Candax Energy Inc. Leverages
IDEAS Venture Management
System for Financial
Management of Tunisian
Operated Properties
LIVINGSTON, NJ – July 15,
2005 IDEAS
International, Inc, a
leading supplier of
financial and logistics
systems to international oil
& gas operations, announced
today that Toronto, Ontario,
Canada based Candax Energy,
Inc. has licensed the IDEAS
international oil and gas
venture management solution
for it’s operations in
Tunisia.
Candax purchased from
Centurion Energy
International Inc. producing
operations in Tunisia and a
50% interest in a Tunisian
power plant effective
January 1st,
2005. In addition, Candax
has entered into a new
prospecting permit with the
Government of Tunisia and
L'Entreprise Tunisienne
d'Activities Petrolieres (ETAP).
The Chaal license is located
onshore, covers an area of
1200 km2 and includes a
number of prospects as well
as an existing
gas/condensate discovery.
“IDEAS proved to be an
excellent solution on which
to base our accounting
operations as we grow our
business worldwide” said
Chris Hopkins, CFO of
Candax. “Its oil and gas
specific nature, along with
its proven global compliance
capabilities, greatly ease
our operating burden.”
“We’re delighted with
Candax’s decision to expand
its use of IDEAS”, said Liam
McCarthy, Vice President of
IDEAS International. “We
appreciate their confidence
in us and look forward to
assisting them as they grow
their business.”
About Candax Energy, Inc.
Candax Energy Inc. is an
independent privately-owned,
international energy company
that has filed a preliminary
prospectus in Canada. The
Company was formed through
the combination of a highly
experienced executive
management team with
successful Canadian founders
and financiers, to develop
an international upstream
oil and gas project
portfolio. Candax is
initially focusing its
growth activities on
production and development
projects in the Middle East
and North Africa, where the
group has strong political
and partner relationships as
well as extensive management
experience.
About IDEAS
IDEAS International, Inc., a
US corporation, is a
multinational software
development company serving
a worldwide client base from
offices in the U.S. and
overseas. Founded in 1982,
IDEAS International has two
decades of experience
providing software solutions
and associated professional
services to world-class
leaders in industry and
government.
Contacts
IDEAS International, Inc
Lucie Atamian, Director,
Global Sales
973.993.8000 ext 239
luciea@ideasintl.com
Candax Energy
Inc.
Chris Hopkins, CFO
(416) 368-9137
chopkins@candax.com
