Centurion Energy International intends to list on London's Alternative Investment Market (AIM). Centurion's focus is on North Africa, where they currently operate in Tunisia and Egypt.
Centurion's working interest share of production in Tunisia, from the company-operated fields of Al-Manzah, El Biban, Ezzaouia and Robbana, is 2,576 barrels per day. The SEEB 25 Megawatt Power Project, in a joint development with Caterpillar, is in the final testing phase and will add approximately 666 bpd when it commences commercial operations.
In Egypt, the company produces 3,125 bpd from its oil and gas interests in the El Wastani and Hana Fields. Centurion's total production is currently 5,701 bpd, which is more than double its 2001 exit rate.
"Our intention to list on AIM follows naturally from the company's progress in North Africa over the past few years. The London market has proven itself keen to support companies with interests in Tunisia and Egypt, which are politically stable with progressive fiscal regimes for junior explorers,” said President and CEO of Centurion, Said Arrata.
Centurion plans to continue to expand its presence in North Africa by acquiring new concessions in bid rounds, purchase of existing production, farm-ins and or mergers. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
