Centurion also looks forward to completing the ongoing corporate transaction, under which Dana Gas PJSC ("Dana Gas") has offered to acquire all of Centurion's outstanding common shares at a price of $12 Canadian per share.
As a regional company, Dana Gas has its own strategic plans in Egypt and is committed to establishing a significant integrated gas business in the country, founded on Centurion's existing producing fields (El Wastani and South El Manzala) and the surrounding exploration acreage, including West Manzala and West Qantara.
Centurion expects the corporate transaction between Dana Gas and Centurion to close as planned, following the Special Meeting of the Centurion Security Holders which is scheduled to be held on the 8th January 2007.
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