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Centric Energy Corp V.CTE



TSXV:CTE - Post by User

Post by bregenon Sep 29, 2010 11:50am
228 Views
Post# 17506798

If you have questions just call.

If you have questions just call.
Thankyou for your enquiry. In response, I have attached the recent CentricEnergy News Release dated 28th September 2010 which is relevant to the judicial review application in question.

See below for the relevant section from the afore-mentioned News Release:

In addition to the approval of the Kenyan Government, another condition precedent to the closing of the farm-in is the resolution of a judicial review application filed against Kenyan Ministry of Energy relating to certain exploration permits granted by the Ministry, including the Company’s PSC.


In the court proceedings, which were brought by Interstate Petroleum Ltd. (“IPL”) against the Permanent Secretary,Ministry for Energy, IPL is seeking a judicial review of theadministrative process that led to the issuance of exploration permitsin respect of Block 10BA, among others, which resulted in Centric Energy beinga named party to the proceedings. A preliminary order, granting IPLleave to seek orders against the Permanent Secretary, has been grantedand a hearing date has been set for October 27, 2010. Centric Energyhas been advised by its legal counsel in Kenyathat the courts in Kenya regularly grant this sort of preliminaryorder, also known as “granting leave”, in applications of this natureas there is no requirement to establish the merit of the claim on theinitial application.


TheMinistry of Energy has advised the Company that it can carry on withits work program and that its PSC remains in good standing.


Ifyou require more information, Mr Alec Robinson has indicated he wouldbe happy to talk you through it in more detail. He is in Canadaat the moment and the number you can reach him on is +44 (0) 793 0405550 or alternatively you can contact our Chairman Darren Devine on +1 (604) 638 8067.


Please let me know if I can be of further help to you.


Your sincerely


Gayle Meikle

Centric Energy Corp.
Investor & Media Enquiries:

North America Toll-Free+ 1 800 962 7189
Europe Frontier Communications Ltd
Tel +44 (0) 20 7193 3431
Email

Web www.centricenergy.com

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