CENTENNIAL ENERGY PARTNERS, L.L.C.

Galleon Energy Inc.
TSX : GO.A
TSX : GO.B

Galleon Energy Inc.

September 28, 2007 16:27 ET

Centennial Energy Partners, L.L.C.: Announcement

NEW YORK CITY, NEW YORK--(Marketwire - Sept. 28, 2007) - Centennial Energy Partners, L.P., Hoyt Farm Partners, L.P., Quadrennial Partners, L.P., Centennial Energy Partners V, L.P., Centennial Energy Partners, L.L.C., and Peter K. Seldin (collectively the "Reporting Persons") announce that they today acquired 800,000 Class A Shares of Galleon Energy Inc.(TSX:GO.A)(TSX:GO.B) pursuant to the private placement offering (the "Offering") in the United States which was concurrent with the offering of the Galleon Class A Shares pursuant to a Short Form Prospectus dated September 20, 2007 in Canada. The Offering closed on September 28, 2007. Centennial Energy Partners, L.L.C. is the General Partner of Centennial Energy Partners L.P., Hoyt Farm Partners, L.P., Quadrennial Partners, L.P and Centennial Energy Partners V, L.P. Mr. Seldin is the Managing Member of Centennial Energy Partners, L.L.C.

The purchase by the Reporting Persons of Class A Shares of Galleon Energy Inc. is for the purpose of investment. As a result of their participation in the Offering, the Reporting Persons currently own in the aggregate 6,652,100 Class A Shares of Galleon Energy Inc., representing 10.5% of the issued and outstanding Class A Shares. The total outstanding Class A Shares for purposes of determining ownership by the Reporting Persons include the 1,869,200 newly issued Class A Shares and the 1,463,400 Class A shares issued as Flow-Through Shares pursuant to the Short Form Prospectus dated September 20, 2007. The Reporting Persons may continue to purchase shares of Galleon Energy Inc. for investment purposes, depending on the market conditions for shares of Galleon Energy Inc. and other factors.

Contact Information

  • Centennial Energy Partners, L.L.C.
    Peter Seldin
    212-753-5150