Centurion Energy Spuds El Wastani #2 Re-entry Well in Egypt.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Nov. 14, 2000 Centurion Energy International Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CUX CUX Corporate University Xchange (provides education research, benchmarking and advisory services to corporate America) .) announces drilling of El Wastani #2 re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had. 2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the well located in the prolific Nile Delta The Nile Delta (Arabic:دلتا النيل) is the delta formed in Northern Egypt where the Nile River spreads region of Egypt. The well, which was originally drilled and proven commercially viable in 1989 and suspended due to lack of gas market at that time, will be tested and completed for production. Centurion's first re-entry well on the field, El Wastani #1, production tested in 1998 at a rate of 12.1 mmcf/d of natural gas and 315 bbls/d of condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. . The El Wastani field is located on the El Manzala Concession which covers 420,000 acres in Northern Egypt. Centurion has a 100% working interest in the concession. Centurion's plan of development for the El Wastani field, once El Wastani #2 is completed for production, includes construction of a 20 kilometer pipeline to be tied-in to an existing gas processing facility. The company anticipates that the El Wastani field will be on production by mid-2001. The company also reports that it has secured drilling equipment and has scheduled the spudding of its third well in the Al Manzah field in Tunisia before year-end. Drilling of Al Manzah #3 had been delayed due to delays in finalizing a surface lease, which has now been completed. Notwithstanding this delay, Centurion reports that all required preliminary work, including an environmental study and government approvals, has been completed and the rig is ready for mobilization mobilization Organization of a nation's armed forces for active military service in time of war or other national emergency. It includes recruiting and training, building military bases and training camps, and procuring and distributing weapons, ammunition, uniforms, . Centurion's plan of development for the Al Manzah field, assuming the successful testing of Al Manzah #3, could be expanded to a total of five wells. The company will be posting drilling operation updates on its web site. Certain statements in this press release constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The information in this press release is based on Centurion Energy's current information, expectations and assumptions, and is subject to a number of uncertainties and risks which could cause the actual results to differ materially from those anticipated. |
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