PF Archive

Restructured Candax looks to fund Tunisian drilling

06 12 2011

Canadian-listed oil and gas independent Candax Energy has agreed terms on a C$9.79 million equity investment with the International Finance Corporation. The new equity will fund drilling at its existing fields in Tunisia - El-Bibane (73.8% interest), Ezzaouia (31.4%), Robbana (80%), Belli (50%), and Al-Manzah (75%). The first three fields are relatively mature, and spent part of 2011 out of production while they were...