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Gold/Mining/Energy : Centurion Energy Intl Inc -- Ignore unavailable to you. Want to Upgrade?

To: hankaaron who wrote (212)	9/7/2000 9:09:31 AM
From: Dan Hamilton	Respond to of 350

During the last year many juniors have been trading closer to 2 or 2.5 times cash flow. But I think the market is finally believing that higher oil prices are here for the foreseeable future. So a return to 4 or 5 times cash flow is likely. Add in an upside surprise from the Al-Manzah testing, and we certainly could see the last of the sub-$1 level in the next little while. Certainly yesterday's volume indicates something is up.

To: hankaaron who wrote (212)	9/7/2000 9:20:53 AM
From: Dan Hamilton	Read Replies (1) \| Respond to of 350

Here's the news. 9,000 bopd gross, 3375 net to CUX. Based on your numbers Hankaaron, it should be good for 50 cents or more cash flow. Am I right? Date: September 7, 2000 For Immediate Release: Centurion Energy Announces Test Rates from Al Manzah #2 Well in Tunisia Calgary, Alberta -- Centurion Energy International Inc. (TSE: CUX) announces initial testing results of its Al Manzah #2 development well located on the company's Grombalia Permit in Tunisia. Al Manzah #2 horizontal well was spudded August 4th and reached total depth of 1162 metres in the Bou Dabbous reservoir on September 4th. Al Manzah #2 well bottomed 55 vertical metres below the lowest known oil in the discovery well, Al Manzah #1, and has penetrated 219 meters of the Bou Dabbous reservoir. Bottom-hole location of Al Manzah #2 is 542 metres to the northwest of Al Manzah #1. Al Manzah #2 tested at initial rates of approximately 9,000 bopd with no water production. The well will be put on production at an optimum flow rate which is currently being investigated. Production from the well is expected to commence in approximately a week, immediately following logging and completion operations. This is the first horizontal well drilled in the Al Manzah field following Centurion's Al Manzah #1 that is currently on production. At present, Centurion's development plan calls for one additional well, Al Manzah #3, which is anticipated to spud in October. The Al Manzah field plan of development could be expanded to a total of five wells. Centurion Energy is the operator of Grombalia Permit through its subsidiary Ecumed Petroleum and owns 37.5% net working interest in the permit. Centurion is presently producing approximately 2,050 bopd (net) from three fields in Tunisia. The company's land position in Tunisia totals over 1.3 million net acres with high exploration potential. Headquartered in Calgary, Centurion Energy is also involved in exploration and development in Egypt.