Centurion Announces Fourth Discovery in Egypt

Centurion Energy International Inc. announces that testing of its Sherbean-1 well in the El Manzala Concession, Egypt has been successfully completed.

A gas-bearing zone with net pay of approximately 12 meters in the Kafr El Sheikh formation was perforated and production tests with multiple choke sizes were carried out. The well tested at a maximum rate of 20 million cubic feet of gas with no water through a 3/4 inch choke with average wellhead pressure of 1350 PSI. The well is currently shut in for pressure build up, after which full analysis of the pressure data will be carried out for reserve estimates. Gas shows were also encountered in two additional zones that were not tested.

Once reserve estimates for the Sherbean-1 discovery are determined, an amendment to the existing Abu Monkar Area Plan of Development will be submitted to the Egyptian General Petroleum Corporation (EGPC). Upon approval, the Company intends to commence pipeline construction to tie-in gas from Sherbean, Gelgel and Abu Monkar to the national gas grid.

Centurion Energy is the operator and holds a 100% working interest in the 420,000 acre El Manzala concession which is located in the Nile Delta region of Egypt.


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