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

Centurion Energy International Inc.

October 20, 2005 09:30 ET

Centurion Energy International Inc.: Egyptian Production Poised To Break Through 30,000 boepd and Amira 1 Well in Tunisia Spuds

CALGARY, ALBERTA--(CCNMatthews - Oct. 20, 2005) - Centurion Energy International Inc. (TSX:CUX)(AIM:CUX.L) -

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

SUMMARY

- All new facilities in El Wastani and South Manzala have now been completed but full commissioning has been delayed until a few minor start-up problems have been resolved. Full operation is expected within one week.

- Centurion's Egyptian production is currently in excess of 26,000 boepd. Additional production of 30 million cubic feet per day of natural gas plus liquids will be tied in shortly and will increase daily production to approximately 32,000 boepd. The targeted 2005 exit rate of 45,000 boepd is still within reach.

- The El Wastani 5 development well will be perforated in the Lower Abu Madi formation tomorrow and test results are expected over the weekend. The flow line is in place to tie this well into the expanded facilities.

- Three Rigs are currently available: Gelgel 11 will spud within the next 7 days; El Wastani East 3 spudded October 14, 2005; and El Wastani 7 is currently being logged.

- The West Manzala and West Qantara 2,000 square kilometer 3D seismic program is 60% complete. The crew will be released to another operator for about four months and then acquisition will continue. Interpretation and mapping of the first 600 square kilometers has been completed and at least 15 drilling locations have been identified.

- In Tunisia, the first offshore well on the Mellita Permit, Amira 1, was spudded on October 16, 2005.

Mr. Said Arrata states, "We are pleased with the continuing success that we are having with our Egyptian Nile Delta development drilling program. We have now drilled 14 wells in the 2004/2005 drilling program with 93 % success. The spudding of the Amira 1 well offshore in the Gulf of Gabes commences the next chapter of our exploration of potentially high impact plays in Tunisia."

El Wastani Production Lease

The El Wastani 5 development well has been completed as a producer in the Lower Abu Madi formation.

The ECDC#2 rig spudded the El Wastani East 3 well on October 14, 2005 with its primary targets in the Upper and Lower Abu Madi. The well is currently at 1,162 meters and is drilling ahead.

The Precision drilling rig #147 is drilling the El Wastani 7 location. The primary targets are in the Lower Abu Madi and Qawasim reservoirs. The well has reached total depth of 3,050 meters and is being logged.

The current production from the El Wastani Production Lease is 82 mmscfpd of natural gas and 4,300 bpd of condensate and natural gas liquids (17,967) boepd.

South El Manzala Production Lease

The SBDC Rig #50 is rigging up and is expected to spud the Gelgel-11 well within the next week.

The South El Manzala Facilities Upgrade and Pipeline Twinning Project is now complete.

The current production from the South El Manzala Production Lease is 45 mmscfpd (7,500 boepd).

Abu Monkar #3 Exploration Well

A new location has been prepared to drill the Abu Monkar #3 Exploration Well. The well will be spudded later in 2005 after all development wells have been drilled.

West Manzala and West Qantara Blocks

The 3D seismic acquisition program is well underway with 60% of the 2,000 square kilometer program completed. Early results of the processing and interpretation are very encouraging and 10 - 15 wells per year have been planned for the 2006-2007 drilling program.

West Gharib Permit (Centurion 30% Working Interest)

The Hoshia field is now producing from three wells. Work-over operations have been completed on the Hoshia 2 well and the well is now producing at 210 bopd. The Hoshia 3 well has been completed and is currently producing at 140 bopd. Total production from the Hoshia field is 820 bopd.

The Hana Field continues to have stable production currently producing at 1,770 bopd.

Current production from the West Gharib concession is 2,590 bopd (777 bopd net to Centurion).

TUNISIA

Mellita Permit

The operator, PetroCanada, has spudded the Amira 1 offshore well in the Gulf of Gabes on October 16, 2005. The well is expected to reach total depth in approximately 60 days.

Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Statements related to "reserves" or "resources" are deemed to be Forward Looking Statements as they involve the implied assessment, based on certain estimates and assumptions, that the resources and reserves described can be profitably produced in the future.

Boe's disclosed in this news release may be misleading, particularly if used in isolation. A boe conversion ratio of 6mfc:1 boe is based on an energy equivalency conversation method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Contact Information

  • Centurion Energy International
    Said S. Arrata
    President and CEO
    +1 403 263 6002
    or
    Centurion Energy International
    Barry W. Swan
    Senior Vice President and CFO
    +1 403 263 6002
    or
    Centurion Energy International
    Scott Koyich
    Investor Relations
    +1 403 215 5979
    or
    Citigate Dewe Rogerson, London
    Martin Jackson or Rachel Lankester
    +44 207 638 9571