CALGARY, Canada, March 17 /PRNewswire/ -- Addax Petroleum Corporation (TSX: AXC and LSE: AXC) (Addax Petroleum or the Corporation) will host a management presentation to financial analysts and investors on Monday, March 23, 2009 in London, U.K. and on Tuesday, March 24, 2009 in Toronto, Canada. The Corporation's senior management team, including Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, Mr. Michael Ebsary, Chief Financial Officer, Mr. Jeff Schrull, General Manager Exploration, and Mr. Henry Legarre, Technical Manager Middle East will discuss the Corporation's most recent operating results and expectations regarding future operations.

Conference call / webcast details: London Toronto Date: Monday, March 23, 2009 Date: Tuesday, March 24, 2009 Time: 10:30 a.m. London, U.K. time Time: 10:00 a.m. Eastern Time To listen to the conference calls, please call one of the following: Toronto and International: +1-416-644-3414 Toll-free (Canada and the U.S): +1-800-733-7571 Toll-free (U.K.): 00-800-2288-3501 Toll-free (Switzerland): 00-800-2288-3501

A replay of the London conference call will be available at +1-416-640-1917 or +1-877-289-8525, passcode 21300638 followed by the number sign until Thursday, April 23, 2009. A live webcast of the London presentation will be available via the following link:

http://w.on24.com/r.htm?e=137992s=1k=3DAFF41278BAFFC2D19F4B5A419791E4

A replay of the Toronto conference call will be available at +1-416-640-1917 or 877-289-8525, passcode 21296237 followed by the number sign until Saturday April 25, 2009. A live webcast of the Toronto presentation will be available via the following link:

http://w.on24.com/r.htm?e=133555s=1k=7C5D55890BAC734E90A78C395BCFC0FA

The Capital Markets Day presentation materials will be available on the Corporation's website at http://www.addaxpetroleum.com prior to the event. Interested attendees are encouraged to contact any of the individuals listed at the end of this announcement in order to register in advance.

About Addax Petroleum:

Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on West Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8.8 Mbbl/d for 1998 to an average of 136.5 Mbbl/d for 2008. Further information about Addax Petroleum is available at http://www.addaxpetroleum.com or at http://www.sedar.com.

For further information: Mr. Craig Kelly, Investor Relations, Tel.: +41(0)22-702-95-68, craig.kelly@addaxpetroleum.com; Mr. Chad O'Hare, Investor Relations, Tel.: +41(0)-22-702-94-10, chad.o'hare@addaxpetroleum.com; Ms. Marie-Gabrielle Cajoly, Press Relations, Tel.: +41(0)22-702-94-44, marie-gabrielle.cajoly@addaxpetroleum.comp; Mr. Nick Cowling, Press Relations, Tel.: +1-416-934-8011, nick.cowling@cossette.com; Mr. Mark Antelme, Press Relations, Tel.: +44(0)20-3178-6242, mark.antelme@pelhampr.com (AXC. AXC)

For further information: Mr. Craig Kelly, Investor Relations, Tel.: +41(0)22-702-95-68, craig.kelly@addaxpetroleum.com; Mr. Chad O'Hare, Investor Relations, Tel.: +41(0)22-702-94-10, chad.o'hare@addaxpetroleum.com; Ms. Marie-Gabrielle Cajoly, Press Relations, Tel.: +41(0)22-702-94-44, marie-gabrielle.cajoly@addaxpetroleum.comp; Mr. Nick Cowling, Press Relations, Tel.: +1-416-934-8011, nick.cowling@cossette.com; Mr. Mark Antelme, Press Relations, Tel.: +44(0)20-3178-6242, mark.antelme@pelhampr.com