Centric Energy Corp.
TSX VENTURE : CTE

Centric Energy Corp.

January 30, 2008 13:15 ET

Centric Energy Corp.: Appointment of Exploration Manager

LONDON, ENGLAND--(Marketwire - Jan. 30, 2008) - The Board of Centric Energy Corp. (TSX VENTURE:CTE) is pleased to announce the appointment of Mr. Malcolm Brierley as Exploration Manager.

Malcolm is a honours graduate in Geology from the prestigious University of Bristol, UK, and has over 30 years' global experience in petroleum exploration and production. He is a Fellow of the Geological Society of London (FGS), and a member of the Petroleum Exploration Society of Great Britain (PESGB).

His experience includes the position of Exploration Manager with Maxus Energy Corporation in Indonesia where he was responsible for adding 250 million barrels of reserves in a mature province. Subsequently, he held the position of Exploration Director with Repsol Exploracion in Indonesia, Moscow and Almaty, supervising a technical and commercial team that evaluated opportunities and concluded deals in Cambodia and Kazakhstan.

As Geotechnical Director with Bayphase Oil & Gas Consultants he worked on numerous projects in the Middle East, north and west Africa, and countries of the former Soviet Union (FSU). In particular he developed a comprehensive high-level reserves analysis of all fields in Iraq and with colleagues developed cost estimates for rehabilitation and new investment requirements. Malcolm has also worked as a Consultant for various companies on exploration and new ventures projects in east and west Africa, the FSU, southeast Asia and South America.

As Exploration Manager of Centric Energy, Malcolm will be responsible primarily for identification and evaluation of new opportunities. He will also be responsible for monitoring the ongoing work of the operating companies on our existing interests in Mali and Russia. Malcolm's role will be a key support in ensuring the future growth and success of the Company.

Alec Robinson, Centric Energy's President & CEO says: "Centric Energy is continuing to build-out its management team in line with our plans for the continued expansion of the Company. Malcolm's global expertise in evaluating exploration assets and finding sizable deposits will be invaluable in pursuing the Company's mandate of looking for undervalued opportunities. Centric Energy welcomes him into the Company."

ON BEHALF OF CENTRIC ENERGY CORP.

Alec E. Robinson, President and CEO

This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statements:

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Centric's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Centric Energy Corp. does not assume the obligation to update any forward-looking statement except as required by applicable securities laws.

Cautionary Statement:

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release

Contact Information

  • Centric Energy Corp.
    Brooke Cote
    Investor Relations
    Toll Free: 1-800-962-7189
    Website: www.centricenergy.com