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Centric Energy Hits New Yr High on Big Volumes

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Centric Energy Corp (CTE.V) has hit a year high 45 cents on big volumes, with more than 3.2 million shares traded. There is no apparent fresh news driving the stock.

Yesterday it was announced that InvestmentPitch recently filmed a video presentation for Centric Energy. The presentation focuses on hydrocarbon exploration and production opportunities in sub-Saharan Africa. Alec Robinson, Centric's President & CEO, discusses the company's projects in Kenya and Mali, where the company has a combined total acreage of more than 88,000 square kilometres in two underexplored rift basins. Both these projects are in the vicinity of significant deposits of recoverable oil.

Centric Energy and Tullow Oil PLC in late September executed the definitive farm-in and joint operating agreements whereby Tullow will farm-in to a 50% participating interest in Centric Energy's 100% owned Production Sharing Contract covering Block 10BA in north-western Kenya. The closing of the farm-in is conditional upon the approval of the Kenyan Government and satisfaction of conditions precedent which are expected to be completed within 30 days.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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