Issue of Equity

RNS Number:2146R
Centurion Energy International Inc.
23 October 2003




                      CENTURION ENERGY INTERNATIONAL INC.

        CENTURION PLACES 4,742,254 COMMON SHARES WITH EUROPEAN INVESTORS

Centurion Energy International Inc ("Centurion" or the "Corporation") (TSX: CUX;
AIM: CUX.L) is pleased to announce that further to its previous press release of
October 16, 2003 announcing a European and Canadian private placement of up to
9.0 million common shares, 4,742,254 new common shares ("the New Common Shares")
have been placed with European investors at a price of CDN $2.05 each.
Immediately following the placing, the New Common Shares, which will rank pari
passu with the existing common shares, will represent 7.0 per cent. of the
Corporation's enlarged common share capital.

Application will be made for the New Common Shares to be admitted to trading on
the Alternative Investment Market of London Stock Exchange plc ("AIM") and to be
listed on the Toronto Stock Exchange ("TSX") and such admission and listing is
expected to become effective and dealings to commence in the New Common Shares
on 28 October 2003.

It is expected that the remainder of the new common shares to be issued pursuant
to the private placement will be placed with Canadian investors on or around 28
October 2003 and that admission of these shares to AIM and listing on TSX will
occur, and trading commence, soon thereafter.

Net proceeds of the offering will be used by the Corporation for planned
acquisitions of proved, producing oil and gas properties in its current
operating regions as well as ongoing exploration and development activities.

Centurion Energy International Inc. is a Canadian oil and gas exploration
company actively engaged in international exploration and development
activities, primarily in North Africa. The Company's common shares trade on the
Toronto Stock Exchange and on the Alternative Investment Market (AIM) of the
London Stock Exchange.

This news release shall not constitute an offer to sell or the solicitation to
buy the securities in any jurisdiction. The common shares will not be and have
not been registered under the United States Securities Act of 1933 and may not
be offered or sold in the United States absent registration or an applicable
exemption from the registration requirements.

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 further information contact Said S. Arrata, President and CEO, or

Barry W. Swan, Senior Vice President and CFO of the Corporation;


Tel: [phone]

Fax: [phone]

E-mail: [e-mail]

Web: http://www.centurionenergy.com


or


Joe Nally of Williams de Broe Plc

Tel: [phone]






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

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