09:40 AM EST - Addax Petroleum Corp. : said Mirror Lake Oil and Gas Company Ltd., an indirect wholly-owned subsidiary of Sinopec International Petroleum Exploration and Production Corp., has commenced its offer for Addax Petroleum and mailed the offer and take-over bid circular as well as the Addax Petroleum directors' circular, containing the Addax Petroleum board's unanimous recommendation to accept the offer, to Addax Petroleum shareholders. On June 24, Sinopec and Addax Petroleum reached an agreement for Mirror Lake to make an offer to acquire all of Addax Petroleum's outstanding common shares for $52.80 per common share in an all-cash deal. Addax Petroleum Corp.
shares T.AXC are trading even at $49.17.
