TAMPA, Fla., Dec. 7, 2006 (PRIME NEWSWIRE) -- Centenary International Corp. (Other OTC:RRRI) announced today the following information concerning Mr. Cristobal Manuel Lopez who acquired 12,891,895 shares (approximately 66.6%) of the issued and outstanding common stock of Centenary International Corp. (the "Company") from Centenary Group S.A. on November 2, 2006.
Mr. Cristobal Manuel Lopez is an Argentine businessman, mainly devoted to develop businesses related to energy within South America, especially in the area of oil and gas production services.
He began his career working in the oil and gas industry in the early 1980s, working as provider of special transportation services for Repsol YPF (ex YPF State Corporation) (CIK code 0000847838). These services were related to the activity of drilling wells in the Basin of San Jorge Gulf (Provinces of Chubut and Santa Cruz -- Argentina), through a company named Cristobal Manuel Lopez SRL, which was later called Clear SRL.
Through this company, he provided special transportation services for liquid and solid cargoes for the Argentine hydrocarbon industry, as well as services of deparaffination (hot-oil), cargo hoisting (cranes), and other complimentary activities for clients such as Repsol YPF, Pan American Energy (PAE) (CIK code 0001145578), Sipetrol (ENAP), Petrobras (ex Perez Companc) (CIK code 0001099205), CAPSA, and others.
At the beginning of the 1990s, Mr. Lopez established a company named Almeria Austral S.A. dedicated to services of perforation, completion and workover of oil wells. The first equipment of this business unit was acquired from Repsol YPF. Later the Company acquired equipment and tools from companies in the USA, Venezuela, Peru, Paraguay, Bolivia and Brazil. When this company was sold in 2001, it had 10 drilling rigs and 1 unit of completion equipment rendering services, which were operating in the productive basins of Argentina (Austral, San Jorge Gulf, Neuquina and Cuyana), as well as 5 drilling rigs being modernized) (3 in Argentina and 2 in Venezuela), and 2 units of completion equipment in Argentina.
Almeria Austral S.A. employed more than 500 people, including professionals and technicians with an average of 20 years working in the industry. Almeria Austral S.A performed comprehensive processes of wells construction for the firms Repsol YPF (Las Heras, Drill600 project, 2000/2001, jointly with Pride San Antonio), ALPA Engineering (Anticlinal Aguada Bandera Project, 1999/2000, jointly with Schlumberger), Repsol ASTRA (Manantiales Behr Project, 1999/2000/2001, jointly with Schlumberger) and other smaller ones.
From its foundation until it was sold to Pride International SA (USA) (CIK code 0000833081) in July 2001, the company drilled more than 1,200 wells, including exploratory drilling, outpost and development, for clients such as Repsol YPF, Petrobras, ASTRA, ALPA Engineering, Formicruz, AEC (Alberta Energy Company) (CIK code 0000927600), Schlumberger (CIK code 0000087347), Tecpetrol, and Gas Medanitos, among others.
In 2001, Mr. Lopez started the company Oil M&S S.A., dedicated to providing comprehensive services regarding production, maintenance, reservoirs, and the environment for the hydrocarbon industry. Today, this company has more than 1,000 direct employees, and provides services to important operators of hydrocarbon areas in Argentina, such as Repsol YPF, PAE, APACHE (CIK code 0000006769), OXI, Petrobras, ENAP, and other smaller ones. The main business activities of Oil M&S S.A. include:
-- earthwork (construction of roads and locations, including oil
fields and authorization management dealt with rural
superficiaries)
-- starting up of wells (laying of flowlines)
-- energy supply lines (electricity and/or gas)
-- setting of extraction systems (AIB, PCP, others)
-- construction works, civil building, setting and mechanical
development of ducts and surface installations (facilities,
batteries, oil and water treatment plants)
-- services for oil and water treatments; operation and maintenance
of similar installations (treatment plants, ducts, pumping units,
injection plants of secondary recovery, etc.) jointly with Clariant
(CIK code 0001366235), supplier of chemical products for treatment
-- services of environmental recovery due to oil residues
(petroleum-contaminated soils, disused installations,
petroleum-contaminated consumables and materials) and dangerous
waste (tank bottoms)
-- laboratory services for quality tracking in oil, water, and the
environment (soil, air, and water)
-- road services and assistance in oil fields
-- preventive and corrective maintenance of extraction systems as
AIB and PCP
-- reservoirs services, formed by a multidisciplinary team of
geologists, geophysicists, reservists, and geochemists; as well as
other smaller activities related to hydrocarbons exploitation.
Since 2004 Oil M&S S.A. has entered into the operation of oil fields, and it has obtained exploration and production concessions in Argentina (Provinces of Chubut and San Juan) and Brazil (San Francisco and Solimoes). At present, Oil M&S S.A. is an important competitor within the bidding processes in the provinces of Rio Negro, La Pampa, Mendoza, Chubut and Santa Cruz (Argentina), and is working to obtain new exploration and production concessions.
Today, Mr. Lopez is also actively involved in businesses in Argentina, within areas related to the production of olives and olive oil, farming (sheep, cattle and oilseeds), public services (public transport and rubbish collection) as well as entertainment.
You can review and/or obtain a copy of the Company's Current Report on this subject filed on Form 8-K at www.sec.gov.