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

Centurion Energy International Inc.

August 16, 2006 08:00 ET

Centurion Announces New Directors

CALGARY, ALBERTA--(CCNMatthews - Aug. 16, 2006) -

Not for distribution to United States newswire services or for dissemination in the United States.

Centurion Energy International Inc. (TSX:CUX) (AIM:CUX.L) ("Centurion") is pleased to announce the addition of Carmine Falcone of Houston, Texas, and Joe Darby of London, England to its Board of Directors.

Mr. Falcone retired from Shell Group of Companies in 2004 after a 36 year career with Shell, primarily in the downstream sector. His positions included Executive Vice President of Oil Products for Shell Canada, Head of Strategy Division (Global Manufacturing) in The Hague, Director of Strategic Planning for Global Oil Products for Shell International in London, Vice President of Refining for Equilon in Houston, Texas and Vice President of Manufacturing and Supply for Shell Oil Products U.S.A. Mr. Falcone is currently the Chairman of the Board for Gotar Technologies, a specialty chemicals producer in Quebec and a Board member for The Plaza Group, a chemicals marketer in Houston. He formerly held Board positions with several Shell subsidiaries, including Shell Canada and a Shell Saudia Arabia JV.

Joe Darby is a petroleum engineer by background with 37 years of international oil and gas industry experience in the UK, North and South America, North Africa, the Middle East and Indonesia. He has worked for major companies, Amoco and Shell, as well as the Thomson Corporation and the independent oil company Lasmo, where he was Chief Executive Officer prior to its acquisition by Eni in 2001. He is currently non-executive Chairman of Faroe Petroleum plc, an independent exploration company with activities in the UK, Norway and offshore the Faroe Islands. He is also senior non-executive director of British Nuclear Fuels plc, the UK Government owned nuclear service company where he chairs the remuneration and health, safety and environmental committees.

Concurrent with the addition of these two new directors, Centurion announces the resignation of Michael Miller and Derrick Armstrong as directors. Mr. Miller has been a director with Centurion since its inception, and is retiring from Centurion's Board to be able to spend more time on his personal business and charitable endeavors. Mr. Armstrong has been a director since 1998 and is a senior partner of Borden Ladner Gervais LLP, Centurion's legal counsel. Mr. Armstrong is considered to be non-independent, and is resigning as a director to increase the plurality of independent Board members. Mr. Armstrong will remain as Secretary of the Corporation. With these changes, the Corporation will now have a majority of its directors considered to be unrelated and independent. The independent directors are incumbent Board members Gary Awad and Rob Cook, and the new directors, Carmine Falcone and Joe Darby. Barry Swan, who retired as Centurion's CFO at the end of June, 2006, also remains as a director.

As previously announced, in May, 2006, Mr. David Thomas has joined Centurion's executive management team as President and Chief Operating Officer. More recently, in August, 2006, Mr. Greg Renwick has joined Centurion as Vice President, New Business Development. Mr. Renwick began his career with Mobil Oil, where he held various technical and senior management positions including General Manager for Turkmenistan and Business Development Manager for S.E. Asia and the former Soviet Union. Before joining Centurion, Mr. Renwick advised the Kuwait Foreign Petroleum Exploration Corporation on its worldwide business development activities.

Said Arrata, Centurion's Chairman and Chief Executive Officer, stated: "These recent additions to the company's Board and executive management team provide Centurion with added depth as we continue to expand our business operations. We are very pleased to welcome Mr. Falcone and Mr. Darby as directors, since they will bring a broad range of international oil and gas experience to the company, and also Mr. Renwick, who will significantly strengthen our new business capabilities. I would also like to thank Mr. Miller and Mr. Armstrong for their many years of exceptional service to the company as members of our Board of Directors."

Centurion is an independent oil and gas company operating primarily in the Egyptian Nile Delta. Its common shares are listed on the Toronto Stock Exchange and AIM in the United Kingdom.

Contact Information

  • Centurion Energy International
    Said S. Arrata
    Chairman and CEO
    (403) 263-6002
    or
    Centurion Energy International
    Dave Thomas
    President and COO
    (403) 263-6002
    or
    Centurion Energy International
    Scott Koyich
    Investor Relations
    (403) 215-5979
    or
    Citigate Dewe Rogerson, London
    Martin Jackson
    44 207 638 9571
    or
    Citigate Dewe Rogerson, London
    Kate Delahunty
    44 207 638 9571