CTE Centric Energy Corp.

Centric Energy Corp. ("Centric Energy" or "the Company") (TSX VENTURE:CTE) is
pleased to announce that the Kenyan High Court has today issued a ruling which
dismisses as "without merit" the Application filed by Interstate Petroleum Ltd.
against the Ministry of Energy, Kenya, and has awarded all costs to the Ministry
of Energy, Centric Energy and others.


The Application was filed by Interstate Petroleum Ltd ("the Applicant") against
the Permanent Secretary, Kenyan Ministry of Energy (the "Respondent") seeking a
judicial review of the administrative process that led to the issuance of
exploration permits in respect of six blocks in northwest Kenya, which included
the area of Centric Energy's Block 10BA Production Sharing Contract. This
Application resulted in Centric Energy, among others, being named as an
"Interested Party" to the proceedings. A hearing was held at the High Court in
Kitale, Kenya, on November 16th and today's ruling is the result of that
hearing.


The High Court ruled against Interstate Petroleum on all points and stated that
the Application was "without merit". All costs were awarded to the Respondent
and the Interested Parties, including Centric Energy. The Applicant has the
right of appeal and if it wishes to do so must file notice of appeal before the
end of January, 2011.


"Centric Energy is very pleased with the High Court ruling, which
comprehensively dismisses the Application of Interstate Petroleum," stated Alec
Robinson, Centric Energy's President & CEO. "We will now be able to move forward
more confidently with the exploration programme in this area and with other
pending business matters."


ON BEHALF OF CENTRIC ENERGY CORP.

Alec Robinson, President and Chief Executive Officer

This News Release does not constitute an offer to sell or a solicitation of an
offer to sell any securities in the United States. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to a U.S. Person unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.

Centric Energy Corp. (TSXV:CTE)
Historical Stock Chart
From Oct 2024 to Oct 2024

Centric Energy Corp. (TSXV:CTE)
Historical Stock Chart
From Oct 2023 to Oct 2024