Centurion Energy International Inc.
TSX : CUX
AIM : CUX.L

Centurion Energy International Inc.

January 09, 2007 08:00 ET

Centurion Announces Approval of Plan of Arrangement

CALGARY, ALBERTA--(CCNMatthews - Jan. 9, 2007) - Centurion Energy International Inc. (TSX:CUX) (AIM:CUX.L) ("Centurion") is pleased to announce that the securityholders of Centurion have approved the plan of arrangement (the "Plan of Arrangement") involving Centurion, Giza Acquisition Inc. ("Giza"), a wholly-owned subsidiary of Dana Gas PJSC ("Dana Gas"), the holders of common shares in the capital of Centurion ("Common Shares") and the holders of options ("Options") to purchase Common Shares, as more particularly described in the management information circular of Centurion dated December 6, 2006. At the special meeting of securityholders to approve the Plan of Arrangement held on January 8, 2007, 43,867,337 votes representing 94% of the Common Shares and 2,773,533 votes representing 100% of the Options were voted in favour of the Plan of Arrangement. A majority of the minority shareholders of Centurion also voted in favour of the Plan of Arrangement. In addition, the Court of Queen's Bench of Alberta has approved the Plan of Arrangement.

Centurion expects to file articles of arrangement on or about January 10, 2007 to effect the Plan of Arrangement. Upon the filing of articles of arrangement, Centurion will become a wholly-owned subsidiary of Giza and the former shareholders of Centurion will receive $12.00 cash in exchange for their Common Shares.

Contact Information

  • Centurion Energy International Inc.
    Said Arrata
    Chairman and CEO
    (403) 263-6002
    or
    Centurion Energy International Inc.
    Scott Koyich
    Investor Relations
    (403) 215-5979
    or
    Citigate Dewe Rogerson
    Martin Jackson
    +44 207 638 9571
    or
    Canaccord Adams Limited
    David Porter
    +44 20 7518 2777
    or
    Canaccord Adams Limited
    Tyler Broda
    +44 20 7518 2777