Candax Energy Inc. ("Candax" or the "Company") (TSX:CAX), a company focused on mature oil field development in Tunisia, today announced that its 100% owned subsidiary, Candax Madagascar Limited, has completed its previously announced sale of its 10% interest in Madagascar Block 1101 to Oyster Madagascar Limited.

About Candax

Candax is an international energy company with offices in Toronto and Tunis. The Candax group is engaged in exploration and the production of oil and gas in Tunisia and holds a royalty interest in an exploration permit in Madagascar.