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Gold/Mining/Energy : Centurion Energy Intl Inc

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To: JUNIORSPECULATOR who wrote (233)	10/4/2000 2:23:45 PM
From: Dan Hamilton	of 350

Ronald: Some updates from the company. I'm transcribing from notes made last week, so hopefully I've got it right... CUX participated in an Investor Conference in Toronto, and was apparently well received. Several of the companies that sell to Institutions are taking a hard look at CUX now. The Research Capital report is delayed again, as the analyst left the company and has been replaced by a new one. The report on CUX is virtually complete, but the new analyst has to get up to speed. CUX has aggressive plans for Egypt. They are talking to the banks in Egypt about financing for the pipeline work. In addition, they are speaking to a mid-tier U.S. company who are interested in expanding internationally. They expect El Wastani #2 re-entry in late October or early November. They will then begin plans for the pipeline. Gas would be expected to flow by April - June of 2001. Basically, at the current share price, there is no valuation being given to Egypt. This should change once development begins. The deep Triassic area in Tunisia offers lots of potential. A possible strategy here is to get a consortium of 5 or 6 companies together to develop it. They expect to finalize agreement with the banks in Tunisia on the power generation project in the next couple of months. It seems that things are progressing slowly but surely towards monetizing the many assets in CUX's portfolio. Dan

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