.56 yuan.

August 12th, 2009 Petroleum Development prices shares at $12DENVER — Oil and gas company Petroleum Development Corp. said Wednesday that it has priced its offering of nearly 3.8 million shares of common stock at $12 per share.

April 28th, 2009 Chinese refiner Sinopec: 1Q net profit up 85 pctSHANGHAI — China Petroleum & Chemical Corp., Asia's largest refiner by capacity, said Tuesday that its net profit rose 85 percent in the first quarter, helped by rising prices for oil products and lower crude oil costs. The company, also known as Sinopec, reported a net profit of 11.2 billion yuan ($1.6 billion) in January-March, up from 6.06 billion yuan in the first quarter of 2008.

July 15th, 2009 Former Chinese oil executive convicted of graftBEIJING — The former chairman of China's second-biggest oil company, Sinopec, was convicted of taking $29 million in bribes and given a suspended death sentence Wednesday in Beijing's latest effort to stem chronic corruption. Chen Tonghai was convicted of illegally receiving 196 million yuan ($29 million) from 1999 to June 2007, when he resigned abruptly as chairman of Sinopec, government-run China Central Television and the Xinhua News Agency reported.