Candax

completed

Candax Energy Inc. (“Candax” or the “Company”) is a small independent oil and gas company mainly focused on Tunisia, and listed on the Toronto Stock Exchange. Candax owns an interest in five oil and gas fields in Tunisia, consisting of the El-Bibane (73.8% net interest), Ezzaouia (31.4%), Robbana (80%), Belli (50%), and Al-Manzah (75%) fields, and one exploration license in Madagascar. Candax seeks to raise funds in order to finance its investment program in Tunisia which aims to enhance production from its mature asset base (currently approximately 320 barrels of oil per day (“bopd”) on average) by improving reservoir understanding, drilling new wells, and executing other recovery techniques (the “Project”).With the proposed development program, the Company is expecting to increase production to approximately 700 bopd by the end of 2012, and keep growing at a similar trend over the following years from its existing base, in addition to any acquisition the Company may make.