Drilling Report
October 21 2003 - 10:30AM
UK Regulatory
RNS Number:1176R
Centurion Energy International Inc.
21 October 2003
NEWS RELEASE
DATE: October 21, 2003
Centurion Energy International Inc. ("Centurion")
GELGEL FIELD IN SOUTH MANZALA, EGYPT COMMENCES PRODUCTION.
TOTAL CENTURION PRODUCTION EXCEEDS 9,900 BOEPD
Said Arrata, Centurion's President and CEO is pleased to announce that the
Gelgel field commenced production on October 20, 2003, from the company's South
Manzala Development Lease (Centurion 100% working interest) located in Egypt's
Nile delta region.
The Gelgel field commenced production under natural flow on October 20, 2003 and
has brought total production from the South Manzala area to 33 mmcf/day, and has
raised company-wide production to approximately 9,900 boepd.
Centurion is completing the compression facilities which will increase total
production from the South Manzala area and stabilize production to the
contracted production rate of 35 mmcf/day. Completion of the compression
facilities is expected in mid November, 2003, at which time total production
will exceed 10,000 boepd.
This increase in production will allow Centurion to begin a new phase of high
impact exploration. As previously released on October 16, 2003, Centurion has
announced a financing initiative which is expected to close within the week.
These funds, in addition to current operating cash flow will be used to further
explore and develop Centurion's current land holdings, in addition to pursuing
several strategic acquisitions of proven producing properties.
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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 More Information:
Said S. Arrata, President and CEO, or Barry W. Swan, Senior Vice President,
Finance and CFO,
Tel: (403) 263-6002 / Fax:(403) 263-5998 / E-mail: info@centurionenergy.com
Web: http://www.centurionenergy.com
Chris Steele / John Bick
Holborn
Tel: +44 (0) 20 7929 5599
David Newton / Joe Nally
Williams de Broe
Tel: +44 (0) 20 7588 7511
This information is provided by RNS
The company news service from the London Stock Exchange
END
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