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Gold/Mining/Energy : KERM'S KORNER
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To: SofaSpud who wrote (10810)5/20/1998 8:20:00 PM
From: Herb Duncan  Read Replies (2) of 15196
 
CORP / Centurion - First Tanker Load for El Biban

TSE SYMBOL: CUX

MAY 20, 1998



CALGARY, ALBERTA--The first tanker for shipping El Biban crude has
been contracted and will be loading on or about May 23, 1998. The
shipment of approximately 165,000 barrels of oil will be
transported to a refinery in the Mediterranean region. The
shipment will be for the account of Centurion for 73.7 percent and
for Centurion's partner Aminex PLC for 26.3 percent. Total
production to date from the El Biban field is in excess of 250,000
barrels. The daily production is currently in excess of 4,000
barrels per day with a low gas/oil ratio.

Centurion has accepted the resignation of Mr. William Cherwayko as
a Director of the Corporation. The company is grateful for the
contributions made by Mr. Cherwayko in establishing Centurion as a
major participant in the Tunisian oil and gas arena.
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