Centurion Energy Disappointed with Robanna-2 Well

Centurion Energy International reports that interpretation of well logs has determined that all potentially productive zones in the Upper and Basal Meloussi formations in its Robbana--2 well in Egypt are water-bearing. Good reservoir quality sands, some with oil staining, were encountered in both prospective horizons.

The Robbana-2 well result, while disappointing, is only the first well in Centurion's announced 23 well drilling program for 2004 and 2005.

Centurion expects drilling to commence on the planned three well Ezzaouia program in Tunisia around the end of March, 2004. The first well in the program will be Ezzaouia 14.

The first well in Centurion's Egyptian drilling program, El Wastani--3, is also expected to spud around the end of March, 2004.

Centurion continues to produce approximately 10,400 boepd from its fields in Tunisia and Egypt.
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