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The group's determines washington wizards share price wizards uncovers performance over the last year hasheld up better than more indebted rivals such as BarrattDevelopments (BDEV.L) and Taylor Wimpey (TW.L). Citigroup on Friday reiterated its 'hold' recommendation and430 pence target on Bovis, saying it is "relatively wellpositioned to weather the storm". Shares in building materials company Marshalls Plc MSH.Lfell 3 percent after it said revenue slipped 6 percent in 2008as weak sales to the domestic market offset a small rise inpublic sector and commercial sales. [ID:nBNG255660](Editing by Greg Mahlich and Rupert Winchester). Successful appraisal and development wells in Etame Marin license areaCALGARY, Jan. 9 /PRNewswire-FirstCall/ - Addax Petroleum Corporation ("AddaxPetroleum" or the "Corporation") (TSX:AXC and LSE:AXC) today announces thesuccessful appraisal and development of the Ebouri field in the Etame Marinlicense area offshore Gabon. Addax Petroleum has a 31.36 per cent non-operatedinterest in the Etame Marin license area.Commenting, Jean Claude Gandur, President and Chief Executive Officer of AddaxPetroleum said: "We are very pleased with the successful results from therecently drilled Ebouri and North Ebouri wells as this campaign has continuedto demonstrate the high quality of the Etame Marin acreage.

We are equallyencouraged to continue our Gabon exploration program and we plan additionaldrilling of the Gamba sandstone trend in the Etame Marin field and in theadjacent Gryphon Marin license area."The Ebouri field was discovered in 2003 and is approximately 18 kilometresnorthwest of the Corporation's producing Etame field in the Etame Marinlicense area washington post wizards . Two pilot holes were drilled with the Adriatic VI jack-up rig inthe main area of the Ebouri field, one to the south of the original Ebouridiscovery and a second to the northwest, approximately 100 metres from thelease line of the Gryphon Marin license area, in which the Corporation holds a68.75 per cent operated interest basketball . Both pilot holes were successful indelineating the Gamba sandstone formation above the oil water contact, therebyexpanding the areal extent of the Ebouri field wizards schedule . A horizontal development wellon the same orientation as the second pilot hole is currently being completed,with initial production expected in early 2009 basketball ticket washington wizard .

The Adriatic VI will thendrill another pilot hole in the southern portion of the Ebouri field beforecontinuing the Corporation's exploration program in the Gryphon Marin licensearea.The North Ebouri appraisal well was drilled with the Pride Cabinda jack-up rigapproximately 2.5 kilometres to the northeast of the Ebouri platform obama washington wizards . The wellencountered and successfully appraised a gross oil column of 21 feet in theGamba formation wizards basketball Washington Wizards tickets . A deviated sidetrack well is currently being drilled tooptimize the location for a potential second horizontal development well wizard basketball ticket . ThePride Cabinda will then continue the Corporation's exploration program in theEtame Marin license area with the planned drilling of two exploration wells,targeting two newly mapped structures in North Etame and Southeast Etamerespectively.About Addax PetroleumAddax Petroleum is an international oil and gas exploration and productioncompany with a strategic focus on Africa and the Middle East washingtonwizards Washington Wizards - washingtonwizards . Addax Petroleumis one of the largest independent oil producers in West Africa and hasincreased its crude oil production from an average of 8,800 bbl/d for 1998 toan average of approximately 134,000 bbl/d for the first nine months of 2008.Further information about Addax Petroleum is available at, or the Corporation's website, Notice - Forward-Looking StatementsCertain statements in this press release constitute forward-looking statementsunder applicable securities legislation. Such statements are generallyidentifiable by the terminology used, such as "anticipate", "believe","intend", "expect", "plan", "estimate", "budget", "outlook", "may", "will","should", "could", "would" or other similar wording. Forward-lookinginformation in this news release includes, but is not limited to, drillingplans, reference to business strategy and goals, results of explorationactivities and dates by which certain areas may be developed or may comeon-stream.

By its very nature, such forward-looking information requires AddaxPetroleum to make assumptions that may not materialize or that may not beaccurate . Forward-looking information is subject to known and unknown risksand uncertainties and other factors, which may cause actual results, levels ofactivity and achievements to differ materially from those expressed or impliedby such information etan thomas . Such factors and assumptions include, but are not limitedto: the results of exploration and development drilling and relatedactivities; prices of oil and natural gas; general economic, market andbusiness conditions; industry capacity; competitive action by other companies;fluctuations in oil prices; refining and marketing margins; the ability toproduce and transport crude oil and natural gas to markets; the effects ofweather and climate conditions; fluctuation in interest rates and foreigncurrency exchange rates; the ability of suppliers to meet commitments; actionsby governmental authorities, including increases in taxes; decisions orapprovals of administrative tribunals; changes in environmental and otherregulations; risks attendant with oil and gas operations, both domestic andinternational; international political events; expected rates of return; andother factors, many of which are beyond the control of Addax Petroleum wizards michael wizards.com . Morespecifically, production may be affected by such factors as explorationsuccess, start-up timing and success, facility reliability, reservoirperformance and natural decline rates, water handling, and drilling progress.Capital expenditures may be affected by cost pressures associated with newcapital projects, including labour and material supply, project management,drilling rig rates and availability, and seismic costs Washington Wizards . These factors arediscussed in greater detail in filings made by Addax Petroleum with theCanadian provincial securities commissions Wizards .Readers are cautioned that the foregoing list of important factors affectingforward-looking information is not exhaustive.

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