Centurion and Shell End Farm-in and LNG Deal
Centurion Energy International Inc. said that Shell West Manzala GmbH and Shell West Qantara GmbH (collectively, "Shell") and Centurion have agreed to terminate the West Manzala and West Qantara Farm-in and LNG Co-operation Agreement. Accordingly, Centurion will gain ownership of a 100% working interest in these highly prospective exploration concessions.
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.
Operates 29 Offshore Rigs
- UK Firm Intertek Says Employee Involved in Shell Oil Theft Case (Jan 17)
- Shell Looks Beyond Road Fuels to Secure Future of Refining (Nov 06)
- API Panel Member: Voluntary Methane Program Forthcoming (Oct 06)
Company: Centurion Energy International more info
- Thomas to Begin New Role at Melrose in Early June (May 09)
- Melrose Names New Chief Exec (May 02)
- Centurion Set to Become Part of Dana Gas (Jan 09)
Company: Dana Gas PJSC more info
- Dana Gas Is Said to Miss Payment on $700 Million Sukuk Today (Oct 31)
- Dana Fight With BlackRock to Start Despite UAE Court Order (Sep 19)
- UAE's Dana Gas to Review Egypt Investment If Not Repaid Dues (Nov 09)