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

To: Dan Hamilton who wrote (258)	12/18/2000 3:11:23 PM
From: JUNIORSPECULATOR	Respond to of 350

Hello Dan: My thoughts also. Oh well the company is moving ahead with their projects..Gas equivilant to an additional 1200 barrels per day..This in additional to current production. Looking very good.....Good dayyyyyyy Ronald Centurion receives approval for Egyptian gas sales Centurion Energy International Inc CUX Shares issued 62,743,563 Dec 15 close $0.85 Mon 18 Dec 2000 News Release Mr. Said Arrata reports Formal approval has been received from the Egyptian government for the El Wastani plan of development for a gas sales contract and for processing tariff arrangements relating to the El Wastani gas and condensate field. "The formal approval of arrangements for the sale of our first production in Egypt is a very exciting milestone for Centurion," stated Said Arrata, president and chief executive officer of Centurion Energy. "Egypt has tremendous production upside for our company and these approvals allow us to aggressively move forward to convert El Wastani reserves into cash flow." El Wastani No. 2, Centurion's second re-entry well in the field, was recently completed for production. The drilling rig moved off the lease on Dec. 5 and it is planned the well will be put on test early this week. The next step will be to construct two pipelines to carry gas and condensate to processing facilities located 22 kilometres to the west of the El Wastani field. Centurion is planning to drill more wells in the El Wastani area in 2001-2002 to increase production. Approval to drill the next location, East El Wastani -- located eight kilometres northeast of El Wastani field, was recently received. Centurion plans to start producing from two wells in the El Wastani field by midyear 2001 at an anticipated initial production rate of approximately 12 million cubic feet a day (1,200 barrels of oil equivalent a day). The El Wastani field is located on Centurion's 420,000-acre El Manzala concession that is located in Egypt's prolific Nile Delta region. Centurion owns a 100-per-cent working interest in the El Manzala concession. In the Abu Monkar area, located in the southern sector of the El Manzala concession, Centurion has received preliminary approval for its plan of development for the Abu Monkar discovery, which includes plans to construct a 55-kilometre pipeline to tie-in gas to the national gas line. Centurion's second well in the Abu Monkar area has been approved by the Egyptian government authorities. Drilling tenders have been sent out, to drill the next locations in Egypt. The tender package includes three firm wells and four optional wells. It is expected the drilling bids will be received within the next seven days. WARNING: The company relies upon litigation protection for "forward-looking" statements. (c) Copyright 2000 Canjex Publishing Ltd. stockwatch.com