2009-08-19-2007-02-01-2007-02-01

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
$1,250.0MM
Description

Reserves: 100 MMBOE

Dana Gas PJSC, Sharja, UAE, (Abu Dhabi: DANA) has closed its acquisition of Centurion Energy International Inc., Calgary, (Toronto: CUX) for C$12 per share plus C$99 million in assumed debt for a total value of approximately C$1.25 billion (US$1.1 billion). Centurion Energy has assets in Egypt, Tunisia and offshore West Africa in the Sao Tome/Nigeria joint development zone, totaling 5.7 million gross acres (4.8 million net). Production is approximately 32,000 barrels of oil equivalent per day from the El Wastani, South Manzala and West Gharib fields in North Africa. Proved-plus-probable reserves are approximately 100 million barrels equivalent. Centurion Energy will become a subsidiary of Dana Gas. Dana Gas executive chairman Hamid Dhiya Jafar says, "This acquisition gives Dana Gas an important strategic entry into the region's upstream natural gas sector and provides it with a unique growth platform based on a solid base of existing assets."