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CENTURION’S PARTNER HOUSTON INDEPENDENT ESCOPETA GETS JONES ACT WAIVER
JOHANNESBURG, South Africa—July 13, 2006-- U.S. Sen. Ted Stevens announced in Anchorage today that Escopeta Oil has received a Jones Act waiver that will allow the Houston independent to bring a jack-up rig into Cook Inlet.
The Jones Act requires U.S. flagged vessels be used between U.S. ports. Escopeta has to use a foreign-flagged vessel to transport the Songa Offshore Tellus jack-up from the Gulf of Mexico to Alaska.
Without the waiver, Escopeta and its partner Centurion Gold Holdings would have had to pay hefty fines.
According to Escopeta President Danny Davis the waiver was issued June 27 by Homeland Security. He said it was granted in the interest of national security.
The Tellus is currently being refurbished in Port Arthur on the Gulf of Mexico.
Escopeta had hoped to transport the jack-up to Alaska this summer, but the company doing the refurbishment needs another four to five months to finish it, Davis said.
“Our plans are to leave for Alaska in December and have the Tellus drilling at our East Kitchen prospect in February or March,” he told Petroleum News today.
ASRC Energy Services has been hired to operate the Tellus. It will oversee Inlet Drilling crews trained for the Tellus by Songa.
Centurion Gold Holdings, Inc.
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.
Contact:
In the United States: MCC Financial Services Dana M Smith, (801) 816-2568 ir*mccglobal.com or In Europe: MCC Financial Services Carrie Howes, +44 (0) 207 408 5406 ir*mccglobal.com
Dana M. Smith
Account Executive
MCC Financial Services
10757 South River Front Parkway, Ste. 125
South Jordan, Utah 84095
Tel: (801) 816-2500
Mbl: (801) 898-1027
Fax: (801) 816-2599
Posts: 23 | From: USA | Registered: Jun 2006
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