By OGJ editors
HOUSTON, Dec. 20 -- Candax Energy Inc., Calgary, is awaiting presidential ratification of a production-sharing contract on Block 1101 in Madagascar.
Interests in the 15,000 sq km block are Candax Energy operator with 60% and EAX, Dubai, 40%.
The work program is geological and geochemical studies, shooting 2D seismic, and drilling 1 well for total spending of $1.5 million in the 2-year first phase.