Centurion Releases Initial Results from El Wastani #3 Well

Centurion Energy International announces the initial results of its testing program for the El Wastani #3 well in Egypt.

Testing operations commenced on May 13, 2004 with the perforation of the Upper Abu Madi Sands. The well flowed on a 5/8 inch choke at rates ranging from 15.7 to 18.0 mmscf/d. Condensate production during the test averaged 540 bpd.

Preparations are underway for testing the second zone, the lower Abu Madi Sands. Further updates on testing the second zone will follow.

Update on Tunisian Drilling Program:

Centurion is also pleased to report the spudding of the Ezzaouia #14 well on May 8, 2004. This Well will test a potential extension to the south of the existing oilfield. At time of reporting, the well was waiting on cement after having been cased with 13-3/8 inch surface casing at a depth of 302 meters.

The Ezzaouia #14 well is targeting the Jurassic reservoirs at a depth of approximately 2300 meters. The well is expected to take another 40 days to reach total depth. This is the first of a three well program on the Ezzaouia Concession with all wells to be drilled consecutively with Rig CTF#6.
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