VOL. XLVI

No 35

01-September-2003

TUNISIA

Petro-Canada Farms Into Centurions Mellita Permit

Centurion Energy and Petro-Canada announced on 21 August they had concluded a financing agreement covering the Mellita Exploration Permit located offshore Tunisia and owned 100% by Centurions wholly owned subsidiary Ecumed Petroleum (Grombalia). Under the terms of the agreement Petro-Canada will become operator and will fund 100% of the cost of an exploration program, up to $13.5mn, in return for a 72.5%...