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Candax Announces Appointment of New CFO

Toronto, Ontario, Canada - Candax Energy Inc. ("Candax") (TSX: CAX), announces the appointment of Hywel John to the position of Chief Financial Officer. Hywel John is a Chartered Accountant having qualified with Arthur Andersen in London, England. Prior to joining Candax, his most recent position was as Company Secretary and Legal and Commercial Director for Burren Energy PLC, a London-based listed company recently acquired by ENI in February 2008. Prior to working for Burren Energy, Mr. John worked for seven years in public accounting in London and Houston during which time he focused on clients in the energy sector. He has subsequently spent 16 years in senior positions in the oil industry and his responsibilities have included management of joint venture investments and legal affairs, treasury, tax planning, M&A, corporate finance and financial and management reporting. His international experience includes operations in central Asia, India, Russia, Middle East and North Africa, West Africa, USA and the UK North Sea. Mr. John will be based in Europe.  

Christopher Hopkins, Candax's former Chief Financial Officer is leaving the Company to pursue other business interests and has resigned his position as Chief Financial Officer and Director.

Mike Wood, CEO, commented:

"Candax is pleased to have Hywel John join the Candax team. His international financial management experience in the independent oil and gas sector will significantly enhance Candax as the corporation moves forward. Candax also wishes to thank Chris Hopkins for his contribution to Candax both as a member of the executive management team and to the Board of Directors in his roles of CFO and Director. We wish Chris all success on his future endeavours."

Candax Energy Inc. is an international energy company with its head office in Toronto, Ontario, Canada and management offices in London, Dubai and Tunis. The Company holds a number of concessions in Tunisia through its subsidiary companies and is involved in the exploration and production of oil, gas and power generation in the country. Candax was formed through the combination of a highly experienced executive management team with successful Canadian founders and financiers, to develop an international upstream oil and gas project portfolio. Candax is initially focusing its growth activities on production and development projects in the Middle East and North Africa, where the group has strong relationships as well as extensive management experience.

Not for distribution to United States newswire services or for dissemination in the United States.
This press release includes "forward looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of Management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward looking statements.  Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "budget", "plan", "continue", "estimate", "expect", "forecast", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar words suggesting future outcomes or statements regarding an outlook.  Such risks and uncertainties include, but are not limited to, risks associated with the oil and gas industry (including operational risks in exploration development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of Candax Energy Inc. to obtain all permits, consents or authorizations required for its operations and activities; and health safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the ability of Candax Energy Inc. to fund the capital and operating expenses necessary to achieve the business objectives of Candax Energy Inc., the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by Candax Energy Inc.  Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of Candax Energy Inc. should not place undue reliance on these forward-looking statements.  Statements in relation to "reserves" are deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described can be profitably produced in the future. 


 

 

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Tracy Weslosky or Fred Cowans
Managing Partners
pro-edge consultants inc
Tel: 416.581.0177
Fax: 416.581.0144
Toll free in North America 1866.544.9622

 

 

 

 

pro-edge consultants | 80 Richmond Street West, Suite 600 | Toronto | On | M5H 2A4 | Canada

Candax Energy Inc.

