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Centurion Increases Egyptian Reserves By 95%

Source: www.oilegypt.com 9/14/2005, Location: Africa

A reserve update as at June 30, 2005 has been prepared by Ryder Scott Petroleum Consultants. Centurion has increased its proved and probable reserves (before deduction of royalties, production taxes or their equivalent) in Egypt from 45.3 million boe at December 31, 2004 to 88.5 million boe as at June 30, 2005, an increase of 95%. Reserves at June 30, 2005 include 414 bcf of natural gas and 19.5 million barrels of oil and natural gas liquids.

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