FSC / Press Release
Block 2 Concession Extended
St. Michael, Barbados, WI, November 10, 2009 /FSC/ - Century International Oil and Gas Corporation (CI - 0),and its wholly owned subsidiary, Archean Benin Energy SARL, are pleased to announce they have successfully negotiated a time extension on their Block 2 concession with the government of the Republic of Benin.
The extension provides Century with the opportunity to drill two wells in the next nine months on Block 2, an 835 km2 area off-shore Benin. The extension granted by the government also permits Century to drill exploration wells in a 260 km2 area, ten kilometers to the south of the existing Block 2. In the event of a commercial discovery, Century will be able to incorporate these additional lands within the boundaries of an exploitation permit under the terms of its existing Exploration and Exploitation Agreement with the government.
Century is in discussion with third parties with respect to drilling the prospects it has identified using its proprietary 3D seismic data. The Company believes Block 2 is very prospective for Cretaceous age turbidite deposits with similarities to others recently discovered off the coast of west Africa. The following map outlines Century's Benin Block 2 and the additional lands granted by the government.
To view the map associated with this press release, click on the link below or paste the link into your browser:
http://www.usetdas.com/maps/centureimage.htm
Century International Oil and Gas Corporation is a private company engaged in international oil and gas exploration and development, with its head office located in Bridgetown, Barbados.
For further information contact:
Jim Wilson
Vice President, Finance & CFO
(403) 218-3210
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