DEVELOPMENT STAGE
CODE : CAX.TO
ISIN : CA13740F1045
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Annual reports of Candax Energy Inc.
2009 Annual Report
Annual Report 2007
Financings of Candax Energy Inc.
2/17/2012Receives Shareholder Approval of Private Placement at Specia...
5/27/2010Candax Receives $6=2E4 Million from Geofinance Exercise of W...
4/1/2010Candax Closes Private Placement With Geofinance NV and Final...
3/19/2010Candax Provides Update to Timetable for Private Placement an...
3/11/2010Candax Receives Shareholder Approval in Respect of Private P...
12/5/2007Increases Bank of Scotland Credit Facility
Nominations of Candax Energy Inc.
6/26/2013Announces Election of Directors
3/29/2012Announces Appointment of Jean Pouzet to Board of Directors
12/21/2011Announces Management Appointments and IFC Investment Update
8/31/2011Appoints John Younger President and Chief Executive Officer
7/8/2011Candax Announces Appointment of John Younger to Board of Dir...
6/9/2011Candax Announces Appointment of Chief Operating Officer
4/3/2008 Announces Appointment of New CFO
1/14/2008(audio) Executive Vice President - Corporate, John A. Clarke...
9/18/2007an update with John Clarke, executive Vice President.
Financials of Candax Energy Inc.
8/9/2013Announces Second Quarter Financial & Operating Results
5/13/2013Announces First Quarter Financial & Operating Results
3/28/2013Announces Year End Financial & Operating Results
11/13/2012Reports Third Quarter 2012 Results, Change of Director
8/10/2012Reports Second Quarter 2012 Results
5/11/2012Reports First Quarter 2012 Results
11/15/2011Candax Reports Third Quarter 2011 Results
8/16/2011Candax Reports Second Quarter 2011 Results
6/15/2011Candax Reports First Quarter 2011 Results
4/1/2011Candax Reports 2010 Results
11/14/2008Reports Strong Third Quarter and Nine Months Results
8/14/2008Reports Second Quarter Profit
5/15/2008Reports 2008 Q1 Financial Results
3/31/2008Reports 2007 Financial Results
Project news of Candax Energy Inc.
1/2/2012(Ezzaouia)Purchases Additional Interests in El Bibane and Ezzaouia Fie...
8/15/2011Candax Resumes Production From the Robbana Field
6/13/2011(Ezzaouia)Candax Announces Production Update =?ISO-8859-1?Q?on=20Ezzao...
6/14/2010(Ezzaouia)Commences Work-over Program at Ezzaouia
Corporate news of Candax Energy Inc.
10/22/2013Announces Changes in Management
9/24/2013(Ezzaouia)Progress Report on Ezzaouia Field Work Overs
9/6/2013Finalizes Agreement to Sell Working Interest in Madagascar B...
9/6/2013Finalizes Agreement to Sell Working Interest in Madagascar B...
1/28/2013Reports Update on Deep Triassic Prospect, Debt Rescheduling
12/28/2012(Ezzaouia)Reports Update on Ezzaouia Wells
12/28/2012(Ezzaouia)Reports Update on Ezzaouia Wells
11/23/2012(Ezzaouia)Reports on Ezzaouia Remedial Work
10/22/2012Reports on El Bibane Gas Cycling Progress
10/22/2012Reports on El Bibane Gas Cycling Progress
6/13/2012Reports on Robbana Work-Over
5/16/2012Reports on Acquisition of Maghreb
4/11/2012Announces Progress on Robbana Work-Over
2/24/2012Closes $12 Million Private Placement
1/16/2012Signs Investment Agreements for $11 Million Private Placemen...
11/18/2011Candax Announces Agreement in Principle for Proposed IFC Inv...
11/7/2011Candax Completes Oil Equity Lifting
11/2/2011Candax Purchases Participation Rights in Tunisian Licences
9/26/2011Candax Announces Resignations of Richard Norris and Matthieu...
8/8/2011Candax Provides Update on El Bibane Concession
7/25/2011Candax Provides Update on Block 1101 Madagascar
4/13/2011Candax Announces Positive Listing Review
3/29/2011Candax Robbana Work-Over Exceeds Expectations
12/20/2010Candax Comments on Listing Review Process
12/17/2010Candax Comments on Listing Review Process
11/25/2010Candax Announces Resignation of Actis Nominee
10/19/2010Candax Provides Operations Update
9/13/2010Provides Update on El Bibane Operations
8/19/2010Provides Update on El Bibane Operations
5/11/2010Enters Into Farm-Out Agreement on Chaal Permit
4/22/2010Candax Provides Operations Update
3/3/2010Candax Receives Credit Approval from Bank of Scotland
3/30/2009 Reports 2008 Results
3/3/2009Candax Provides Operational Update
11/14/2008Provides Operations Update and Guidance for 2009
9/5/2008Receives CanaccordAdams Research Update
9/4/2008Commences Seismic Campaign in Madagascar
8/28/2008Provides Production Update
8/22/2008Spuds Ezzaouia 18 Well Onshore Tunisia
8/1/2008Provides an Update on the El Bibane Development and Ezzaouia...
8/1/2008Receives Tristone Capital Research Update
5/30/2008(TSX:CAX) Commences Ezzaouia Drilling Onshore Tunisia
4/30/2008Updates El Bibane Development and Production Outlook
4/29/2008Present at COPIC
4/28/2008Announces 2008 Drilling Program
4/9/2008Reports Year End 2007 Reserves
3/25/2008 Announces El Bibane Production Start Up
2/4/2008Provides El Bibane Project and Corporate Update
12/21/2007 Provides Update for El Bibane Project
11/6/2007 Live Webcast Today: 10:20 AM EST
10/17/2007 Provides Update on Exploration Activity in Madagascar
10/9/2007Provides Operational Update on Tunisian Drilling
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