Message #27 From:
NewsBot Date: November 13, 2006 03:00:00 AM
CGHI News Centurion Announces Successful Coupling of BBB Well, Commercial Gas Line
JOHANNESBURG, South Africa--(BUSINESS WIRE)--Centurion Gold announced today the BBB Well in Wharton County, Texas,
has been coupled to the commercial gas line in October 2006. The first
revenues will be paid to Centurion’s
subsidiary, Odyssey Oil, in December 2006. Centurion Gold CEO and
President, Arthur Johnson, stated, “We are
excited about this development. This coupling represents a success for
our Company on a project we have been faithfully pursuing.”
Centurion expects to have immediate positive cash flows from this Texas
gas investment. Centurion is currently finalizing negotiations with
operators to drill the next production phase of the BBB Well.
Centurion Gold Holdings (OTCBB:CGHI)
is a resource development company that acquires, develops and mines or
spins out natural resource assets. The Company's mineral assets
generally have combined the potential for a near term revenue stream and
existing low cost production operations with turnaround opportunities.
Based in South Africa, the Company is ideally suited to exploit new
legislation implemented by the South African government in May 2004.
This legislation enforces a "use it or lose it" strategy, whereby all
mining claims must be prospected within a designated time frame;
otherwise, such prospects revert to the state, thereby creating
never-before-seen opportunities, particularly for smaller companies like
Centurion. The Company has built a strong team of experienced management
and operations mining professionals to exploit these opportunities and
is positioning itself to become a major producer by continually
implementing its "growth through acquisition" strategy. www.centuriongold.com
Forward-Looking Statements
Statements about the Company's future expectations, including future
revenues and earnings, and all other statements in this press release
other than historical facts are "forward-looking statements" within the
meaning of section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and as the term is defined in the
Private Securities Litigation Reform Act of 1995. The company's actual
results could differ materially from expected results. The Company
undertakes no obligation to update forward-looking statements to reflect
subsequently occurring events or circumstances. Should events occur
which materially affect any comments made within this press release the
Company will appropriately inform the public.
