CALGARY, Canada, November 5 /PRNewswire/ -- Addax Petroleum Corporation (TSX: AXC and LSE: AXC) ("Addax Petroleum" or the "Corporation") will announce its financial results for the quarter ended September 30, 2007 and its 2008 capital budget on Monday, November 12, 2007, and will discuss its financial results in a conference call and webcast on Monday, November 12, 2007 at 11:00 a.m. Eastern Time/4:00 p.m. London, U.K. time. Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, and Mr. Michael Ebsary, Chief Financial Officer, will discuss the Corporation's most recent financial and operating results.

Conference call/webcast details: Date: Monday, November 12, 2007 Time: 11:00 a.m. Eastern Time/4:00 p.m. London, U.K. time To listen to the conference call, please call one of the following: Toronto: +1-416-644-3418 Toll-free (Canada and the U.S): +1-800-732-0232 Toll-free (U.K.): +44-800-2288-3501 Toll-free (Switzerland): +44-800-2288-3501

A replay of the call will be available at +1-416-640-1917 or +1-877- 289-8525, passcode 21251977 followed by the number sign until Monday, November 26, 2007.

A webcast will be available at the following URL: http://www.axisto.com/webcasting/investis/addax-petroleum/q3-2007-results/

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 8,800 bbl/d for 1998 to an average of approximately 123,000 bbl/d for the second quarter of 2007. Further information about Addax Petroleum is available at http://www.addaxpetroleum.com or at http://www.sedar.com.

CONFERENCE CALL ADVISORY: FORWARD-LOOKING STATEMENTS

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The conference call may contain forward-looking statements. When used in the call, words such as "anticipate", "expect", "project", and similar expressions are intended to identify such forward-looking statements. Although the Corporation believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, economic conditions and commodity prices. While Addax Petroleum makes these forward looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected.

READER ADVISORY: FORWARD-LOOKING STATEMENTS

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This press release includes certain forward-looking statements. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to, risks associated with the oil and gas industry (e.g., operational risks in development; exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; uncertainties of reserve estimates; the uncertainty of estimates and projections in relation to production; costs and expenses and health, safety and environmental risks), the risks of commodity price and foreign exchange rate fluctuations, the uncertainty associated with negotiating with foreign governments and risks associated with international activity. Due to the risks, uncertainties and assumptions inherent in forward-looking statements prospective investors in Addax Petroleum's securities should not place undue reliance on forward-looking statements.

Mr. Patrick Spollen, Investor Relations, Tel.: +41(0)-22-702-95-47, patrick.spollen@addaxpetroleum.com; Mr. Craig Kelly, Investor Relations, Tel: +41(0)22-702-95-68, craig.kelly@addaxpetroleum.com; Ms. Marie-Gabrielle Cajoly, Press Relations, Tel: +41(0)-22-702-94-44, marie-gabrielle.cajoly@addaxpetroleum.com; Mr. Nick Cowling, Press Relations, Tel.: +1-416-934-80-11, Nick.cowling@cossette.com; Mr. James Henderson, Press Relations Tel.: +44(0)20-7743-6673, james.henderson@pelhampr.com; Mr. Alisdair Haythornthwaite, Press Relations, Tel: +44(0)20-7743-6676, alisdair.haythornthwaite@pelhampr.com