With Dana Merger Imminent, Centurion to Delist from AIM

Centurion Energy International Inc. announced that a special meeting of shareholders called to approve a plan of arrangement between Centurion and Giza Acquisition Inc. (being a subsidiary of Dana Gas PJSC), the details of which are set out in the company's information circular, will be held on 8 January 2007.

Assuming that 66 percent of the voting shareholders approve the plan of arrangement described in the company's information circular and a final court order approving the plan of arrangement is obtained from the Alberta Court of Queen's Bench, holders of Centurion shares will receive Cdn$12.00 in cash for each Centurion share held and holders of Centurion options will receive cash equal to the difference between Cdn$12.00 and the exercise price of the option for each unexercised option. At the closing of the arrangement, which is expected to occur on 9 January 2007, Centurion will become a wholly owned subsidiary of Dana Gas. Centurion shareholders of record as of that date will have no further rights as shareholders other than the right to receive the aforesaid consideration for their shares.

UK Shareholders should refer to the company's information circular for instructions on how to vote their shares at the meeting and how to tender their shares for settlement.

Following the closing of the plan of arrangement, Centurion intends to proceed with delisting from the Toronto Stock Exchange (TSX) and AIM and also to withdraw from CREST. It is anticipated that the Centurion common shares will be delisted from the TSX and that its AIM listing will be cancelled on or about January 11, 2007.


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