Centurion Announces Ezzaouia-15 Test Results

Centurion Energy International reports that the Ezzaouia-15 development well (Centurion 31.4% WI) in Tunisia flow tested a combined rate of 1,520 bpd of oil with no water from two separate zones totaling 21 meters of net pay. The majority of the tie-in operations have already been completed and production from Ezzaouia-15 is expected before month end. Solution gas produced with the oil from Ezzaouia-15 will be sold to the SEEB power plant.

The rig used to drill Ezzaouia-15 is being mobilized to the Ezzaouia-16 location. This exploratory well will test a new pool on the South West flank of the main Ezzaouia field. Drilling is expected to commence in early October.

In Egypt, Centurion has commenced testing the lowest of three sand intervals at Gelgel-3. Testing operations of all three zones are expected to be completed this week at which time the service rig will mobilize to Gelgel-4 for completion and testing operations.

Tie-in of Ezzaouia-15 brings Centurion's total production to over 14,000 boepd prior to any production increments from the Gelgel 3&4 wells or future El Wastani wells planned for drilling prior to year-end. Centurion now anticipates that it will exit 2004 at approximately 16,000 boepd.