CENTENNIAL ENERGY PARTNERS, L.L.C.

Compton Petroleum Corporation
TSE : CMT.CN
NYSE : CMZ

December 14, 2007 12:27 ET

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

NEW YORK CITY, NEW YORK--(Marketwire - Dec. 14, 2007) - Centennial Energy Partners, L.P., (CMT.CN:TSE)(NYSE:CMZ) 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 sent a letter to M.F. Belich, Q.C., the Chairman of the Board of Directors, and E.G. Sapieha, C.A., the President and Chief Executive Officer of Compton Petroleum Corporation. The letter expressed doubts that the current management of Compton Petroleum has a specific plan to eliminate the valuation discount which Centennial believes has developed between the underlying value of the Company's asset base and the share price.

In the letter, Mr. Seldin, in his capacity as Managing Member of Centennial Energy Partners, L.L.C. requests that the Company's Board of Directors begin a formal process to review the Company's strategic options, including the potential sale of Compton Petroleum Corporation.

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 Reporting Persons currently own in the aggregate 25,545,796 common shares of Compton Petroleum Corporation, representing 19.78% of the issued and outstanding common shares.

Contact Information

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