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CUXA Cent.Energy Res

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0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Cent.Energy Res LSE:CUXA London Ordinary Share CA1559052016 COM SHS NPV (RESTRICTED)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Drilling Report

14/09/2004 4:18pm

UK Regulatory


RNS Number:9525C
Centurion Energy International Inc.
14 September 2004


NEWS RELEASE

DATE:  SEPTEMBER 14, 2004

                 CENTURION REPORTS SUCCESS IN EGYPT AND TUNISIA

Centurion Energy International Inc. reports that the Gelgel-2 development well
in Egypt flow tested 15 mmscf/day of dry gas from two separate sands totaling 12
meters of pay.  Final hook-up of the Gelgel-2 well to our existing gas plant is
currently underway with the well expected to commence production early next
week.  The service rig used for Gelgel-2 is now mobilizing to the Gelgel-3
development well which was drilled and cased to total depth in late August.
Production testing of two zones totaling 8.5 meters of gas pay in Gelgel-3 is
expected to commence this week.  Production from Gelgel-3 will be immediately
tied into our existing infrastructure.

The Gelgel-4 exploration well reached total depth in early September and has
been cased as a potential gas producer.  Logs indicate a gross sand section of
13 meters with gas shows observed during drilling.  Completion and testing will
follow the testing operations at Gelgel-3.  Centurion's focus will now shift to
testing deeper prospects potentially containing liquid rich gas.  The East El
Wastani-2 well is anticipated to spud during the second week of October and will
be followed by the El Wastani-4 well using the same drilling rig.  Centurion has
sourced a second drilling rig which will be used for the Abu Monkar-2
exploration prospect in the South Manzala area.  This second rig is expected to
be available in the fourth quarter of 2004.

In Tunisia, testing and completion operations at Ezzaouia-15 are ongoing in the
two productive zones encountered.  The lower zone is a 5 meter interval and
flowed at rates up to 380 bopd with no water.  Testing operations are now
focusing on the upper zone which has approximately 16 meters of pay.  Results
from the upper zone should be available in the next two weeks.

Upon commencement of production from Gelgel-2 and the resumption of full
operations at SEEB, Centurion's production will exceed 13,000 boepd.  Additional
production from Ezzaouia-15 and the Gelgel 3&4 wells is anticipated upon the
completion of testing and tie-in operations.

Centurion has embarked on an aggressive growth plan to increase its Egyptian gas
production by an additional 100 mmscf/day by mid 2005, and another 100 mmscf/day
by the end of 2005.  These recent successes in Tunisia and Egypt have Centurion
poised to exit 2004 with production exceeding 15,000 boepd and has the company
on track to achieve its planned production targets for 2005.

Certain statements in this News Release constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the
Corporation to be materially different from any future results, performance or
achievements expressed or implied by such forward looking statements.


For More Information:

Said S. Arrata, President and CEO, or
Barry W. Swan, Senior Vice President, Finance and CFO
Tel:  (403) 263-6002 / Fax: (403) 263-5998
or
Chris Steele / Tarquin Edwards
Tel:  020 7929 5599

E-mail: info@centurionenergy.com
Web:  http://www.centurionenergy.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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